Financial Options for Long-Term Care
When deciding which care is in your price range and how to pay for it, there are many options to consider. This page offers a few options that may help make paying for memory care easier.
Making sure a loved one gets the right long-term care is a task in and of itself, and navigating the funding options and different payment methods adds additional levels of complexity to an already-arduous process.
Here are some common options to bring up with your financial professional when budgeting for the cost of memory care and home care:
- Long-term care insurance
- Veteran’s benefits
- Secured lines of credit
- Reverse mortgage
- Life Insurance
- Gift Tax Exemption
- Tax Deductions