Medicare Doesn’t Cover Long-Term Care
A lot of seniors are well aware of how expensive long term care is in America. On average you can get a private room in a nursing home for $102,200, though these prices are also expected to go up in 2020 and 2021. Alternatively, a room in an assisted-living facility costs around $48,612.
Still, a lot of families may opt for a home health aid. For 44 hours a week, you would pay an average of $52,624.
As expected, none of these are covered by Medicare. The program does, however, cover some skilled nursing services, but it will not cover custodial care such as help with dressing, bathing, and other daily living activities.
In order to cover these massive costs, you should focus on combining long-term-care and live insurances, otherwise, your savings will drain exceptionally fast. While you’re at it, read up on Medicare rules for home health care. Since there are strict rules the program has to follow, you want to ensure you’re not missing any important coverage as you age.
