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Old 03-09-2018, 04:36 PM
 
Location: Columbia SC
14,209 posts, read 14,614,572 times
Reputation: 22040

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Be sure to read it but what struck me was that the duration of paid care:

67% need less then 2 years. 21% need 2 to 5 years. Only 13% need more then 5 years. Rounded numbers.

One in 4 (over 65) will face over $50K out of pocket expenditure. This says 3 in 4 will face less.

Sounds like good reasons not to purchase such especially for us older, single people.
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Old 03-09-2018, 04:56 PM
 
106,092 posts, read 108,054,666 times
Reputation: 79659
Except those statistics are not only a generation old since boomers are not at that stage yet but it fails to track loads like my dad who could not get Medicaid but could not afford a Snf . So he was cared for by health professionals in their home .


Loads of people do this and were not counted in the stats . Ltc also covers in home care and assisted living . Estimates are 77% of us will need some form of long term care .

Last edited by mathjak107; 03-09-2018 at 06:03 PM..
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Old 03-09-2018, 06:29 PM
 
1,322 posts, read 1,679,933 times
Reputation: 4589
Quote:
Originally Posted by johngolf View Post
Be sure to read it but what struck me was that the duration of paid care:

67% need less then 2 years. 21% need 2 to 5 years. Only 13% need more then 5 years. Rounded numbers.

One in 4 (over 65) will face over $50K out of pocket expenditure. This says 3 in 4 will face less.

Sounds like good reasons not to purchase such especially for us older, single people.
If I told you that 1 in 4 air planes crash killing everyone on board, but 3 out of 4 don't crash.... would you get on a plane?
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Old 03-09-2018, 06:36 PM
 
Location: Columbia SC
14,209 posts, read 14,614,572 times
Reputation: 22040
Quote:
Originally Posted by LookingatFL View Post
If I told you that 1 in 4 air planes crash killing everyone on board, but 3 out of 4 don't crash.... would you get on a plane?
Poor analogy. My life is worth more than my money.
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Old 03-09-2018, 06:38 PM
 
Location: Columbia SC
14,209 posts, read 14,614,572 times
Reputation: 22040
Quote:
Originally Posted by mathjak107 View Post
Except those statistics are not only a generation old since boomers are not at that stage yet but it fails to track loads like my dad who could not get Medicaid but could not afford a Snf . So he was cared for by health professionals in their home .


Loads of people do this and were not counted in the stats . Ltc also covers in home care and assisted living . Estimates are 77% of us will need some form of long term care .
You sound like a seller of such or one defending their purchase of such.
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Old 03-09-2018, 07:20 PM
 
13,395 posts, read 13,440,347 times
Reputation: 35711
Can we move beyond this topic? The bottom line is those that want and can afford LTCi will get it. Those that don't want it, won't get it. It's that simple. No need to take sides or go back & forth. No need to justify anything.

Make a personal choice and move on.
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Old 03-09-2018, 08:27 PM
 
11,158 posts, read 15,946,998 times
Reputation: 29837
Quote:
Originally Posted by charlygal View Post
Can we move beyond this topic?
You can move beyond this topic by simply not clicking on the thread topic and reading the posts contained therein.
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Old 03-10-2018, 02:35 AM
 
Location: Orange County/Las Vegas
2,521 posts, read 2,720,708 times
Reputation: 2514
Don't really understand this thread?
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Old 03-10-2018, 02:59 AM
 
106,092 posts, read 108,054,666 times
Reputation: 79659
Quote:
Originally Posted by johngolf View Post
You sound like a seller of such or one defending their purchase of such.
i had my father crippled by a stroke and saw the financial devastation it did . i guess he didn't get the memo how low the odds were ..
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Old 03-10-2018, 03:51 AM
 
31,672 posts, read 40,942,564 times
Reputation: 14419
Quote:
Originally Posted by jet757f View Post
Don't really understand this thread?
It is a continuation of a very important topic for SOME, that is the role, value and cost of LTCi. Some already have purchased, others have decided not to. However their is a third group who this can be valuable that is those who are evaluating and deciding if it is right for them. The OP has made an argument that suggests it may not be as needed and others are countering with the opinion it is.

I have become sorta neutral on the topic after years of having been involved in discussions. I believe it is important and valuable. However we were fortunate to have gotten years ago and have coverage and pricing not currently available to folks. Makes it easy for me to be a fan of.
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