Elder Costs Are On the Rise | Monroe Township - Middlesex County
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Elder Costs Are On the Rise

December 15, 2015

Filed under: Estate Planning — Neel Shah @ 9:15 am

Both enrollment and spending on Medicaid rose just under 14% in the last fiscal year. But the good news was that the per person per month averages were actually lower. The Kaiser Family Foundation Survey indicated that as many newly eligible individuals are both younger and healthier that it is important to consider how your healthcare costs may rise. shutterstock_329270795

Living longer and potentially needing services sooner in life than you expect can represent a significant challenge to your savings. States where costs have increased are in many cases saving overall as other costs such as mental health decline.

This is overall good news for seniors looking to guard cost, increases in spending totally covered by the federal budget through 2016 and 19% thereafter.

Understanding what you may be responsible for in terms of paying for your healthcare is one reason to consult with a New Jersey elder law attorney who is knowledgeable and experienced in this area.

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