There are four ways: private pay, long term care insurance, Medicare (very limited) and Medicaid. Medicaid is the only government program that will pay for nursing home care (which can cost over $150,000 per year). Planning can be done in advance, or even in crisis, to protect some if not all of one’s assets while accessing Medicaid. The eligibility rules are very complicated and the Medicaid application process can be overwhelming without professional guidance.

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