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According to the National Clearinghouse for Long Term Care Information, long-term care (also called long-term services and supports) is “a range of services and supports you may need to meet your health or personal needs over a long period of time.”  

As is evident from that definition, there are a lot of unknowns when it comes to planning for one’s future needs.

A SCAN Foundation report, Overview of Current Long-Term Care Financing Options, by Eileen J. Tell, summarizes consumer options for financing long-term services and supports. 

Options listed in the report include:

As the author acknowledges, there’s no easy answer for financing LTC. Furthermore, there are many misconceptions about what programs and products cover long-term care expenses.   

Whether on behalf of a family member, or for ourselves, most of us will have to grapple with the challenge of paying for long-term services and supports — even if only for a short period of time. 

To further explore this topic, consider reading the SCAN Foundation report and check out the following related resources: