For those in Georgia who worry about having enough money to carry them through retirement, it’s important to understand that these concerns are not uncommon. As the American population ages, many baby boomers are worried that their retirement savings won’t last as long as needed. Medicaid planning is also an important consideration, and can greatly affect one’s later years.
Experts project that as the population ages, Medicaid will shoulder the burden of providing care for retirees. The cost of Medicaid is expected to continue to rise, as well as the cost of long-term care options. That’s true of both public and private facilities in states across the nation. While it’s impossible to accurately predict the future, all signs point to a looming crunch when it comes to elder care.
Many believe that the health care system will experience significant strain in the coming years, and that many families will have to take on expenses when government assistance falls short. Those concerns have promoted calls to Congress to create better retirement savings options with universal access. Until that becomes reality, however, families must take an aggressive approach to funding retirement.
Medicaid planning is one way to achieve that goal, and is something that every Georgia family should consider. Through careful planning, families can adjust assets to ensure that loved ones qualify for Medicaid when the time comes. This requires a degree of preplanning, but the outcome is well worth the effort. Schedule a consultation with an attorney who focuses on Medicaid planning to learn how to begin the process.
