Paying for Long-term Care

How can I pay for long-term care?

Medicare

Under certain limited conditions, Medicare will pay some nursing home costs for Medicare beneficiaries who require skilled nursing or rehabilitation services. To be covered, you must receive the services from a Medicare certified skilled nursing home after a qualifying hospital stay. A qualifying hospital (at least three days) stay is the amount of time spent in a hospital just prior to entering a nursing home.

Medicaid

Medicaid is a state and federal program that will pay most nursing home costs for people with limited income and assets. Eligibility varies by State. Check your state’s requirements to learn if you are eligible. Medicaid will pay only for nursing home care provided in a facility certified by the government to provide service to Medicaid recipients.

V.A. Aid and Attendance

Aid and Attendance is a benefit paid by Veterans Affairs to veterans, veterans’ spouses, or surviving spouses. It is paid in addition to a veteran’s basic pension. The benefit may not be paid without eligibility to a VA basic pension. Aid and Attendance is for applicants who need financial help for in–home care, to pay for an assisted living facility or a nursing home. Applicants must meet specific criteria.

Long-Term Care Insurance

Long term care insurance often covers home care services and assisted living communities; most policies have specific criteria for eligibility. Consult a representative of your insurance carrier for a detailed explanation of services covered.

Private Pay

When and individual or family finance the cost of care on their own, without assistance from government programs. These individuals pay for their care through personal funds or a long-term care insurance policy.

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