SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. As we age, many of us will need some form of long-term care, whether at home or in a facility. With nursing home costs averaging over $90,000 per year, long-term care expenses can add up quickly. While Medicaid can help you cover these costs, it has strict eligibility requirements that may require you to spend down your assets first. If it pays out funds to recipients who are later deemed ineligible, Medi ...