Frequently Asked Questions
16. What kinds of options are available to pay for long-term care?
Most people don't have enough money to pay for all long-term care costs on their own, especially ongoing or expensive services like a nursing home. Often, they rely on a combination of resources to pay for care. These may include
- personal funds
- government health insurance programs, such as Medicare and Medicaid
- private health insurance plans
- private financing options, such as long-term care insurance, life insurance policies, reverse mortgages, annuities and trusts.
For more information, see the chapter on "Paying for Long-Term Care."