If you are reading this article, it is likely because you have had a conversation or situation involving a Nursing Home, Assisted Living Facility, and/or the astronomical costs associated with these types of facilities. Or perhaps you are carefully considering the future and all available options. It is no secret that paying for long term care is one of the biggest concerns most folks have when heading into retirement.
Knowing this, we must consider the ways by which long term care is funded. Nursing homes in general are part of a multi-billion-dollar industry. They provide a service and reasonably expect payment in return.
Someone staying at a skilled nursing facility will typically use either their own funds to pay for their stay, referred to as “private pay,” or they will look to secure a Medicaid benefit.
