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Old 08-17-2019, 01:59 PM
 
72,795 posts, read 72,628,690 times
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Quote:
Originally Posted by TuborgP View Post
Yup, if you can afford to cover x number of years yourself they will take the risk in some cases. The one we affiliated with will kick you out. They will not accept Medicaid.
We have no Medicaid only homes in our area ....the private homes all have a certain number of Medicaid beds .....the really nice ones here will take Medicaid assignment as long as you have been paying for two years .

As far as if our insurer fails..... it is a ny state partnership plan ..the state would just transfer us to another insurer the same as it does with any insurer that fails
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Old Yesterday, 02:08 PM
 
Location: NY
4,125 posts, read 1,066,296 times
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Quote:
Originally Posted by mathjak107 View Post
we pay about 8k a year for the two of us and we get a 1600 dollar tax credit from the state for having it . plus that includes a 1k surcharge for me because i waited to take a plan until i had a blood test come back diabetic even though i am at prediabetic levels .


you need to be very healthy for these ..they came and did an exam , hiv and drug testing and a memory test


Understood. Thanks for the info.
I had same conducted years ago for disability insurance. ( No longer needed. Retired. Hooray).
If you have a another workup done down the road and the blood comes back O.K. I would resubmit
and try to have that surcharge removed.
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Old Yesterday, 02:13 PM
 
72,795 posts, read 72,628,690 times
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Quote:
Originally Posted by Mr.Retired View Post
Understood. Thanks for the info.
I had same conducted years ago for disability insurance. ( No longer needed. Retired. Hooray).
If you have a another workup done down the road and the blood comes back O.K. I would resubmit
and try to have that surcharge removed.
My blood work has been back to prediabetic levels for years but the trend in diabetes is always up as you age ..

Right now I am buying time through diet , running 4 miles every other day and weightlifting but as my doctor says , donít be surprised if the levels donít hold , they usually go up over time
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Old Yesterday, 02:19 PM
 
Location: NY
4,125 posts, read 1,066,296 times
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Quote:
Originally Posted by mathjak107 View Post
when it comes to all these statistics , bad stuff has to happen to someone ..it is either us or it isn't ... that is the only stat that matters .. in my dad's case it was him on the crappy side of the statistic , he was in 24/7 care for 6 years. it left his spouse ( not my mom ) in very poor financial shape . my sister and i contributed as much as we could but it was a losing battle the costs were so high for so long .
Hope she ended up OK.......
You are Absolutely Correct.
The best I have ever seen any elder lawyer recoup was 1/2 of entire assets after the State got involved.

An old Jewish tenant told me over 40 years ago.
America is the greatest country to make money but the worst to get sick in.

Insurance....Insurance.....Insurance........always buy Insurance.......!

True Words of Wisdom................R.I.P. Mr. L........

Last edited by Mr.Retired; Yesterday at 02:32 PM..
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Old Yesterday, 02:27 PM
 
Location: NY
4,125 posts, read 1,066,296 times
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Quote:
Originally Posted by mathjak107 View Post
My blood work has been back to prediabetic levels for years but the trend in diabetes is always up as you age ..

Right now I am buying time through diet , running 4 miles every other day and weightlifting but as my doctor says , don’t be surprised if the levels don’t hold , they usually go up over time


Nice job. You are quite ahead of the game. Dietary restrictions/ portion control, I prefer walking, lots of fluids,
natural botanics and controlling stress ( the biggie ) and getting enough sleep keep that liver and kidney in the best possible shape.
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Old Yesterday, 07:55 PM
 
Location: Tennessee
24,068 posts, read 17,905,479 times
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Quote:
Originally Posted by athena53 View Post
First- I believe there's a limit to the retirement stream for the at-home spouse- $2000-$3,000/month in most states.

Second- while my situation fits your description perfectly- college education, worked FT my entire adult life, have my own investments, SS and a couple of small pensions and am doing just fine financially as a widow- I believe I'm in the minority. Many women do take a few years out of the workforce to raise kids and many choose teaching, which doesn't pay what it used to, so their schedules coincide with the kids'. And, in general, I believe that women still tend to go into lower-paying fields. My female HS classmates largely went into teaching, social work and other "helping" professions. Noble work but not lucrative.

