NerdWallet's Smart Money Podcast · NerdWallet Personal Finance

Long-Term Care Costs: Medicaid vs Private Pay, Plus Talking Money While Dating

February 9, 2026·45 min·4 clips

54% of Americans say lying about your finances is a hard pass in dating—why are so many still hiding money secrets?

Hosts Sean Piles and Elizabeth Ayola open with credit card writer Sarah Rathner discussing NerdWallet's annual dating and money study. Key findings include that 54% of Americans consider lying about your financial situation to a partner a hard pass, yet 50% of people in relationships have done exactly that, creating a logical inconsistency that the hosts enjoy. The dealbreaker of any amount of credit card debt, held by 17% of respondents and up from 10% the prior year, is discussed alongside the 32% who say living with roommates or family is a dealbreaker, which the hosts find surprising given the prevalence of roommates in high-cost cities. Sarah notes that in New York and similar cities, having roommates can be a financially savvy choice that allows someone to take a partner out to nicer dinners than they could otherwise afford. The conversation is grounded in the reality that financial judgment and actual financial behavior diverge significantly in what people tell survey researchers. The main episode segment addresses a listener who is concerned about how to pay for senior care. The hosts explain that nursing home care in the United States has a median annual cost of over $100,000 and that most people are unaware that Medicare does not cover long-term custodial care. Medicaid does cover nursing home care but requires spending down assets to low thresholds, which can leave a healthy spouse impoverished. The program called spousal impoverishment protection allows the community spouse to retain some assets and income. Long-term care insurance is discussed as a planning tool with significant premiums that have risen sharply as insurers underestimated longevity. The alternative of self-funding through investment portfolios is reviewed, along with hybrid life and annuity products with long-term care riders that have emerged as alternatives to traditional long-term care insurance.

As heard by us

A practical listen about aging costs and the money talks that shape relationships.

NerdWallet starts with a dating-and-money conversation before settling into the harder question of how to handle senior care when family help is uncertain.

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Why you'd press play

You want a clear take on paying for senior care and on money-based dating deal breakers.

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