Does health insurance cover long term care expenses?

Medicare and Major Medical health insurance in general pays for hospital and doctor bills, for acute care or conditions and the recovery period.  Health policies do not pay for custodial or personal care.  Custodial care includes help with daily tasks such as eating, getting out of bed, toileting, bathing and remembering to take medications.

Medicaid will pay for long term care expenses including custodial care, but only after you'vequalified by paying down your assets to state mandated levels  (generally $2,000 to $3,000) for an individual.  The well spouse may keep 1/2 of the combined countable assets up to Federally mandated maximums (currently $113,000).

Social Security provides income for day to day expenses but is not adequate to pay for long term care expenses.