Long-term care – the Medicare gap! Medicare & long-term care insurance for seniors is like understanding that Medicare doesn’t generally cover long-term care costs, and long-term care insurance can help fill that gap. Long-term care refers to services needed for daily living due to chronic illness or disability, like care in nursing homes, assisted living, or at home. The twist? Medicare primarily covers medical care, not long-term custodial care. Long-term care insurance is a separate type of insurance that can help pay for these costs, but it can be expensive and is best purchased before health issues arise. Planning for long-term care is a crucial part of retirement financial planning. It’s like planning for a potential future need, even if you hope you’ll never need it. Actionable Tip: Learn about long-term care and its potential costs. Understanding long-term care is important for future financial planning and family discussions about aging and care needs.