Planning for Long-Term Care Medicare does not provide an all-inclusive long-term care component. If certain conditions are met, Medicare offers limited coverage (up to 100 days per benefit period) for some beneficiaries.

Long-Term Care Insurance Signing up for long-term care insurance before you actually need long-term care is one way to help defray costs if and when you do.

The Cost of a Nursing Home If your family is facing imminent need for nursing care and doesn't have an insurance plan for it in place, there are still options to help defray the costs

Short-Term Nursing Home Stay Paying for a shorter stay in a nursing home to receive skilled nursing care is different than paying for an extended stay for ongoing assistance and personal care

Medicaid If an individual lacks enough savings to cover the cost of a nursing home – or if the cost of a protracted stay exhausts their assets – they can become eligible for assistance from Medicaid

Federal/State Insurance Programs State-based Long Term Care Partnership Programs can help protect assets of individuals using Medicaid coverage to pay for long-term care services

Veterans Administration Aid and Attendance According to VeteranAid.org, the Aid and Attendance pension can provide up to $1,881 per month to a veteran, $1,209 per month to a surviving spouse or $2,230 per month to a couple

Negotiating Long-Term Care Costs Most nursing homes won't lower their rates, which are keyed to the payment levels offered by Medicare and Medicaid.