Older adults may be eligible for some government health care benefits. Find more information on Medicaid and other government programs below. Professional care given in assisted living facilities and continuing care retirement communities is almost always paid for out of pocket, though in some states, Medicaid may cover some costs for people who meet financial and health requirements. These services help them remain in their homes. Many older adults also pay out of pocket to participate in adult day service programs, receive meals, and get other community-based services provided by local governments and nonprofit groups. But as a person's needs increase, paid services may be needed. Initially, family and friends may provide personal care and other services, such as transportation, for free. Much home-based care is paid for using personal out-of-pocket funds. They may use personal savings, a pension or other retirement fund, income from stocks and bonds, or proceeds from the sale of a home. Personal funds (out-of-pocket expenses)Īt first, many older adults pay for care in part with their own money. Often, people must rely on a variety of payment sources, including personal funds, government programs, and private financing options. Some people believe that their current health or disability insurance will pay for their long-term care needs, but most of these insurance policies include limited, if any, long-term care benefits. How people pay for long-term care - whether delivered at home or in a hospital, assisted living facility, or nursing home - depends on their financial situation and the kinds of services they use. These expenses can use up a significant part of monthly income, even for families who thought they had saved enough. Many older adults and caregivers worry about the cost of medical care and other help they may need.
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