Part of wise long term care plan is a good method on how to pay for long term care . Different people have different financial capabilities and care requirements, so what works for another person might not work for you.

Many people often struggle in choosing how to pay for long term care. So to narrow your choices, here are three long term care payment options that will make care easier to manage.


Self-insuring pertains to paying for the care that you receive out of your own pocket, either through savings and other assets. While it may be a good option for short term coverage, self-insurance can significantly deplete your resources.

Government Programs

Medicare and Medicaid are government programs designed to help fund specific care requirements.

On one hand, Medicare is federal-state insurance that provides a limited coverage of 100-day maximum stay at a nursing home for rehabilitation care. It caters to individuals age 65 and older, younger generations with certain disabilities, and people with late-stage kidney failure.

On the other hand, Medicaid covers long term care services, but individuals need to be below a certain income level defined by the state in order to qualify.

Long Term Care Insurance

Long term care insurance is a product specifically designed to assist policyholders in playing for all levels of care in different care settings. Policies can be tailored to fit the person’s needs and preferences.

Is health insurance an option?

Health insurances generally do not cover long term care services. Verify with your carrier to determine the coverage extent of your health care policy.