Who pays for long term care services?

There are 4 Ways to Pay For Long-Term Care Services

  • You can rely on others (spouse, children, etc) to provide the help needed. This option is only available to those with a support system in place and if the amount and type of care required is possible for them to provide.
  • You can self-insure and pay for long-term care with your own assets and income.
  • You can spend down all of your assets and then qualify for Medicaid. (Medi-Cal in California).
  • You can transfer a predetermined amount of risk of long-term care to an insurance company by purchasing long-term care insurance.

Unfortunately, private health insurance, Medicare, and Medicaid are not realistic options to rely on to pay for your long-term care.