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INSURANCE Medicare
does not pay for extended long-term care services such as adult day care or assisted
living. Medicaid on the other hand will pay for nursing home care only after an
individual has spent nearly all his or her savings. The Administration on Aging
notes "retirement accounts such as 401(k)s do not yield enough money to pay for
assisted living services, which often are needed for many years and can run into
the tens or hundreds of thousands of dollars." Long term
care is a difficult topic to understand. For many it is also a painful subject
that most would prefer not to think about, either for their parents or themselves.
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