funding your care
When thinking about how you might pay for your long-term services and supports, you could consider reviewing your current insurance coverage, your own funds, and learn what is covered by government programs.
Medicare
Getting started:
- Assess your possible need for long-term services and supports
- Consider your financial circumstances and how they might change
- Maintain your health and independence.
- Talk with your family about caregiving.
- Get familiar with local resources.
Medicaid
The eligibility requirements for Medicaid and Medicaid long-term services are very complex. Each program has different requirements, and the following resources can help you to learn about Medicaid as a health insurance and Medicaid long-terms services.
Understanding your needs--a quick list of questions to help you reflect on what kind of services could help you:
- How much help you need
- What you need help to do
- Your personal preferences for receiving hands-on care, if and when needed
- How accessible your current home is
- What support can realistically be provided by family or friends
- What is important to you, for example: privacy, social engagement, or both
- The costs and payment options for each setting
veterans care benefits
The Veterans Administration (VA) pays for long-term care services for veterans with service-related disabilities. The VA also pays for certain other eligible veterans and other health programs such as nursing home care and at-home care for aging veterans with long-term service and support needs. To learn about VA benefits, the following resources are available:
- US Department of Veterans Affairs Geriatric and Extended Care—this website provides information on the full range of long-term services and supports available through the VA as well as decision-making tools and supports.
- Veterans Administration Healthcare Services Locations a amp with locations where Veterans can receive healthcare.
- Veterans Choice Program—You may be able to receive non-VA healthcare rather than waiting for an appointment or traveling to a VA facility.
- Washington State Department of Veterans Affairs
OTHER OPTIONS
Social Security can provide you, your spouse and other eligible family member with benefits
To learn more about Social Security benefits, Social Security benefits planners can help you understand your Social Security protection as you plan for your financial future.
- Retirement benefits planner
- Disability benefits planner
- Survivor benefits planner
Understand what is covered by government programs and what is not
Very few government programs will help pay for your long-term services and supports expenses. Those that do, have strict limits on who is eligible and what is covered. Most people won’t qualify for Medicaid for long-term services and supports. It is important to learn and understand what long-term services and supports Medicare and Medicaid will and won’t fund. If you or your spouse is a veteran, Veteran Administration long-term services and supports might provide good options for your care.
Additional private pay resources
- Long-term care insurance
- Disability insurance
- Home equity/Reverse mortgage
- Life insurance
For more information on these options, it may be beneficial to seek legal and/or financial planning consultation.