Medicaid and Long-Term Care: An Overview

When you are planning for retirement, you probably envision the good times that await you. If you plan ahead diligently, you can go forward with the financial underpinning that you need to enjoy your retirement years to the fullest. These are the golden years, but the twilight years will follow. A very significant percentage of people ultimately require assistance with their activities of daily living. In fact, 70 percent of people who are reaching the age of 65 will someday need living assistance according to the United States Department of Health and Human Services. Medicare Limitations Your first thought may be that Medicare will pay for long-term care when and if you need it. You will qualify for Medicare when you reach the age of 65 if you have paid into the program sufficiently. That s the good news. Here s the bad news: Medicare will not pay for long-term care. The program will pay for up to 100 days of convalescent care, but it does not cover custodial care. Cost of Care It is


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