Does Medicare Cover Assisted Living?
It's estimated that 70% of seniors 65 and over will end up needing some type of long-term care, whether it's a nursing home or an assisted living facility. Assisted living facilities are designed to help seniors retain some degree of independence by providing what's known as custodial care, which encompasses help with functions such as bathing and dressing. Nursing homes, by contrast, are generally more suitable for seniors with medical issues or who need active monitoring.
If you're struggling to function on your own but aren't at the point where you need a nursing home, it pays to look into the assisted living communities in your area -- assuming you can afford one. Unfortunately, assisted living doesn't come cheap. And the kicker? Medicare won't help pay for it.
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Source: Fool.com