by Life Group Financial
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Extended Care Services
Long-term (or custodial) care and home health care are the fastest growing segments of the healthcare industry - but they are NOT covered by Medicare.
Some people assume that Medicare will cover long-term care, such as a stay in a nursing home. But in reality, it only covers long-term care stays for rehabilitative purposes only. And even then you will be responsible for shared costs after a certain period. So if you're planning for yourself, or caring for an older relative, here's what you need to know.
Medicare does not provide coverage for people who need to go into nursing homes indefinitely because they are disabled or can no longer take care of themselves.
Medicare also does not cover assisted living or adult daycare.
Medicare also does not cover daily custodial care, such as assistance with eating, bathing and dressing.
If Medicare Won't Pay for Long-Term Care, What Should I Do?
Long-term care can be tremendously expensive, and unfortunately, your options for covering it are limited.
However, in recent years certain insurance companies have found a way to possibly offer you protection through 'hybrid' plans. These new plans can give you a long-term care benefit. It could, essentially, mean that you will be covered for long-term care at no additional cost to you! To learn more about these opportunities click on our Long-term Care page.