Maybe you have learned that Medicare won't cover long term care services and you are wondering what options are available for you? You can choose to purchase a Long Term Care insurance plan, but there are some other options available as well. Here are some ideas that may help you with your financial planning for long term care.
· You can use your own personal savings and investment funds if needed.
· 401k plans and IRAs may be used for paying for long term care expenses.
· If you have a life insurance policy, you may be able to cash it in or take a loan out against it.
· If you have a home, you may choose to look into your home equity or a reverse mortgage.