INDEX

BIDS Inc.

Who Pays for Long Term Care?

LTC Who Pays?
Medicaid & State Programs 39.0%
Out of Pocket 29.5%
Medicare, Medicare Suppl., Conventional Health Policies 17.8%
Private LTC 7.7%
Other 6.3%

Many people are under the assumption long term care is paid for by medicare, or major medical health policies. The fact is medicare, medicare supplements and major medical policies specifically exclude custodial care. To qualify for medicaid a substantial portion of personal assets must be depleted.

(Health Care Financing Administration, 1998 Washington Post article "Why You Should Worry About Long Term Care" by Albert B. Crenshaw, September 17, 2000.)

 

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