Long Term Care Insurance
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Spousal care giving
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Sale of home
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Elders who are able to purchase long term care insurance, do so with the intent to use it to pay for their care. They often choose this option to protect an estate or to provide an inheritance for their heirs. Additional resources are commonly needed (savings, Social Security, or pensions) to cover expenses not paid for by a policy.

Often one spouse provides care for the other in their home. This is chosen as an option to save money and for emotional reasons. It usually continues until the health of the frail elder deteriorates or the elder dies. Sometimes it is discontinued when the originally healthier spouse becomes too overwhelmed or ill to provide care.

While many families are willing to divest of other assets, they hesitate to sell the family home for financing for long term care. Many families feel this is an asset that should be protected from Medicaid for financial and emotional reasons.