Despite our best attempts to remain young forever, even the most resilient of us must eventually face the prospect of growing older. Entering an advanced age brings about a unique set of challenges that must be addressed. For example, thoughtful long-term care planning will resolve issues related to the guardianship of an elder, protection of an elders assets and property and even assisted living or nursing home accommodations.
Currently, New York law requires that certain individuals participate in managed long-term care plans approved through the state. Administered by the Department of Health, a MLTC attempts to streamline the process of delivering long-term services to individuals who wish to remain in their own homes or communities and are classified as chronically ill or disabled. Individuals who are currently enrolled and under the care of a MLTC can receive a number of benefits provided by state and federal services.
The MLTC mandate covers three separate types of plans; however, each of them provide for Medicaid home care and similar community-based long-term care solutions. Some of the plans also include things like visits to the doctor's office and pharmacy services.
Presently, MLTC participation is mandatory for individuals who meets the following criteria: People who are over 21 years old; eligible to receive both Medicaid and Medicare; and have a requirement for long-term care services that exceed 120 days. In addition to those requirements, individuals must also reside in New York City, Nassau, Suffolk or Westchester Counties.
Certainly, not all New York elders will qualify for these plans. Nonetheless, having a well considered long-term care plan is always prudent regardless of your current financial situation. Your New York estate planning attorney can help guide you in the formation of a long-term care strategy that best fits your particular needs.
Source: New York State-Department of Health, "Managed Long Term Care" Nov. 17, 2014