People often pay for long-term care out of their own pocket, depleting their personal resources and straining family relationships and savings.

Those who can afford it, however, opt for long-term care insurance products instead that pay out either a daily or monthly benefit amount or follow a “pool of money” approach to cover services such as:

• Skilled Care – Provided by skilled nurses or physical therapists, most often in a hospital setting.
• Intermediate Care – Services between hospital and home, provided by skilled professionals.
• Custodial Care – Assistance with daily living activities often provided by a health aide.
• Home Health Care – May include in-home personal care provided by a licensed nurse or home health aide and may include a skilled nurse for a person recovering from an accident or illness.
• Homemaker Services – Typically offered by home health care agencies and include personal care or assistance with daily living activities such as eating and bathing.
• Community Services – These are services offered in skilled nursing homes, assisted living facilities, and adult daycare centers.
• Transportation – Some community care and senior housing centers provide transportation as part of their offer.

Health insurance covers medical and hospital bills, however Medicare and Medicaid only cover some long-term care expenses under particular circumstances and limit the days coverage is provided.