If the time comes when you can no longer manage daily living in your own home or with family members, an apartment in an assisted living facility could be the next best thing.

But if you, like many, were thinking that Medicare will cover the cost of assisted living, think again. Medicare isn’t designed to pay for long-term care.

“At the end of the day, your options for paying for long-term care in this country are two: You pay (completely) out of pocket or you pay out of pocket until you get to the point where you impoverish yourself and then go on Medicaid,” says David Kyllo, executive director of the National Center for Assisted Living, or NCAL, in Washington, D.C.

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