Sponsored

Money & Policy

What Questions Do You Have About Paying for Long-Term Care?

Submit your questions about Medicare, Medicaid and long-term care


This form is now closed. In October of 2017, you sent us your questions on this topic. We responded by publishing Medicare, Medicaid and Long-Term Care: Your Questions Answered.

 

The cost of long-term care is mind-numbing. According to the recent 2017 Genworth Cost of Care Report, the median annual cost of a private room in a nursing home is $97,455 (up 50 percent since 2004. Hiring a home health aide runs about $49,000 a year. You may be wondering whether Medicare or Medicaid will help cover the bills if you or a loved one will need this kind of care.

The reality is that it’s complicated. No wonder that two-thirds of Americans Genworth surveyed were confused about federal coverage of long-term care costs. But the topic is a vital one: 70 percent of people 65 and older will need some kind of long-term care eventually.

=

RIchard Eisenberg, editor at Next Avenue wearing a suit jacket in front of a teal background.
By Richard Eisenberg
Richard Eisenberg is the Senior Web Editor of the Money & Security and Work & Purpose channels of Next Avenue and Managing Editor for the site. He is the author of How to Avoid a Mid-Life Financial Crisis and has been a personal finance editor at Money, Yahoo, Good Housekeeping, and CBS MoneyWatch. Follow him on Twitter.

Next Avenue Editors Also Recommend:

Next Avenue brings you stories that are inspiring and change lives. We know that because we hear it from our readers every single day. One reader says,

"Every time I read a post, I feel like I'm able to take a single, clear lesson away from it, which is why I think it's so great."

Your generous donation will help us continue to bring you the information you care about. Every dollar donated allows us to remain a free and accessible public service. What story will you help make possible?

Sponsored

Sponsored

Sponsored