What this does
This guide helps you understand who actually pays for eldercare, what Medicare covers (and doesn’t), when Medicaid comes into play, and where out-of-pocket costs surprise families the most. It turns a confusing system into a clear financial picture.
Why it's useful
Most families assume Medicare covers long-term care. It doesn’t. That misunderstanding leads to delayed planning, rushed decisions, and financial stress during an already emotional time. This prompt helps you see the full cost landscape early, so you can plan realistically instead of reacting in crisis mode.
Use This Entire Prompt:
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Prompt
I want help understanding how eldercare would likely be paid for in my specific situation. Ask me questions one section at a time and wait for my response before continuing.
Start by asking about the person needing care:
- Age: [age]
- Relationship to me: [self / parent / spouse / other]
- Current living situation: [independent / with family / assisted living / skilled nursing]
- State of residence: [state]
Next, ask about health and care needs:
- Current medical conditions
- Level of daily assistance needed
- Whether skilled nursing or memory care may be needed
- Expected timeline: [short-term / long-term / unknown]
Then ask about finances:
- Monthly income sources (Social Security, pensions, etc.)
- Savings and assets (approximate ranges are fine)
- Home ownership status
- Existing insurance (Medicare, Medicare Advantage, Medigap, long-term care insurance)
Explain clearly, in plain language:
- What Medicare will cover in this situation
- What Medicare will not cover
- When Medicaid may apply and what eligibility generally looks like
- Typical out-of-pocket costs for in-home care, assisted living, and nursing care in my state
End by giving me a practical planning summary that includes:
- Likely monthly cost ranges
- Financial gaps to prepare for
- Questions to ask a financial advisor or elder law attorney
- Immediate steps I should take next
How this helps you
You’ll stop guessing and start planning. Instead of being blindsided by costs, you’ll understand your options, your risks, and your next best moves—before money decisions become urgent or emotional.
