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Old 12-27-2015, 02:54 PM
 
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Quote:
Originally Posted by MaryleeII View Post
How would they know what jewelry you have, unless you wear it to a Medicaid interview? Or have created some paper trail, like an insurance rider, and still how can they get into that? At least here in Texas they leave you your wedding ring....
but probably take the engagement ring
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Old 12-27-2015, 03:08 PM
 
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Quote:
Originally Posted by MaryleeII View Post
How would they know what jewelry you have, unless you wear it to a Medicaid interview? Or have created some paper trail, like an insurance rider, and still how can they get into that? At least here in Texas they leave you your wedding ring....
You might have misunderstood,
You can keep all of your jewelry.
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Old 12-27-2015, 03:09 PM
 
Location: Near a river
16,042 posts, read 19,080,399 times
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Quote:
Originally Posted by mathjak107 View Post
...as expensive as our LTC INSURANCE is i rather pay it
You probably already posted the answer, but how many years for each of you does your policy cover, and what % of expense each year?
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Old 12-27-2015, 03:20 PM
 
Location: Near a river
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Quote:
Originally Posted by Harpaint View Post
Borninsac makes a good point IMO. None of my family members has ended up in a care facility of any sort, and they have all lived for 84-102 years.
None of my own family members ended up in a nursing home except a grandfather who went into a Veteran's home. My grandmother who lived with us died at home. My spouse's grandmother went into a posh place in Conn. that was neglectful; the other of his grandmas had little money and her political cronies got her into a nice place in NH but she shared a room and didn't care. She lived to 101. His mom just died at 92 at home, his dad the same age is going strong at home and will likely die there. My mom would have killed herself before going into any facility; she had the "pill" ready just in case and she died at home (living alone) at 91.

In comparison with past generations, it does seem that boomers are worrying a whole lot more (and perhaps not as feisty?). The reason is of course that end of life care is exorbitantly expensive for our generation and generations to come. And more so with every passing year. And few of us are going to be living with, and cared for, by our kids, plus we are rather used to our luxuries and comforts while previous gens of elders aged and died with a lot less.
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Old 12-27-2015, 03:21 PM
 
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Quote:
Originally Posted by RiverBird View Post
You probably already posted the answer, but how many years for each of you does your policy cover, and what % of expense each year?
we took 3 years to meet the partnership agreement at 350 per day and the payout increases 5% per year .

we figured we can handle any difference in daily rate fine
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Old 12-27-2015, 03:23 PM
 
Location: Near a river
16,042 posts, read 19,080,399 times
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Quote:
Originally Posted by mathjak107 View Post
revocable trusts are not exempt and are all countable as assets . they just don't probated
Yes, so naming the kids as trustees in an RT, if you still own the deed to the home, does nothing to protect it from being countable.
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Old 12-27-2015, 03:24 PM
 
Location: Near a river
16,042 posts, read 19,080,399 times
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Quote:
Originally Posted by mathjak107 View Post
we took 3 years to meet the partnership agreement at 350 per day and the payout increases 5% per year .

we figured we can handle any difference in daily rate fine
So what happens if you're still in the facility past the 3 years of the agreement? Like many more years, or permanently? The pay reverts to private?
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Old 12-27-2015, 03:25 PM
 
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as far as i know anything not held personally by husband and wife is countable unless in an irrevocable trust
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Old 12-27-2015, 03:26 PM
 
Location: Near a river
16,042 posts, read 19,080,399 times
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Quote:
Originally Posted by mathjak107 View Post
i know nothing about this yet
http://www.nytimes.com/2015/01/26/ny...ents.html?_r=0
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Old 12-27-2015, 03:28 PM
 
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Quote:
Originally Posted by RiverBird View Post
So what happens if you're still in the facility past the 3 years of the agreement? Like many more years, or permanently? The pay reverts to private?
after the 3 years insurance is used up a special version of medicaid called mec picks up all costs . with mec there is no look back , no shifting of assets needed and no income restrictions on the spouse at home .

it covers in home care for 6 years .
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