Survey says… According to the 2025 Planning & Progress Study from Northwestern Mutual, over six in ten American adults believe that they will need long term care. According to the survey 74% of Americans say they wish to remain at home and receive in-home care should they need it, while only 11% said they would prefer living in a nursing home.
A person who needs long term care requires assistance with the activities of daily living, including things such as eating, dressing, bathing, using the bathroom, and getting out of bed.
The survey found that across all generations and genders, as well as income and race, the vast majority of Americans would prefer to age gracefully at home. This makes perfect sense. It is natural to want to remain in the home that you are familiar with and where you feel most comfortable.
But how does one afford it? At-home care is expensive. A 2024 Illumifin Cost of Care Study found that the annual cost of a home health aide providing eight hours of care per day is $96,360. Prices in the New York metro area are likely to be much higher.
Medicare does not typically pay for long term care at home or in a nursing home. (It usually pays for doctors’ visits, hospital stays, medication, and short-term rehab after hospitalization.) However, Medicaid does cover the cost of long term care if you qualify. You may think you or a loved one may never qualify for Medicaid, but that is often not the case.
In New York, achieving Medicaid eligibility for home care is very doable, even if individuals believe they have too many assets and/or too much income. With the proper advice from an experienced Elder Law attorney, expensive home care can be paid by Medicaid while protecting one’s assets and income. Every day we assist our clients with this issue, and enable them to continue to remain comfortably at home.
Planning ahead is important. If you are one of those Americans who believes you will need long term care and who wants to remain at home, contact us for advice. We look forward to helping you plan for your future.
