This has been a surprise to many people. Long term care expenses are generally not paid for by Medicare. Medicare was designed to pay for acute care only, such as hospital and physicians' charges. In the U.S., we are fortunate to have government assistance programs that provide for LTC services for those individuals who are unable to pay their own expenses. However, to be eligible for Medicaid, the Federal-State public assistance program, individuals must spend down their own resources to minimal levels.
Qualifications vary by state.
Understanding the need The initial consideration is to recognize that a long term stay in a nursing home may be the greatest financial risk facing many people during their retirement years. No one chooses to be confined in a long-term care facility, but it should be noted that many such facilities are full, and some have waiting lists. The risk of needing LTC services is higher than many realize. In today's American family, it is very difficult for a younger family member to remain at home and learn the skills necessary to provide care for an older family member.