Long-Term Care

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."