HOW TO PAY FOR LONG/SHORT TERM CARE

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Use social security or pension to pay for long term care

Typically most people use their social security checks to pay for this bill, paired with other guaranteed monthly income such as a pension. 

Withdraw money from Ira

Taking money out of an IRA will raise a persons taxable income but the tax deduction basically turns ones IRA into a tax free health savings account.

Looking into veterans aid & ATTENDANCE PROGRAM.

Veterans Administration offering provides up to $1,830 per month for anyone who has service as little as 90 days in the military during a time of war and up to $1,176 for surviving spouse. Calling your V.A. will determine if your eligible and for how much.

Search for whole life insurance policies and savings bonds

Cashing in savings bonds that has been sitting around for years could help with caring for long term care expenses!

activate a chronic illness rider.

If you or your parents own a term life or permanent life insurance policy with a chronic illness rider, you may be able to file a longer term care insurance claim!

Sell a home or get a reverse mortgage

Reverse mortgage allows for a spouse to still live in the home and help pay for longer term care cost at the same