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It generally allows you to determine what level of care the patient receives. It varies by jurisdiction and document.
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I'm copying this from an article from everplans (everplans.com), How To Be A Good Healthcare Proxy

"In your role as Health Care Proxy, you will have the right to make the following types of decisions:

Choices about medical care, including medical tests, medicine, or surgery
The right to request or decline life-support treatments
Choices about pain management, including authorizing or refusing certain medication or procedures
Choices about where the person will receive medical treatment, including the right to move the person to another facility, hospital, or state, or to a nursing home or hospice facility
The option to take legal action on the person's behalf in order to advocate for his or her health care rights and wishes
The right to apply for Medicare, Medicaid, or other programs or insurance benefits on the person's behalf

You may also be responsible for fundamentally managing the person's medical care. This may include:

Learning about the person's medical condition and treatment options
Communicating with the person's medical team, including asking questions about the person's condition, treatments, and treatment options
Reviewing the person's medical chart
Communicating with the person's family about his or her condition and treatment plan
Accessing and approving release of the person's medical records
Requesting and coordinating second opinions or outside medical care"
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