My own DS and DDIL have a marriage in which she's a stay-at-home Mom. She's darn good at it and it's hard work with a 5-year old, a 2-year old and a newborn. It's much more common out here in flyover country where you can support a family on one income. Even in the affluent NNJ town where I lived till 2003, I was the only mother I knew of in my son's class who had a demanding FT job. Most were stay-at-homes or worked PT at places like Williams-Sonoma to get the employee discount.

At any rate- I'm unlikely to marry again unless the guy can fund his own LTC- otherwise I'm on the hook for all of it.
Many, many people out there are having a tough go of it. Given how affluent this board skews, I think that often gets overlooked.

I work and live (moving in September) in a city with a median household income in the mid $30k range. Some of that is partly explained by the area having a lot of seniors who don't work or have much monthly income, but may have other resources to draw on in times of need. Still, this is a poor area.

I'm in the top 20%-25% in terms of household income and in the top 10% of single income earners here. It doesn't feel like I'm doing that well, though. I have a 2015 Jeep I bought I used. I have a nice apartment, and I'm buying a condo $300/month cheaper than my rent, and hoping to close middle of next month. I did a weeklong vacation in Maine in June and a weekend away since. I'm into craft beer, hiking, and some other outdoor stuff, and spend my discretionary money mostly there. I have a bit of extra, but not a ton, and don't have particularly expensive hobbies.

I don't see how people with a much lower income do it, plus save out of that smaller income for retirement, plus kids, etc. I guess they just sit at home a lot?
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Old Today, 05:15 AM
 
Location: R.I.
1,037 posts, read 630,482 times
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Quote:
Originally Posted by athena53 View Post
Second- while my situation fits your description perfectly- college education, worked FT my entire adult life, have my own investments, SS and a couple of small pensions and am doing just fine financially as a widow- I believe I'm in the minority.


And, in general, I believe that women still tend to go into lower-paying fields. My female HS classmates largely went into teaching, social work and other "helping" professions. Noble work but not lucrative.

Not sure what type of degree you have, what type of job you worked it, and what type of salary you consider lucrative but as someone also a widow since 2001 with a nursing degree that has worked in what you characterize as a noble but not lucrative "helping" profession for the last 42 years, I have for a number of years now earned a decent 6 figure income. Being fully aware that I don't earn the level of income of many other professions, but despite that I think you are characterizing "helping" professions as non lucrative with a pretty broad brush stroke. You might want to do a little salary research on not only executive nurses, but be sure to include pharmacists, nurse practitioners, and social workers in private counseling practices and I think what you will discover may surprise you.

And like you a number of my HS classmates went on to get teaching degrees and following many got jobs in the school department in our town and most worked FT in these jobs while raising their children. All of these teachers as they were approaching their 30 years were earning decent six figure incomes and retired at around age 52 with pensions that delivered them 85% of their ending salaries which would put them in the pension range of $85K. Additionally they got a nice retirement health insurance package, and since they paid into SS although their benefit will have a WEP reduction when they claim it which most do at 62 at that point will have a six figure retirement income along with any income they made from their own investments. IMO being able to retire at age 52 with an $85K pension, fully paid health insurance, and a Social Security check coming down the pike to top that pension off is not too shabby.

When this non managerial non executive regular staff R.N. retires at her FRA of 66 in a few years, although I had to work longer than my former classmates that were teachers, my 3 legged stool retirement income will be in the ballpark of theirs when theirs is topped off with Social Security. So I am shedding no tears having spend my working career in a as you characterize as noble but a non lucrative "helping" profession.
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Old Today, 07:02 AM
 
2,374 posts, read 830,217 times
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Quote:
Originally Posted by Nightengale212 View Post
When this non managerial non executive regular staff R.N. retires at her FRA of 66 in a few years, although I had to work longer than my former classmates that were teachers, my 3 legged stool retirement income will be in the ballpark of theirs when theirs is topped off with Social Security. So I am shedding no tears having spend my working career in a as you characterize as noble but a non lucrative "helping" profession.
I'm glad you managed to work as a nurse your entire adult life. Most nurses that I know burned out early and some have permanent back injuries from moving too-heavy patients for too many years. I know that demand for nurses is very high right now.
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Old Today, 07:09 AM
 
14,287 posts, read 7,630,536 times
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Quote:
Originally Posted by Nightengale212 View Post
Not sure what type of degree you have, what type of job you worked it, and what type of salary you consider lucrative but as someone also a widow since 2001 with a nursing degree that has worked in what you characterize as a noble but not lucrative "helping" profession for the last 42 years, I have for a number of years now earned a decent 6 figure income. Being fully aware that I don't earn the level of income of many other professions, but despite that I think you are characterizing "helping" professions as non lucrative with a pretty broad brush stroke. You might want to do a little salary research on not only executive nurses, but be sure to include pharmacists, nurse practitioners, and social workers in private counseling practices and I think what you will discover may surprise you.

