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Old 09-19-2017, 09:18 PM
 
20,534 posts, read 16,611,821 times
Reputation: 38560

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Quote:
Originally Posted by yellowsnow View Post
It is pointless for me to worry about this because I can't change my circumstances. I make too much to get anything for free and too little to afford insurance. So yeah, if I need to be in a nursing home it will be that one in Florida. All I can do is hope I am so demented I don't know the difference.
My long term plan is hoping my niece will let me live in a granny pod in her backyard in exchange for my social security check.
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Old 09-20-2017, 07:47 PM
 
Location: Baltimore, MD
3,745 posts, read 4,215,210 times
Reputation: 6866
I read the Graham-Cassidy bill. I don't think it will pass but it should serve as a wake up call to those who are relying on Medicaid to cover their future long term care expenses. I can't believe anyone here truly intends to spend down to qualify for a "benefit" that may not even exist in the future but just in case...you might want to reconsider.
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Old 09-20-2017, 08:51 PM
 
3,455 posts, read 2,324,594 times
Reputation: 6998
Quote:
Originally Posted by TheShadow View Post
Sorry, but no. One can have "financial stability" with much less, and in many different forms. A pension or annuity can provide financial stability. So can reducing your expenses to meet your budget, whatever that budget might be. I know many, many financially stable retired people (I'm one) who have no where near that amount, and never will.
Thank you. You said what I was going to say.
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Old 09-20-2017, 10:04 PM
 
3,079 posts, read 818,180 times
Reputation: 1709
Quote:
Originally Posted by lenora View Post
I read the Graham-Cassidy bill. I don't think it will pass but it should serve as a wake up call to those who are relying on Medicaid to cover their future long term care expenses. I can't believe anyone here truly intends to spend down to qualify for a "benefit" that may not even exist in the future but just in case...you might want to reconsider.
Most who end up relying on Medicaid to cover their future long term care expenses have no substantial assets to spend down after a period of increasing illness. Medicaid beds are not a destination of choice.

Medicaid spend-down regulations may well change with longer look-back periods and the like. But for it to be a "benefit" that does not exist in the future means putting Granny - and a sick one, at that - out on the street.

Seems to me I've heard rhetoric along the lines that no political party advocates doing that. Is no political "promise" to be believed. Ever?

Last edited by EveryLady; 09-20-2017 at 10:31 PM..
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Old 09-20-2017, 10:26 PM
 
3,079 posts, read 818,180 times
Reputation: 1709
Quote:
Originally Posted by craigiri View Post
800K isn't really that much. The problem was the early age....

It's well known these days that a couple needs a minimum of 2 to 2.5 million in addition to their home to have some sort of financial stability. ...
Quote:
Originally Posted by TheShadow View Post
Sorry, but no. One can have "financial stability" with much less, and in many different forms. A pension or annuity can provide financial stability. So can reducing your expenses to meet your budget, whatever that budget might be. I know many, many financially stable retired people (I'm one) who have no where near that amount, and never will.
The post that craigiri was responding to referred to the financial impact of dementia where costs were already at $800,000 and climbing. Here, financial stability isn't a matter of funding a normal or hoped for retirement but how to fund a long-term illness requiring around the clock care (custodial or otherwise) that lasts many years.

Very few Americans - LTCi or not - can anticipate being able to fully fund dementia care. Most end up depending on spousal care or care from children or Medicaid or a combination of the above. The "safe zone" to self-insure for a couple under the assumption that both are unfortunate enough to develop dementia - IS about $2.0 to 2.5 million for a couple. Nothing left for the heirs, but also no Medicaid bed.

I've seen projections as low as $800,000 minimum in liquid assets (not including real estate or the future value of a pension or social security) for a single to have some "guarantee" of a future free from Medicaid.

Do the math. $100,000 a year for how many years ... Sure, the LTCi that's purchasable *today* may fund *part* of that bill for a few years but the worst-case scenario for many remains unfunded.
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Old 09-21-2017, 05:03 AM
 
10,604 posts, read 14,193,877 times
Reputation: 17200
Quote:
Originally Posted by lenora View Post
I read the Graham-Cassidy bill. I don't think it will pass but it should serve as a wake up call to those who are relying on Medicaid to cover their future long term care expenses. I can't believe anyone here truly intends to spend down to qualify for a "benefit" that may not even exist in the future but just in case...you might want to reconsider.
Weird that wealthy Millionaire people are perfectly happy with their fellow citizens paying for their Obamacare subsidies and you never see ANYONE complaining about it.

In fact, on this very forum they're all "YEAH! Work the system!".

Almost free health insurance for retired millionaires?

So you're suggesting NOW suddenly TRUE Medicaid type people are going to live out on the streets? Maybe it's time to have less than 90 Million people out of the work force in America.

Same ole same ole. They had the GOP pushing granny off a cliff in 2012 yet the SINGLE MOST IMPORTANT issue then was free birth control. And the poster girl was a 30 year old Ivy League law student.

