Part 1: LTC Myths

摘要

Understanding long term care (LTC) is important but not always easy. Phil Dyer, CFP, dispels some myths about long term care so you can make the necessary decisions to protect your assets. Welcome to part 1 of a three-part series on the challenges of long term care. As baby boomers enter retirement age, there is a renewed focus on long term care as costs continue to increase. Unfortunately, there is a lot of misinformation surrounding long term care needs and costs and who pays for it. Myth 1: Medicare pays for long term care. Medicare provides very limited long term care coverage, generally a maximum of 100 days of skilled facility care that does not include many assisted-living facilities and home health care situations.