Long-term Care Planning

Long-term care includes services that support individuals who can no longer perform everyday activities on their own, such as bathing, dressing, or preparing meals. Many people—about 60 percent—will need some form of long-term care during their lives. Since these services can be costly and vary from in-home care to nursing facilities, planning ahead is essential to ensure you receive the care you want without unexpected financial strain.

Understanding Your Coverage Options

Several government programs assist with long-term care costs, but coverage varies. Medicare generally does not cover long-term care, making it important to explore other options. Medicaid is the primary payer for long-term care services nationwide, helping cover nursing home and community-based care if eligibility requirements are met. Retirees with military service should also consider TRICARE For Life benefits, which may provide additional coverage for eligible individuals.

Planning and Payment Strategies

Beyond government programs, personal savings, pensions, and private long-term care insurance can help fund care. Some federal and state employees have access to specialized insurance programs, such as the Federal Long Term Care Insurance Program or CalPERS coverage in California. Starting your long-term care planning early allows you to make informed decisions, protect your assets, and discuss your preferences with family, ensuring the care you receive aligns with your needs and values.