Paying for Long-Term Care
Medicare
Medicare pays for short-term skilled nursing care if you qualify
for skilled care and have been hospitalized for three days before being admitted
to the nursing home. Medicare plays a very limited role in paying the costs
of long-term care.
Private Pay
Of course, you can always pay for long-term care out of
your own pocket. However, if you or your loved one needs care for an extended
period, you may find yourself depleting your savings before long.
Long-Term Care Insurance
Long-term care insurance is becoming more
affordable and better meeting the needs of consumers. Many policies have eliminated
restrictive provisions and pre-qualifying hospital stays.
Medicaid
Medicaid pays for certain types of long-term care in your
home, in assisted living facilities, and in nursing facilities. However, not
all assisted living or nursing facilities accept Medicaid, so be sure to check
with the facility to determine if they are Medicaid certified. Applicants for
Medicaid for long-term care must meet categorical, income, and resource eligibility
requirements. To see if you or your loved one may be eligible for Medicaid,
contact the Larimer County Department of Human Services at 970-498-6800.
