If you are one of the 70 million people who provide unpaid care for a family member or friend, it’s important for you to know there are some options available for the coverage of home care costs that you may not be taking advantage of.

How does home care compare to the cost of home health, assisted living and other forms of care? Unlike home care services, Medicare will pay for some of these types of services; however, as most caregivers know, the senior is still responsible for a heavy portion of these expenses.

Long-term care insurance can be an effective way to minimize expenses for older adults. Long-term care insurance is intended to reduce out-of-pocket costs if someone winds up needing long-term care from a paid provider. Long-term care insurance can pay for a nursing facility or home care, and many policies also cover assisted living, though no policy will pay the full cost of any of these. People usually pay premiums for 20 or 30 years before reaching an age when long-term care is likely.