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Do some research on the type of facility and the corresponding type of care you're going to get for that amount, let alone you're going to be in a semi-private room. What a potentially awful way to live out your last years. Of course, they're going to publish figures like this; they need to sell more LTC insurance to support all those they're already paying out to.
Assisted Living Facility $145 (Private one bedroom)
Nursing Home (Semi-Private) $202
Semi-Private (Private) $210
I would encourage you to make some visits to some of the places you would wouldn't mind living. My guess is the cost is going to be substantially more for the nicer places. I had no idea about the cost of the nicer places until I started investigating these for my mom several years ago. Sure, you may can get something cheaper, but is that really how you want to live your last years (if you have another choice)?
If you have the money, self-insurance is the best way to go (e.g., Ronald Reagan). Second would be a well-established, well-funded CCRC, and third LTC insurance, or some combination.
If you have the money, self-insurance is the best way to go (e.g., Ronald Reagan). Second would be a well-established, well-funded CCRC, and third LTC insurance, or some combination.
We are can use any one of the three, gotta figure over kill is better than falling short. The CCRC is the best route and cuts the cost of SNF if you go that far. We have affiliated with a monthly fee very nice upscale CCRC and had before that visited others. We are invited to two of their big functions each year. Very happy residents and the staff is great.
We are can use any one of the three, gotta figure over kill is better than falling short. The CCRC is the best route and cuts the cost of SNF if you go that far. We have affiliated with a monthly fee very nice upscale CCRC and had before that visited others. We are invited to two of their big functions each year. Very happy residents and the staff is great.
Yes, I agree a combination is the best. We are visiting a very nice, well-established CCRC next week and plan to put a deposit down. They have a 5 year wait list.
I would encourage you to make some visits to some of the places you would wouldn't mind living. My guess is the cost is going to be substantially more for the nicer places. I had no idea about the cost of the nicer places until I started investigating these for my mom several years ago. Sure, you may can get something cheaper, but is that really how you want to live your last years (if you have another choice)?
I agree with you! It really does make a difference to visit places in person. When I was in my twenties I worked as a CNA rotating to different Nursing Homes. Vastly different in management style and culture. I also worked as an Activity Director and really enjoyed that job. Loved being around the seniors. I think the hardest part was the heavy lifting and I shared that with another CNA so we could save our backs!
I just realized going through the LTC folder I had a policy upgrade in 2012. Whoops! Time to upgrade those numbers!
Lifetime Maximum Benefit: $438,000
Facility Care Benefit: $240 a day
Home Based Care: $1,260.00 a week
Guaranteed Benefit Increase: 5%
Quarterly Premium: $393.55
World Wide Coverage: $180 a day
The World Wide Coverage reminded me of the videos I was watching about American ex-pats and Medical Care in Mexico. There are so many different medical choices and price points they want to save money.
Yes, I agree a combination is the best. We are visiting an upscale, well-established CCRC next week and plan to put a deposit down. They have a 5 year wait list.
Best, yes, to get on that list. A good friend signed up for a well-established CCRC last year thinking she would not want to move to a CCRC for years. Then she fell on the ice and broke her hip, which unfortunately did not properly heal requiring that she use a walker. One day she was traveling overseas three times a year; the next while not housebound certainly slowed down.
Her home has steps up to the porch; the washer/dryer are in the basement down a steep flight of stairs. She lives alone.
The waitlist for the style of unit she wants at the CCRC (a large one) is at 10 years! I asked if she'd consider moving into a smaller unit then trading up or even renting someplace in the interim but she says that does not want to move twice.
In the interim, I'm terrified that she's going to fall down one of those flights of stairs.
Yes, I agree a combination is the best. We are visiting a very nice, well-established CCRC next week and plan to put a deposit down. They have a 5 year wait list.
That's the problem the timing and availability when you need it. We are looking ten years down the road to actually seriously considering entering so we will probably end up elsewhere probably with new construction.
That's the problem the timing and availability when you need it. We are looking ten years down the road to actually seriously considering entering so we will probably end up elsewhere probably with new construction.
We are about 16-18 years out, so hopefully we should get in, but we may well put ourselves on several waitlists, just in case.
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