Why we chose it: We chose New York Life as the best long-term care insurance company for financial stability because it has ...

Medicaid is a joint federal and state health insurance program designed for low-income individuals that can help cover some of the costs associated with long-term care, including assisted living.

Medicaid is a federal program jointly funded with the states, providing health and long-term care insurance to more than 80 million low-income Americans.

Stand-alone long-term care insurance policies have been waning in popularity, owing to a combination of skyrocketing premiums and difficult claims experiences by consumers. In their place, so-called ...