The majority of long-term care costs are paid by Medicaid after you have spent down your assets and meet strict income criteria. After Medicaid, the next largest payer of long-term care is the individual that pays for long-term care out of their personal assets.

Health insurance, HMO's, Medicare, and Medicare Supplement policies pay for very little, if any, long-term care. These types of insurance pay for skilled care of an acute medical nature and for some rehabilitation, as long as there is continual improvement in your condition. These types of coverage usually do not pay for personal aides, homemakers, adult day care, assisted living centers, or skilled nursing home care for chronic conditions.

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