Three Long Term Care Myths

With the rising cost of healthcare and all data showing that many people will need some form of LTC in their older ages, it’s costly to assume that any of the three myths listed below are true. Yet plenty of people are under the impression they don’t need an LTC plan or Medicaid planning, giving them limited options when they or a loved one needs to enter a nursing home suddenly.

Myth #1: Medicaid or Medicare Will Cover Me

Medicare does not cover the vast majority of expenses needed for LTC. And Medicaid requires completing a careful application process. Overlooking the need to plan outside of this can be a big mistake or can require Medicaid crisis planning that doesn’t allow you to exercise all your options.