1. 1.Medicare: Reimbursement for up to 100 days in a nursing home per stay. Medicare does not pay for long-term care needs, only short-term care for rehabilitation and recovery in a nursing home. Nursing Home stays are prescribed and pre-approved by a medical doctor.  Click here for more information on Medicare benefits.

  2. 2.Private-Pay: If you have money saved to pay for care yourself, you will be able to privately pay for care services in your home or in a senior care community.

  3. 3.Long-term Care Insurance: You may purchase a long-term care insurance policy which does provide payment for care services in a senior’s home or in a nursing facility. Long-term care can be purchased at any age, with pricing connected to your age and health.  Click here for an overview of long-term care insurance.

  4. 4.Reverse Mortgage: If you own your home, you may qualify for a reverse mortgage where you will receive a monthly payment which you may use for care services. If your home has significantly increased in value, this may be an option. Reverse mortgages are highly regulated by the government and always include an end date.  Click here for an overview of reverse mortgage.

  5. 5.Veteran’s Aid & Attendance Benefit: U.S.A. Veteran’s of a war will qualify for the Veteran’s Aid & Attendance benefit which will provide for a private caregiver to assist with care needs in the home.  Click here for an overview of the Veteran’s Aid and Attendance Benefit and application.

  6. 6.Medicaid: Low-income seniors with few assets (usually around $2,000.00), qualify for Medicaid insurance (this kicks in for Medicare – some refer to it as “welfare for seniors). This program is administered by each state and because of this the qualifications and benefits vary by state.

Paying For Senior Health Care

6 Ways Seniors Pay For Their Healthcare  Provides Free, Reliable Senior Information and Resources

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