Paying for Long-Term Care
Nobody wants to think about having to rely on others for care, but it’s essential to plan ahead for such a possibility. The cost of long-term care services—whether provided in the home, at a community facility or in a nursing home—will not be covered under major medical plans or Medicare and often exceeds what the average person can pay from income and other sources. One alternative to paying entirely out of your own pocket is long-term care insurance. By paying an annual premium, you can transfer the risk to an insurance company and help protect your assets from rising health care costs.
https://www.morganstanley.com/articles/retirement-challenges
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