How can anyone afford long term care?

iVillage Member
Registered: 01-16-2013
How can anyone afford long term care?
Wed, 03-12-2014 - 11:27am

I have been looking into long term care for my mother and so far EVERYTHING we have found is completely out of our budget. I don't know how normal working people can afford to put a parent in a nursing home. What am I missing??

iVillage Member
Registered: 05-08-2006
Wed, 03-12-2014 - 7:22pm
After you use up all of her assets, the government pays. But there are very strict limits on how much money she can keep from pension, social security, etc. some people feel that the care given to private payers and the choice of facilities is better, but I think the best way to insure the best care is if you can 'drop by' frequently. Caring for the elderly is not easy, and making the choices you are making is not easy either. Best wishes as you work through this.
Avatar for elc11
Community Leader
Registered: 06-16-1998
Mon, 03-17-2014 - 3:13pm

You're not missing anything, its very expensive and most families cannot afford to just pay it out of pocket.

Medicare pays for a certain number of days per year. Sometimes people have long-term care insurance that kicks in. Like the previous poster said, most people have to pay until they have "spent down" their assets (if your mother owned a home or investments etc they would need to be sold to pay for the care) and then government pays.

The financial office at the nursing home should be able to explain how it works and to what degree they can help you with the forms. Also the Area Agency on Aging might have information that would help.

Avatar for champagneonice
iVillage Member
Registered: 11-15-2001
Tue, 04-01-2014 - 9:17pm

I'll share my story with you as briefly as I can. My mother has Alzheimers and still lives alone. However, its coming down to the wire when she will no longer beable to care for herself. Our house is small and there is simply no room for her in our house. She owned her own home up until 5 years ago, giving up eveything to my brother. And he stole all her life savings. (His name was on the account along with hers.) Thus we are not able to afford assisted living for her. If she could get on Medicaid, they would pay for her to reside in either assisted living or a nursing home. Medicaid can't help her because she has no property and no money. She lives strictly on Social Security and Medicare. We can't even afford for someone to come in to help her. It can be overwhelming at times. I do hope there is some solution for you. Let us know how things are going, okay?

iVillage Member
Registered: 01-15-2014
Mon, 05-26-2014 - 11:05am

Long term care services are provided to people who suffer from a chronic illness, disabling condition, or a cognitive impairment.   In this case, long term care insurances helps pay for services such as in-home care, adult day care, alternative living facilities and nursing homes.


iVillage Member
Registered: 06-09-2014
Mon, 06-09-2014 - 9:59pm

Long-term care services such as nursing home can go as high as $81,000 annualy and the cost of an assisted living facility will cost you around $41,000. The most efficient way to cover this is by buying long term care insurance. Some people find themselves facing a huge financial debt because they failed to prepare for long term care and buy coverage. So while it's still early and you're still eligible for affordable rates, buy long term care insurance now since guarantees that this can protect your assets and as well as your loved ones once you start receiving care.