How to pay for long-term care

The topic of paying for long-term care is an overlooked issue in health care. None of us want to think about living our final days in the nursing home, but statistically speaking, many of us will. How will you pay for it? What are the options? Long-term care in this country can be divided into two general classes based on funding: governmental and private payers. In terms of government programs, Medicaid will pay for a nursing home or rehab, whereas Medicare only pays for a maximum of 100 days of post-hospital recovery care. On the other hand, private insurance companies offer what is referred to as long-term care insurance to cover prolonged long-term services and supports. Let’s take...

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