Another option is Medicaid, the government health insurance program for low-income people, which does cover long-term care. Even if you don’t qualify for the coverage today, you might be eligible in the future after you have spent down most of your other assets. Bear in mind, though, Medicaid only covers nursing home care, not care in your own home. What’s more, not all facilities accept Medicaid, so you might not be able to pick the exact nursing home you want or need.