Options might include care in the home, day care facility, training for the caregiver, and all the way to care in a facility on a full time basis. Its purpose is to provide money and/or options when someone needs long term care. Most people in these facilities are on Social Security and will continue to receive those payments. Why not 100%? I would then consider buying about 80-90% of the average. You will want to find out the daily rate charged by local facilities by calling a couple of the long term care facilities in your area to ask what the current daily rates are. I do know it will only get tougher to qualify for Medicaid to pay for long term care.

I don't know, but there is only so much money available and at some point they will have to decide who gets benefits and who does not. What else can they do? I am not sure how long states can or will continue to pay for long term care because it's a huge part of the budget. Medicaid is a program run by each individual state to help provide care for low income people. Medicare provides almost no benefits for long term care. Medicaid is not Medicare. Currently, people who have limited income and assets have long term care paid by Medicaid. There are many companies selling Long Term Care (LTC) products but most have the same options. If you do, then choose the longer elimination periods and your premium will be less.

Do you have some money in the bank or income that could help pay for the first few months of care? Most companies offer from 30 day to 180 day elimination periods. The average stay is about 2/i years, so use this information along with what your budget allows to pick your benefit. You can choose from 1 year all the way up to lifetime (no limit), but the cost goes up greatly for extending the benefit length. Use your Social Security and or pension income to offset the remaining 10-20%.