Medicare will definitely not cover all of the expenses associated with your long term care, and it may not even cover any of the costs. Under the following limited circumstances, Medicare may pay for a portion of the duration of a stay in a skilled nursing care facility:
Once these requirements are met and coverage is approved, Medicare will cover the entire cost of the first 20 days of skilled nursing care. After the first 20 days, a daily copay is required for days 21-100 days. After 100 days Medicare will no longer pay for any of the skilled nursing facility.
Given Medicare's limited coverage, it is very important to consider long term care costs in your estate planning. Please contact us to discuss your long term care planning goals.