Retirement Community
Paying for Long Term Care
        Review Retirement Communities, Adult Communities, Assisted Living and more at Retirement Community.com Find the retirement community that best fits your needs or wants.  You will find active adult communities, independent living, assisted living, nusing care and more

Search


Category
State
City (optional)
Zip (optional)
Distance (miles)



Latest Social Security Questions
Ask Your Question
• I am 62 years old and am considering taking early retirement and collecting soc. sec. My questions is that I have a pension from IBM (retired) and will have one from the school district.
Answer ...


• Hello Carol,
Was married to ex spouse for 16 years and that was 23 years ago. I am now almost 66 years old and have applied for ex spouse half payment for social security
Answer ...


• Is she eligible to receive benefits from his earnings if she files for ex-spouse retirement benefits with social security?

Answer ...




Ask Your Question


Recent Reviews

Tryon Estates - Columbus, North Carolina 28722   
Just visited a dear family member at tryon estates. The community is lovely. However, the food needs a lot of improvement. Most of the dinner options are sub-par. Other than the food, it was a lovely [View Listing]
Keystone Communities of Highland Park - Saint Paul, Minnesota 55116   
I do not recommend Keystone. They made all sorts of reassuring promises and we thought it would be a safe place for my father who is in Mid Stage Alzheimer's.

Immediately after mov [View Listing]
Wellington House - Gastonia, North Carolina 28054   
This place is not a good place for your love ones. The staff is uneducated, and are not at all skilled on Alzeheimer's care. Unless the workers, and staff have changed, this place is horrible. [View Listing]
Homestead At Hickory View - Washington, Missouri 63090   
The Homestead is a wonderful place and I enjoyed being able to have my Uncle to call it home for over 5 years. The staff is wonderful. The dietary team knows the residents and caters to their indivi [View Listing]

Long-Term Care Home    |    Steps to Choosing Long-Term Care    |    Types of Long-Term Care    |    Paying For Long-Term Care

Paying For Long-Term Care

  Overview Government Programs Private Insurance Home Equity Other Options Resources  
 
 


The cost of long-term care can vary quite a bit depending on what kind of care you need, where you get the care, and where you live. The chart below shows a comparison of available financing options:

Financing Option Only Available for Long-Term Care Costs Remaining Funds Available to Heirs Rate of Asset Accumulation Eligibility Requirement Risk of Insufficient Funds Cost
Family Support and Caregiving No No None No Moderate

-- Family members may be unable/unwilling to provide care
You pay for services that family members are unwilling to provide
Personal Savings No Yes Variable No High

-- Long-Term Care costs can exceed your personal savings
You are responsible for creating private savings
Long-Term Care Insurance Yes No Fixed Yes Moderate to Low

-- Long-Term Care costs could exceed original coverage amount
Monthly premiums for the life of the policy
Limited Long-Term Care Insurance Yes No Fixed Yes Moderate to Low

-- Long-Term Care costs could exceed original coverage amount
Large one-time or short-term monthly premium
Life Settlement Yes No Fixed Yes Moderate to Low

-- Amount received from benefit may not pay all long-term care costs
None
Viatical Settlement Yes No Fixed Yes Moderate to Low

-- Amount received from benefit may not pay all long-term care costs
None
Accelerated Death Benefit Yes No Fixed Yes Moderate to Low

-- Amount received from benefit may not pay all long-term care costs
None
Reverse Mortgages No Yes Variable Yes Moderate

-- Amount received from benefit may not pay all long-term care costs

-- Home maintenance costs still exist
Processing and origination fees to establish mortgage
Continuing Care Retirement Community Yes Yes Variable Yes Low

-- Additional care provided as needed in CCRC assisted living or nursing facility
High purchase price and fixed monthly payment required of CCRC property
Veterans Benefits No No None Yes Moderate to High

-- Amount received from benefit may not pay all long-term care costs
None
Medicare No No None Yes Moderate to High

-- Amount received from Medicare may not pay all long-term care costs
Co-payments and deductibles
Medicaid No No None Yes High

-- Amount received from Medicaid may not pay all long-term care costs

-- Recovery of Medicaid may be made against estate
You pay for services not covered by Medicaid
PACE Yes No None Yes Moderate to High

-- Amount received from benefit may not pay all long-term care costs
You pay for services not covered by PACE

Page Last Updated: July 2, 2007

Source: http://www.medicare.gov/LongTermCare/Static/Home.asp


Featured Communities


Heritage Lane
Mesa, Arizona

Our safe and secured campus is designed


Aspen House
Loveland, Colorado

Aspen House is a secure living community, licensed


Ridgeview Assisted Living Community Cedar Rapids
Cedar Rapids, Iowa

The Views (RidgeView and MeadowView) provides


Gardens of Roswell
Alpharetta, Georgia

Here at Gardens of Roswell, we care about you and



Become a Featured Community



Acts Life Retirement Communities

Brookdale Retirement Communities

Emeritus Retirement Communities

Alden Courts Retirement Communities

Traditions of America Retirement Communities






...........................



 Active Adult Communities | Assisted Living | Adult Day Services | Alzheimer's Care
Continuing Care Retirement Communities (CCRC) | Home Care and Hospice Care | Independent Living

Senior Centers  | Retirement Jobs | Senior Care Jobs

Become a Featured Community  |  Submit Listing | Advertiser Login | Contact Us

Sunrise New Jersey

 

Alabama |  Alaska | . Arizona | . Arkansas |  California |  Colorado |  Connecticut |  Delaware |  Florida |  Georgia |  Hawaii |  Idaho |  Illinois |  Indiana |  Iowa |  Kansas |  Kentucky |  Louisiana |  Maine |  Maryland |  Massachusetts |  Michigan |  Minnesota |  Mississippi |  Missouri |  Montana |  Nebraska |  Nevada |  New Hampshire |  New Jersey |  New Mexico |  New York |  North Carolina |  North Dakota |  Ohio |  Oklahoma |  Oregon |  Pennsylvania |  Rhode Island |  South Carolina |  South Dakota |  Tennessee |  Texas |  Utah |  Vermont |  Virginia |  Washington |  Washington DC |  West Virginia |  Wisconsin |  Wyoming | 

© 2001-2016 Retirement Community All Rights Reserved.

All logos and trademarks in this site are property of their respective owners.

Privacy Policy | Site Map