Unfortunately, there is a huge disconnect across America about who will be paying for long term care and the total cost. There are several common alternatives to paying for long term care insurance to assist you. These include:

• Low or no cost, in which your friends, family or spouse pitches in to take care of you, if they are able to and willing to do so. The time involved each day will vary widely, but many other family members and spouses may have to reduce their work schedule or quit their job entirely in order to assist you.
• Low or medium cost. Personal care assistance, home health aides and companions can come to your house regularly to assist you with what you need. Genworth’s 2016 Cost of Care survey identified that the median rate in 2016 was a $125 for licensed homemaker services. The median daily rate for an adult day care facility is $68 so this can plow your retirement savings quiet quickly.
• High Cost. The most expensive option for a loved one who needs assistance is placing him or her in an assisted living facility or a nursing home. The median monthly rate for an assisted living facility according to the Genworth survey was $3628.

Looking at the low-cost alternatives and the time to figure out what will work most for your individual family members is strongly recommended. However, it can be extremely expensive to try to figure out the best opportunities for your loved ones. Talking to an estate planning lawyer can help you to identify whether Medicaid and other options are available to you and how to plan for them appropriately.