By SVA Publications

Most people will need some form of long-term care as they age. Planning ahead gives you more choices and reduces the burden on your family.

Understanding Long-Term Care

Long-term care includes help with daily activities like bathing, dressing, and eating. It can be provided at home, in assisted living facilities, or in nursing homes. The level of care needed varies greatly among individuals.

The Costs

Long-term care is expensive. Home health aides, assisted living, and nursing home care can cost thousands of dollars per month. Medicare covers only limited skilled nursing care after a hospital stay, not custodial care.

Paying for Care

Long-Term Care Insurance: These policies help cover care costs. They are most affordable when purchased in your 50s or early 60s. Compare policies carefully, as coverage varies significantly.

Medicaid: This program covers long-term care for those with limited income and assets. Eligibility rules are complex and vary by state. Planning ahead with an elder law attorney can help protect assets while ensuring care.

Other Considerations

Discuss your preferences with family members. Complete advance directives specifying your wishes for medical care. Consider whether aging in place with home modifications and support services might work for you.