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Does Social Security Cover Long-Term Care?
Reducing these expenses substantially can help pay for assisted living withSocial Security income.
Even so, Cohen said, Social Security isnt likely to cover the full costs of assisted living.
For lower-income seniors, Medicaid will cover medical costs related to nursing home care.
Medicare has caps on the amount it will pay toward long-term medical care, Cohen pointed out.
And Medicaid only covers costs once other assets have been depleted.
it’s possible for you to also choose a life insurance policy with a long-term care rider.
These policies get more expensive the older you get, he said.
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