Long Term Care Services are EXPENSIVE!
MEDICARE DOES NOT PAY FOR LONG TERM CARE.
And someone has to pay for it. How will you pay for care?
And someone has to pay for it. How will you pay for care?
3 Ways to Pay for Long Term Care
OPTION 1: YOU PAY OUT-OF-POCKET
Save enough money and you can pay for care out of your own pocket. Financial advisors recommend putting aside $500,000-$1,000,000 per spouse for future long term care expenses.
OPTION 2: UNCLE SAM PAYS
Spend all your money, become financially destitute, and Uncle Sam pays for long term care through Medicaid and Medi-Cal.
DON'T FORGET: Medicare DOES NOT PAY for long term care.
OPTION 3: INSURANCE PAYS
Buy long term care insurance and a deep-pocketed insurer will pay for your long term care expenses at home and in a facility.
