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Old 07-20-2014, 02:24 AM
71,511 posts, read 71,674,131 times
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Originally Posted by selhars View Post
mathjack, you say "if approved" and also that 5 years coverage is required before the state picks up the tab.

Can you please clarify?
-- what's the "if approved" refer to?
-- is it in state law that if a person has a five year LTCI policy then the state will pay?, and MUST that policy be a partnership policy, or any LTCI policy?

we just applied for LTC and have to be accepted. i am pre diabetic and not sure if they will accept me or not.

the 5 year window is the time frame you have with LTC policies to shift assets and go on medicaid.

however income from those assets is not protected and the stay at home spouse has an allowance of only 2990 in income and medicaid takes the rest.

some states like ny have special partnership plans available. with a partnership plan you do not have to move assets and income is protected up to 75% over the limit. right now 100% is allowed but they do request a 25% contribution.

the partnership plan is only really good in state , out of state you lose much of the benefit of it.
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Old 07-20-2014, 04:22 PM
Location: Near a river
16,042 posts, read 18,969,510 times
Reputation: 15649
Originally Posted by biscuitmom View Post
Not sure it's possible to open the subject without also opening it to political debate. I'm personally a huge fan of recovery, am bumfuzzled when heirs expect to charge their loved ones' care to taxpayers and still inherit an intact estate. I agree they should be reminded that doesn't always work and am happy I live in a state that's somewhat proactive in pursuing recovery.
It's more complicated than simply recovery. Many folks aren't interested in gaming the system. They are just trying to survive (as not all seniors are wealthy). They worked hard all their lives and saved and invested, but with today's healthcare costs they need some protection. They see lawyers to work within the law to protect as much as they can so they or their spouse will not become destitute. This has to do with the insane and unfeasible cost of skilled nursing care and nursing homes going forward.

In just one generation, from our parents' to ours, costs have skyrocketed out of the ballpark, and much of it is greed in the healthcare industry ($5 for a tiny paper pill dispenser?).

Middle class elders of our parents' generation who were not wealthy went into nursing homes routinely to live out their days and it didn't break the bank or put their spouses in jeopardy. So in some ways, self-protection against the horror of unsustainable cost has some moral ground.
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Old 07-20-2014, 05:20 PM
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Medicaid began in 1965 as a program to provide health care to low income Americans including seniors. Prior to that folks were usually out of luck if they couldn't afford the existing programs. However some would argue that when ever government throws money at something it drives the cost up beyond what would have naturally occured. Some would draw the same conclusions about federal student loans and the rapid increase in college tuition. Some might just might argue that Medicaid is the beast feeding the pig that is consuming public resources. Not a pretty thought nor are there really simple solutions as without the private sector and their profit motive how many less beds would there be available?
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