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Old 02-28-2017, 03:44 PM
 
Location: R.I.
980 posts, read 607,104 times
Reputation: 4258

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Quote:
Originally Posted by Hemlock140 View Post
That still happens. Ask any millennial tech worker in Silicone Valley or here in Seattle making $200k+ what their parents did, and you will find them to have made a much more modest living.

With such laws or not, that is still happening. We had to help my mother-in-law when she went into assisted living, and now my siblings and I often have to help our parents financially and otherwise. They took care of us for 18-20 years, now we have a chance to help take care of them for probably less, 10-15 years.
Helping parents out financially here and there to make ends meet in one thing, but paying an annual nursing home tab with the average cost being $80,000 I know very few people who could afford that cost and continue to keep a roof over their own heads and food on their tables.

Certainly there is the argument that our parents supported us for 18 or more years, and with current data noting the average cost of raising a child to age 18 minus college expenses is $300,000 that works out to $16,667 a year which is much more manageable spread out over 18 years than it is to writing an $80,000 annual check to a nursing home which $300,000 would only cover 3.75 years of care. This is the reason why very few in nursing homes today are in a private pay status, and those that start out in private pay status transition to Medicaid very quickly because with an $80,000 + annual cost even those with means deplete them pretty quickly.
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Old 02-28-2017, 04:13 PM
 
911 posts, read 531,662 times
Reputation: 3720
Quote:
Originally Posted by Nightengale212 View Post
Helping parents out financially here and there to make ends meet in one thing, but paying an annual nursing home tab with the average cost being $80,000 I know very few people who could afford that cost and continue to keep a roof over their own heads and food on their tables.

Certainly there is the argument that our parents supported us for 18 or more years, and with current data noting the average cost of raising a child to age 18 minus college expenses is $300,000 that works out to $16,667 a year which is much more manageable spread out over 18 years than it is to writing an $80,000 annual check to a nursing home which $300,000 would only cover 3.75 years of care. This is the reason why very few in nursing homes today are in a private pay status, and those that start out in private pay status transition to Medicaid very quickly because with an $80,000 + annual cost even those with means deplete them pretty quickly.
I know these laws haven't been actually enforced for years but I wonder if that will change. With advances in medical care people are living much longer but with chronic ailments that will require years of long-term care. I know of several families that are counting on Medicaid to provide for rest homes. Seems like this will cost billions with the number of people aging.
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Old 02-28-2017, 04:33 PM
 
1,487 posts, read 415,361 times
Reputation: 858
Makes me wonder about the upcoming cuts to Medicaid.
We bought LTC insurance and pay high premiums,
May be glad we did someday....
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Old 02-28-2017, 04:33 PM
 
Location: Ohio
19,935 posts, read 14,249,679 times
Reputation: 16113
Quote:
Originally Posted by Coloradomom22 View Post
I recently read this article Who will pay for Mom's or Dad's Nursing Home Bill? And was surprised to find that there have been a few cases where states are upholding old filial laws making children responsible to pay for their parents' long term care. As a flood of seniors enter this phase of life with inadequate funds to pay for their own care I wonder do you think these laws will be used even more?
These are the States that have filial laws:

Alaska
Kentucky
New Jersey
Tennessee
Arkansas
Louisiana
North Carolina
Utah
California
Maryland
North Dakota
Vermont
Connecticut
Massachusetts
Ohio
Virginia
Delaware
Mississippi
Oregon
West Virginia
Georgia
Montana
Pennsylvania
Indiana
Nevada
Rhode Island
Iowa
New Hampshire
South Dakota


Son Liable for Mom's $93,000 Nursing Home Bill Under 'Filial Responsibility' Law

Son Liable for Mom's $93,000 Nursing Home Bill Under 'Filial Responsibility' Law | ElderLawAnswers
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Old 02-28-2017, 05:02 PM
 
13,942 posts, read 7,429,050 times
Reputation: 25448
I've written about this several times on the City-Data Retirement board.

