Many people think Medicare covers long-term care, such as nursing home and home health services. The truth is Medicare only covers limited post-hospital care in a nursing home. Help with personal needs like bathing and dressing are not covered. Don't count on Medicare to pay for your long-term care.

While it is true that Medicaid covers some long-term care, it only provides benefits to those living below the state required level. To be considered, you would have to spend down nearly all of your assets. It does not cover assisted living or home health care.
To learn more about long-term care insurance, please click here.