Tuesday, January 13, 2015
Will Medicare Pay For Long Term Care?
According to U.S. Department of Health and Human Services, people will be needing long term care at some point of their life. Yet most people underestimate the cost of that care.
A March 2014 National Health Policy Forum report, National Spending for Long-Term Services and Supports, found that the average cost of nursing home care in 2012 was $81,030 per year for a semi-private room and $90,520 for a private one. If you’re thinking that Medicare will pick up the tab, that typically isn’t the case. The following, which will help you better understand which long-term care services Medicare does—and doesn’t—cover, is based upon two U.S. Department of Health and Human Services publications, Medicare & You 2015 and Medicare, Medicaid & More.
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