Government Help

Long-term care services are paid for in a variety of ways, including government assistance, personal savings, insurance, as well as other options. To develop your financing plans, it’s important to understand all of your options.

The U.S. government pays for a very large percent of long-term care costs in the nation. These expenses are paid through a combination of Medicare and Medicaid payments. However, it’s important to realize that Medicare is NOT designed to pay for most long-term care needs. Medicare does provide for limited coverage of nursing homes and home health care following a hospital stay of at least three days, and when other criteria are met. This is why Medicare payments account for almost 20% of national spending for long-term care.

Medicaid pays for long-term care services for people with limited income and resources. While some people will qualify, many will not.

This video, “Medicare versus Medicaid” talks more about these programs.