Cost-Effective Ways to Finance Long-Term Care

Covering long-term care costs for an older adult can be daunting, but several options make it more manageable—and, in many cases, more affordable than facility-based care. Personal savings, long-term care insurance, and Medicaid are common ways families finance in-home or assisted living support. Veterans may also qualify for benefits through the VA, while some individuals use life insurance or reverse mortgages for added financial flexibility. Each approach can offer cost-effective options for care that keeps older adults comfortable in their own homes.

For more details on payment options, see the full article by the National Institute on Aging: Paying for Long-Term Care.