Long-term Care Funding Solutions

Advice on choosing the right method of paying for LTC care. This can be a combination of private and other resources from Medicaid or the Department of Veterans Affairs. Seven private pay options:

  1. Short LongTerm Care FundingTerm Care Insurance
  2. Life Settlements
  3. Long Term Care Insurance
  4. Life Insurance
  5. Reverse Mortgage
  6. Home Equity Line of Credit
  7. Immediate Annuity

Why it matters:

  • 70% of those aged 65 will require long-term care of some type for at least 3 years
  • only 5% of long-term nursing home residents are covered by Medicare

SOURCE: Kaiser Family Foundation