The Long Term Care Conundrum: A Wake Up Call for Retirees The latest report from CNBC highlights a crucial aspect of retirement planning that often gets overlooked: the distinction between Medicare and Medicaid when it comes to long term care.
As experts warn, retirees assuming their Medicare coverage will handle extended care needs may be in for a rude awakening – one that could cost them upwards of $115,000 per year.
Medicare's primary function is to cover acute medical conditions, not ongoing custodial or nursing home care.