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Old 05-28-2017, 06:52 AM
 
Location: Baltimore, MD
3,745 posts, read 4,216,823 times
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I'm surprised that no one has mentioned that Trump's proposed budget severely cuts Medicaid. I suppose most folks believe that the Medicaid cut does not apply to long term care but they would be wrong.

The proposed budget is unlikely to be adopted intact but it should serve as a warning to those who are relying on Medicaid to meet their future NH/AL/Home care needs.
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Old 05-28-2017, 07:08 AM
 
71,547 posts, read 71,712,424 times
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our state contracts with us in our plans so cuts or not they are locked in to their agreements . they will have to conserve elsewhere .

Last edited by mathjak107; 05-28-2017 at 07:37 AM..
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Old 05-28-2017, 11:10 AM
 
8,197 posts, read 11,911,100 times
Reputation: 17974
Quote:
Originally Posted by Mr5150 View Post
But if you believe the insurance company lie that 70% of people over 65 will be in a nurseing home...

So why is it that none of my over 65 year old friends or myself reside in a nursing home? Must be the CA lifestyle
First of all, the plural of anecdote is not data.

Secondly, and more seriously, one thing that is constantly left out of the LTC discussion is that LTC insurance also pays for in-home care. In fact, having such coverage is a major reason why more people aren't in facilities.


Quote:
Originally Posted by matisse12 View Post
Aren't the hard feelings because you are much more likely to use your auto insurance and your homeowners insurance than LTC insurance?
I seriously doubt that people are "much more likely" to make a claim on their homeowner's policy than they are for an LTC policy.

Quote:
Originally Posted by matisse12 View Post
And also as mentioned in another post, once you invest a lot of money into LTC insurance, one dislikes dropping the insurance because then the money invested is lost.
Not necessarily. Some policies allow you to drop the insurance in lieu of accepting a price increase and lock in your coverage up to the amount that has been paid in premiums up to that point in time.

Quote:
Originally Posted by matisse12 View Post
And as posted in a post above, statistics showing that most people will not need LTC insurance can be presented.
And that post was incorrect because the poster used the statistic incorrectly. It is not that 65%-70% of people will end up in nursing homes as he stated; it is that 65%-70% of people will have a need for LTC. (Not all studies agree and some have concluded that it is a lower percentage.) That is a distinction with a very big difference because it covers in home care. As I noted above, LTCI detractors always seem to leave that important detail out either intentionally or through ignorance.
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Old 05-28-2017, 12:06 PM
 
5,426 posts, read 3,448,244 times
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These two articles are helpful for someone looking to buy LTC insurance and give good tips, especially the last parts of the first article.

Long-Term Care Insurance Cost, Nursing Home Insurance - AARP

Long-Term Care Insurance Misconceptions - AARP
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Old 05-28-2017, 12:33 PM
 
29,779 posts, read 34,863,854 times
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Quote:
Originally Posted by rjm1cc View Post
Try to look for professional orientations that you may belong to or able to join as they may have a good "group" policy. Also look at your work benefits as they may offer it.

Their are combined life insurance and LTC policies. Look at these.

I think some states have plans that help protect assets from medicaid assessment.
Professional associations and group plans can be great choices.
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Old 05-28-2017, 12:34 PM
 
29,779 posts, read 34,863,854 times
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Quote:
Originally Posted by lenora View Post
I'm surprised that no one has mentioned that Trump's proposed budget severely cuts Medicaid. I suppose most folks believe that the Medicaid cut does not apply to long term care but they would be wrong.

The proposed budget is unlikely to be adopted intact but it should serve as a warning to those who are relying on Medicaid to meet their future NH/AL/Home care needs.
Bada Bing x12
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Old 05-28-2017, 04:00 PM
 
11,127 posts, read 8,537,739 times
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Quote:
Originally Posted by Mr5150 View Post
Excellent point!

Truth be told (from my experience as a former Social Worker) only 15% of people over 65 spend any time in a LTC facility. And most of the time it's for rehab after a hospital stay. Paid for by Medicare. 50% of people 90 die at home.

But if you believe the insurance company lie that 70% of people over 65 will be in a nurseing home...

So why is it that none of my over 65 year old friends or myself reside in a nursing home? Must be the CA lifestyle
It's not about believing a lie. It's about having your bases covered. I'll gladly budget for it and pay for it. That's just me.
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Old 05-28-2017, 04:12 PM
 
Location: Central Mexico and Central Florida
7,100 posts, read 3,460,546 times
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Quote:
Originally Posted by charlygal View Post
It's not about believing a lie. It's about having your bases covered. I'll gladly budget for it and pay for it. That's just me.
I can't believe how many people simply accept going into a nursing home. We don't and we won't. Ever been in one?? Both my MIL (2.5 years after stroke) and FIL (just a few months) were in the top nursing home in DC-Metro (9K a month). OK, it's well run, but jeeze....what a depressing place. I will not watch my husband sit in one and he won't put me in one...that's our pact. Been married 45+ years and we keep our word to each other.
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Old 05-28-2017, 04:18 PM
 
5,426 posts, read 3,448,244 times
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Quote:
Originally Posted by dothetwist View Post
I can't believe how many people simply accept going into a nursing home. We don't and we won't. Ever been in one?? Both my MIL (2.5 years after stroke) and FIL (just a few months) were in the top nursing home in DC-Metro (9K a month). OK, it's well run, but jeeze....what a depressing place. I will not watch my husband sit in one and he won't put me in one...that's our pact. Been married 45+ years and we keep our word to each other.
I think you mentioned earlier that you have a separate quarters on your property where home care workers could live or stay?

If not - or anyway - I have a question - I often read and hear that some people in various health conditions become too much for the spouse and/or home care workers to take care of in their personal home - and they must be moved to a skilled nursing facility or nursing home in order to be cared for.

I wonder what your thoughts are on that.
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Old 05-28-2017, 04:26 PM
 
11,127 posts, read 8,537,739 times
Reputation: 28094
Quote:
Originally Posted by dothetwist View Post
I can't believe how many people simply accept going into a nursing home. We don't and we won't. Ever been in one?? Both my MIL (2.5 years after stroke) and FIL (just a few months) were in the top nursing home in DC-Metro (9K a month). OK, it's well run, but jeeze....what a depressing place. I will not watch my husband sit in one and he won't put me in one...that's our pact. Been married 45+ years and we keep our word to each other.
I'm single, childless, and very little extended family. What else would I do?
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