Do you want long-term care insurance, but find it to be outside of your budget? Luckily, there are ways to pay for long-term care without resorting to private funds. Here are some ways, you can receive financial-aid for long-term care from the government.
- If you are on a limited income, you might be able to qualify for long-term care through Medicaid.
- If you have served in the armed forces, have a medical condition, and signed documents from a physician, you may qualify for long-term care through veterans’ benefits.
- Medicare covers long-term care only if your need skilled care or rehabilitation service. The maximum coverage for a nursing home stay is 100 days.
- California residents who qualify for Medi-Cal can also receive payments for long-term care. Medi-Cal can pay for nursing home stays if deemed “medically necessary”, while assisted living facility costs can be aided by the Assisted Living Waiver program.
Retirement is such a significant stage of our careers and lives. Understandably, there are a lot of factors to oversee for a successful plan. WellPath Partners can provide personal assistance and access to all retirement related services and resources.
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