You need to do some financial planning as you think about your future. This includes managing your money and paying for your living expenses. You also need to think about paying for assistance as you get older or live with a disability. Some services are paid by the government, others are not. Neither Medicare not Medigap pay for long term care. You need to explore long term care insurance. Learn about the different types of long term care, their costs, and any public programs that may be available in Arizona to help cover expenses.

• Questions to Think About and Ask Others

  Start with these questions. They'll help you focus and point you in the right direction. Be sure to write down your answers.

• Create a Financial Plan

  The University of Arizona Cooperative Extension Office has tools to help you manage your money. Begin with their Financial Planning Process and explore other topics, such as retirement planning, home ownership, and consumer credit.

• Determine how to pay for Long Term Care

  The Medicare Web site offers an overview of Financing Options. Remember that Medicare does not pay for long term care. You need to explore how you can pay for living expenses and any support services you need.

• Educate yourself about care and support services

  Learn about the types of long term care and the services available to you. Visit the Options Counseling page on Planning for Long Term Care page to find out about services, costs, and resources in Arizona.

• Think about your Living Arrangements

  How we live is very important for our well-being, and housing is always a major expense. Explore the AZ Links Housing Options and Long Term Care Resource pages to find additional information when considering alternative living arrangements. Many organizations such as your local Area Agency on Aging can help you locate housing that is suitable for older adults and persons with a disability.

• Consider Long Term Care Insurance

  Long term care insurance can protect an individual’s assets and offer peace of mind. A good long term care policy will cover those services essential for maintaining an individual at home. It can also help pay for assisted living and skilled nursing care facilities. The cost of a long term care insurance policy primarily depends upon the age of the policyholder when purchased. The planning kit, "Own Your Future: Planning for Long Term Care" from the Administration on Aging focuses on finances. It can also help you determine if and which long term care insurance is appropriate for you. By providing your zip code, this 28 page kit can be downloaded or ordered at no cost to you.

• Check out Government Programs

  If your income is limited or if you have a disability, you may be eligible for public programs. Explore the AZ Links Financial Help page for additional information and resources.

• Learn about Reverse Mortgage Loans

  A reverse mortgage is a special type of home equity loan. You receive cash against the value of your home without selling it. The loan secured by the home does not need to be repaid until the borrower dies, sells the home or moves out permanently. To be eligible for a reverse mortgage loan, you must be at least 62 years old and own your home (which must be your primary residence). There are no income requirements. You can have an existing mortgage, but you must be able to get enough from the reverse mortgage to