My mom is in assisted living with dementia problems. She's on a trajectory to run out of money in about 4 years at her current burn rate. My sister lives in Canada so she's untouchable. I'm concerned I have some risk that the state will chase me for huge piles of money.

Right now, filial responsibility laws are only being used for Medicaid claw back for the 5 year lookback or fraud/embezzlement; and by private nursing homes who get stiffed with a big unpaid bill. Today, Medicaid is paying for more than half of all long term services and supports. Most of that is the elderly. It's about 30% of the Medicaid budget and growing quickly. As was pointed out earlier in this thread, if Medicaid gets slashed, Medicaid support for elderly service gets slashed. The states are inevitably going to go hunting for deep pockets to pay those nursing home bills.
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Old 02-28-2017, 05:36 PM
 
Location: Seattle/Dahlonega
547 posts, read 388,790 times
Reputation: 1553
Quote:
Originally Posted by Hemlock140 View Post
That still happens. Ask any millennial tech worker in Silicone Valley or here in Seattle making $200k+ what their parents did, and you will find them to have made a much more modest living.

With such laws or not, that is still happening. We had to help my mother-in-law when she went into assisted living, and now my siblings and I often have to help our parents financially and otherwise. They took care of us for 18-20 years, now we have a chance to help take care of them for probably less, 10-15 years.
The local tech workers or the ones from India?
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Old 02-28-2017, 07:02 PM
 
12,825 posts, read 20,154,879 times
Reputation: 10910
Quote:
Originally Posted by Hemlock140 View Post
That still happens. Ask any millennial tech worker in Silicone Valley or here in Seattle making $200k+ what their parents did, and you will find them to have made a much more modest living.

With such laws or not, that is still happening. We had to help my mother-in-law when she went into assisted living, and now my siblings and I often have to help our parents financially and otherwise. They took care of us for 18-20 years, now we have a chance to help take care of them for probably less, 10-15 years.
Sure there are a few people making really big bucks amongst the under 35 crowd. But such is not the norm.

Generationally speaking, in terms of financial outcomes, here is the ranking:

Best - Silent
2nd best - Boom
2nd worst - X
Worst - Millennial

Taking this into account, then taking into account the inevitable take over of politics by the large Millennial cohort, it will be interesting to see whose oxen end up getting gored.
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Old 02-28-2017, 08:00 PM
 
Location: Los Angeles area
14,018 posts, read 17,751,136 times
Reputation: 32309
It is one thing to have a lookback period in an effort to spot massive transfers of assets to adult children in an attempt to throw all the nursing home costs onto Medicaid, and it is quite another thing to make adult children responsible for paying their parents' bills. Consider this scenario:

1. You are an adult child who was abused/mistreated by your parents when they were raising you.
2. In addition, your parents were always irresponsible with their money and you had no control over that.
3. Now thety are old, in a nursing home, and the state comes after you to pay for it.

To say that is a gross miscarriage of justice is an understatement. It is outrageous.

Last edited by Escort Rider; 02-28-2017 at 09:12 PM..
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Old 02-28-2017, 08:15 PM
 
6,215 posts, read 2,877,190 times
Reputation: 15753
Buyer be ware in matters of long term facilities.

I live in a state active in this convenient law. And yes these homes graciously slip into the registration paperwork this acknowledgement and your voluntary consent.
I ripped that page up and said...Get me another one...My lawyer will review. Seems that our little naiveness is what these homes are counting on.
For so long as a person can receive home assistance...Choose that. We created this problem when suddenly we tossed out a generation from circulation..
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Old 02-28-2017, 08:21 PM
 
26,009 posts, read 33,025,684 times
Reputation: 32240
Quote:
Originally Posted by Coloradomom22 View Post
I know these laws haven't been actually enforced for years but I wonder if that will change. With advances in medical care people are living much longer but with chronic ailments that will require years of long-term care. I know of several families that are counting on Medicaid to provide for rest homes. Seems like this will cost billions with the number of people aging.
I seriously doubt it. Most people simply cannot afford such costs.
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