Having ?The Talk? with Dan Tully

Key Takeaways

• Original Medicare is designed for acute medical care and explicitly does not cover long-term care stays in a nursing home or assisted living facility.

• Medicaid, unlike Medicare, can cover long-term custodial care, but applicants must meet strict income and asset limits, requiring strategic financial planning.

• Medicare covers advance care planning as an optional element of the Annual Wellness Visit, allowing seniors to formally discuss end-of-life care decisions with their healthcare provider.