November 01, 2015

How to Fund Long-Term Care Without Medicaid

Eileen Walsh

There is no disputing that ever-expanding life expectancy is the new normal for Americans. Data for the year 2013 from the U.S. Centers for Disease Control and Prevention shows a life expectancy for men of 76.4 years and a life expectancy for women of 81.2 years (National Vital Statistics Report, vol. 64, 2013). With this new normal comes the increased likelihood of a need for long-term care in our later years. An elder law practitioner will often have discussions with clients, whether in pre-planning or crisis cases, of how to fund long-term care for themselves or family members. This article will highlight some ways people choose to fund long-term care without Medicaid. This is only an introduction because the benefits, complexities, nuances, and strategies of each method cannot be thoroughly addressed in an article of this size. Moreover, it is important to note that what works for one family may well not work for another family, and it is not unusual for a person or family to employ multiple strategies in tackling the issue of funding long-term care.

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