Getting Started: Planning Health
Nancy Nall Reporting
We can take the best possible care of ourselves, but no one lives forever, and we need to be prepared for the inevitable declines of age, as well as informed on what benefits senior citizens can claim. Everyone should have a designated medical decision-maker, also called a durable power of attorney for health care, a trusted friend or family member who knows and respects your wishes and beliefs about your care, and can communicate them to your doctors. A living will can be very helpful, and takes the burden off family members in case of an emergency when you can't speak for yourself.
And everyone needs to know the laws about Medicaid, the federally funded support system many older adults rely upon for health care. The Center for Elder Law reports changes in the Medicaid program in the so-called "lookback period" for asset transfers (from three to five years), as well as a cap on the value of an exempt homestead, among others. These changes can affect your long-term health-care plans, and need to be noted by all who anticipate applying for Medicaid assistance in the future.
For more information on all these issues, as well as others, try The Center for Elder Law or Elder Law of Michigan.
Once the legal issues are covered – powers of attorney and living wills – older people need to consider the sort of medical care they can expect as they age. Designating medical power of attorney doesn't take you out of the decision-making process; it only covers situation in which you are unable to do so. As long as you are able to state your wishes, you should; and if they should change, that's OK, too.
However, everyone wants to stay in good health as long as possible, and fortunately it's easier than ever, particularly for older people. The new Medicare prescription-drug benefit has been an enormous help for older adults taking expensive medicines; if you aren't enrolled, many services exist to help you choose a plan that's right for you.
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