An individual can’t always save enough to eliminate the financial risk posed by several years of dementia care, assisted living or continuous personal assistance. Related:The Partnership That Never WasClients should obtain realistic information about the cost of care in their own communities and understand the differences among home care, assisted living, memory care and skilled nursing care. For example, in New York, Medicaid reimbursement rates are substantially lower than private-pay rates, and Medicaid eligibility applications can take considerable time to process. The practical result is that financial eligibility for Medicaid doesn’t always translate into timely access to a willing provider. Recovery may be defensible in principle when an individual had assets available after death, and the public paid substantial care costs.