I'm moving to another state in a year or so and you better believe it's going to be one that isn't in the top ten of Heroin meccas.

And hopefully it will use COMMON SENSE about what “essential health benefit.” means.

Which should NEVER have included free birth control and ironically "breastfeeding support". Which brings to mind 1 in 70 babies are on the autism spectrum? Who's gonna pay for THEM ongoing? I had a client renting a 3000 per month luxury condo in Jax while their kid lived in a government funding inpatient facility.

I have no problem with Graham-Cassidy. This is a Republic and each state should have the autonomy the Constitution guarantees. That might also stop the massive movement of people from Liberal states to more Conservative states and let everyone live with the consequences of their decisions on taxes, property systems, restrictive government regulations, entitlements etc. Eventually you run out of other peoples' money. Moving to a red state because it's CHEAPER and WARMER isn't my idea of this bastion of Liberalism that loves income redistribution and is quite hypocritical.

Of course, it's difficult to keep up.

NOW we have states choosing to allow non-citizens and illegals to VOTE in our elections. Always working a scam to get political power.

Hey - that's in Maryland. Isn't that your home state? Might wanna reconsider that political choice.

Last edited by runswithscissors; 09-21-2017 at 05:37 AM..
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Old 09-21-2017, 05:33 AM
 
Location: Philadelphia/South Jersey area
2,871 posts, read 1,401,499 times
Reputation: 10071
OK new plan......

Grrrr....my lovely youngest son just got a 250 buck ticket for speeding, which means he was going 30 mph over the speed limit. which means he was flying. when I asked him about it, his classic answer. I DON'T KNOW HOW IT HAPPEN!!!

WTH!!

So you know how folks say they don't want to be a burden to their children?? well I've changed my mind. my new Long term care is I am absolutely going to be a burden to this kid. I don't care if I'm perfectly healthy at 90 this sucka is going to make up for all the aggravation from ages 19-22


ps. he's car-less for the next 2 weeks minimum.
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Old 09-21-2017, 05:38 AM
 
Location: Central IL
15,206 posts, read 8,513,923 times
Reputation: 35600
Quote:
Originally Posted by lenora View Post
I read the Graham-Cassidy bill. I don't think it will pass but it should serve as a wake up call to those who are relying on Medicaid to cover their future long term care expenses. I can't believe anyone here truly intends to spend down to qualify for a "benefit" that may not even exist in the future but just in case...you might want to reconsider.
Whether you plan for it or not, many people (who may think they are) will find out that the million they saved won't cover it, or surprise! their LTCi didn't cover all the services they thought it would, runs out, or wasn't enough to protect against inflation.
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Old 09-21-2017, 05:39 AM
 
10,604 posts, read 14,193,877 times
Reputation: 17200
^^^ Actually, his brain doesn't mature until he's 26!
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Old 09-21-2017, 05:40 AM
 
Location: Central IL
15,206 posts, read 8,513,923 times
Reputation: 35600
Quote:
Originally Posted by runswithscissors View Post
Weird that wealthy Millionaire people are perfectly happy with their fellow citizens paying for their Obamacare subsidies and you never see ANYONE complaining about it.

In fact, on this very forum they're all "YEAH! Work the system!".

Almost free health insurance for retired millionaires?

So you're suggesting NOW suddenly TRUE Medicaid type people are going to live out on the streets? Maybe it's time to have less than 90 Million people out of the work force in America.

Same ole same ole. They had the GOP pushing granny off a cliff in 2012 yet the SINGLE MOST IMPORTANT issue then was free birth control. And the poster girl was a 30 year old Ivy League law student.

I'm moving to another state in a year or so and you better believe it's going to be one that isn't in the top ten of Heroin meccas.

And hopefully it will use COMMON SENSE about what “essential health benefit.” means.

Which should NEVER have included free birth control and ironically "breastfeeding support". Which brings to mind 1 in 70 babies are on the autism spectrum? Who's gonna pay for THEM ongoing? I had a client renting a 3000 per month luxury condo in Jax while their kid lived in a government funding inpatient facility.

I have no problem with Graham-Cassidy. This is a Republic and each state should have the autonomy the Constitution guarantees. That might also stop the massive movement of people from Liberal states to more Conservative states and let everyone live with the consequences of their decisions on taxes, property systems, restrictive government regulations, entitlements etc. Eventually you run out of other peoples' money. Moving to a red state because it's CHEAPER and WARMER isn't my idea of this bastion of Liberalism that loves income redistribution and is quite hypocritical.

Of course, it's difficult to keep up.

NOW we have states choosing to allow non-citizens and illegals to VOTE in our elections. Always working a scam to get political power.

Hey - that's in Maryland. Isn't that your home state? Might wanna reconsider that political choice.
If you don't think paying for birth control is a good investment then you're crazy - cheap to pay for and saves tens of thousands for each kid not born. But, stick to your guns - I say, an ounce of prevention...
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