How do I pay for LTC?

How do I pay for LTC?

 

 3 ways to Pay

 1) Private Pay - For people who have sufficient funds to pay for care and will still be able to continue to meet their current financial responsibilities. People who will privately pay will use the funds from their 401k, IRA, 403b, Savings, CDs, Stocks etc.  Cost of Long Term Care can be more than $10,000 per month.

 

2) Long Term Care Insurance - People who had the opportunity, foresight, and financial ability to purchase LTC Insurance. LTC Insurance typically will help pay for a few years. At some point, benefits will run out which often leaves them in the position of needing Medicaid to pay at some future point.

 

 Click to learn about LTC Insurance >>>  LTC Insurance

 

3) Medicaid LTC

What is Medicaid long-term care? The Department of Home and Community Services (DSHS) is part of Washington state government. They help low income seniors get support and services when long-term care is needed at home or in a community setting. 

 

Click to learn about Medicaid >>>  Medicaid

 

Cost of Care varies based on the care setting, geographic location of care and level of care required among other things. 

Genworth Cost of Care in your area

 

Where can care be received? Click on the link below.

 

Washington state Adult Family home locator 

 

cancel