Contrary to popular belief, Medicare does not cover cost of long-term care. Medicare only provides limited coverage for long-term care with many rules to qualify, such as requiring a pre-day hospital stay. Medicaid, the health insurance program for the poor, pays for almost 65% of the patient’s nursing facilities, yet offers only limited, if any, funding for assisted living services in many states. Long-term care insurance, depending on the policy, pays a daily rate and may cover a variety of long-term care settings, possibly including home care.