Long Term Care Planning
Planning for long term care involves considering possible health care needs in the future. Long term care includes home health care, assisted living, and nursing home care. Because the costs for long term care can vary quite a bit, planning also involves considering the various choices available to fund long term care such as life time savings, long term care insurance, reverse mortgages and life settlements, and government benefits such as Medicare, Medicaid, and Veterans Benefits. In order to benefit as much as possible from the various options, planning should be done well before the need for care has arisen.