Here are some options which allow you to decide the best fit for your situation.

Long Term Care Insurance: Long term care insurance is designed to help reimburse the cost of skilled or custodial long term care whether that be in a facility or your home. It gives you independence and the power to dictate your care.

Linked Benefits: A linked benefit policy provides a pool of money for long term care expenses (long term care insurance) and allows you to leave a death benefit to help protect beneficiaries (life insurance).

Self-Funding: Another idea is for you to self-fund your long-term care with your own income. In considering self-funding, be sure to set aside enough savings by reviewing the cost of care in your area.

Family Support: Some may look to family members to provide care. When making this decision there are some im

portant considerations such as where will you live, to whether your family will have the time and ability to provide care.

Public Programs: It is a common misconception that the government will pay for long term care expenses. However, Medicare generally covers skilled nursing home care after a hospital stay of at least three days and its coverage for other long term care services is very limited. Medicaid does contribute towards long term care but requires recipients to use their income to pay for care and most of their assets to qualify.

Combine Self-Funding with Long Term Care Insurance or Linked Benefits: Some may decide that a combination of funding sources best suits their needs.