And like you a number of my HS classmates went on to get teaching degrees and following many got jobs in the school department in our town and most worked FT in these jobs while raising their children. All of these teachers as they were approaching their 30 years were earning decent six figure incomes and retired at around age 52 with pensions that delivered them 85% of their ending salaries which would put them in the pension range of $85K. Additionally they got a nice retirement health insurance package, and since they paid into SS although their benefit will have a WEP reduction when they claim it which most do at 62 at that point will have a six figure retirement income along with any income they made from their own investments. IMO being able to retire at age 52 with an $85K pension, fully paid health insurance, and a Social Security check coming down the pike to top that pension off is not too shabby.

When this non managerial non executive regular staff R.N. retires at her FRA of 66 in a few years, although I had to work longer than my former classmates that were teachers, my 3 legged stool retirement income will be in the ballpark of theirs when theirs is topped off with Social Security. So I am shedding no tears having spend my working career in a as you characterize as noble but a non lucrative "helping" profession.

In my zip code, the older public school teachers vest 2% per year in a pension and generous retiree health benefits. A trivial summer school and part time education Masters at the local state school + 20 years pays about $75K for 180 teaching days. The pension income is tax-free in Massachusetts. It's a Social Security opt-out state so they don't see a Social Security check. It's more like $50K to $55K than $85K after 35 years in the trenches. You don't see that at age 52. An elementary school principal makes a bit more than $100k. High School department chairs make similar. Sports coaches get a boost. There are a number of town cops with that high retirement benefit deal but K-12 teachers largely don't see it.


The people in my life who started with a BSN from a strong school are all making way north of $100k. A couple of nurse practitioners, a nurse anesthetist, my girlfriend is a regional director on the finance side for a bunch of hospitals. Nobody has been near a bed pan since their early 20s. The only one I can think of who stayed in the trenches was a pediatric ICU nurse at Boston Childrens making into 6-figures.
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Old Today, 07:33 AM
 
Location: Tennessee
24,068 posts, read 17,905,479 times
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Quote:
Originally Posted by GeoffD View Post
In my zip code, the older public school teachers vest 2% per year in a pension and generous retiree health benefits. A trivial summer school and part time education Masters at the local state school + 20 years pays about $75K for 180 teaching days. The pension income is tax-free in Massachusetts. It's a Social Security opt-out state so they don't see a Social Security check. It's more like $50K to $55K than $85K after 35 years in the trenches. You don't see that at age 52. An elementary school principal makes a bit more than $100k. High School department chairs make similar. Sports coaches get a boost. There are a number of town cops with that high retirement benefit deal but K-12 teachers largely don't see it.

The people in my life who started with a BSN from a strong school are all making way north of $100k. A couple of nurse practitioners, a nurse anesthetist, my girlfriend is a regional director on the finance side for a bunch of hospitals. Nobody has been near a bed pan since their early 20s. The only one I can think of who stayed in the trenches was a pediatric ICU nurse at Boston Childrens making into 6-figures.
Locally, the city schools start out at about $40,000 annually. The county schools pay a good bit less. With five years experience and an M.Ed from the nearby regional state school, that city teacher will be at $50,000. Teachers here tend to be the local natives that don't leave. Combined, two teachers will be in the top 5%-7% of HHI, and that's before you add in the value of their pensions and other government benefits.

A teacher with five years experience will likely outearn an RN with five years experience here. "Standard" med-surg RNs make $19/hr before shift differentials or alternate pay codes come into account. FNPs do not earn $100,000 here - not close, and the FNP will require more education than a typical K-12 teacher. A CRNA might, but even that might be a tall order, and most large hospital systems not affiliated with a university teaching hospital don't have the level of benefits that local and state governments do.
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