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Old 02-12-2010, 04:53 PM
 
Location: Near a river
16,042 posts, read 18,971,705 times
Reputation: 15649

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Related to the above posts.

It is not only the shoestringers who suffer in old age from loneliness and disconnectedness, I just came from visiting an extremely well to do couple. She's 90 and he's 88. Ironically she's in better shape than me in some ways as I have serious problems in mobility. Anyway, I enter this incredibly plush and beautifully decorated senior rental "estate" and see this old gent sitting in front of the TV on a lovely sunny day and she showing in everything she said how lonely it is (she never said it directly). This woman has been literally into everything, realtor, developer, you name it she's done it and they both became well off. She said she isn't interested in the activites they do at this place and is trying to keep up her own private interests.Then she said shehopes and prays they don't live another 5 or 10 yrs b/c they will run out of money. My main point is regardless of money, alone is alone is alone. What a ridiculous state of affairs if even some of the well off are aging this way. I felt badly for them as I left. It's not so bad for me now as I ahve friends. But I watched as my mother got into her 70s 80s and 90s how friends left or passed away and she who once had others around her became extremely isolated and lonely and depressed. Is this what we boomers are going to accept?
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Old 02-12-2010, 05:01 PM
 
Location: Venice, Fl
1,497 posts, read 3,099,803 times
Reputation: 1389
Quote:
Originally Posted by SCBaker View Post
I gave advise to no one. I simply told my story and I stand by it. Medicaid is administered by the states. My mother was in the Medicaid LTC system in the state of Arizona. I also had to apply for benefits for my dad, but he passed away before he was approved.

I do not appreciate you attacking my credibility and character. I did not lie or commit a crime. I have no intention of getting into conversations with you about who is right and who is wrong. As I stated, I simply told my story.

Perhaps it would be better for your health if you did not bother to read my posts and find reasons to attack me. End of conversation. Have a nice day.
I am licensed insurance agent, reading some of this really pinches a nerve for me. I am not quoting this post to insult, flame, attack character or anything of the kind.

I work with clients everyday regarding LTC needs, home care, facilty based care etc. I am familiar with my states Medicaid program, they all differ but work on the same pricipal. Some states have varying requirements for qualification.

For the quoted post, you did commit a crime, you backdated financial/legal documents to secure assets away from the state before applying for a state wellfare program. Those very assets are aquired by the states after an individual on Medicaid passes away. It is in your states "asset recovery" program.

A few people mentioned that they have LTC coverage and are considering cancelling it ? That could be the worst financial choice you will make entering your golden years. If you can afford LTC coverage, you have assets to protect, plain and simple.

For any of you that dont recognize LTC being the biggest financial hurdle of your generation, realize that 65% of you will need some form of LTC before you die. There are 2 ways to deal with matter, #1 get LTC insurance. Educate yourself about your states LTC partnership program to see how the program could benefit your retirement plan. #2 do nothing and risk losing your life savings and destroying all that you had hoped to leave in your legacy.

Shifting assets around to children wont save your nestegg. Many states are ruling that children are responsible to pay for the LTC costs of their parents. These cases will set a precident for the future. There is speculation that state Medicaid programs will be extending the "look back period" for financials and the like.

States are bankrupt, Medicaid programs are the cause. How will they assume the financial burden of all of the boomers retiring ? Simple answer, they cant, and wont. Asset recovery in each state will become more aggressive as states panic to recover every bit they can.

If you are in the market for LTC coverage, make sure it is qualified for your states partnership program, if it is not, dont purchase it. State LTC partnership programs are an attempt to offset the cost of LTC for you and for the state.

I really feel for your generation, you will experience a retirement like no others before you. I will say that a large percentage of you will not be financially prepared and with longer life spans I only hope we all can maintain quality of life and dignity.

If any of you have questions and feel I can help you, dont hesitate to shout. Educating yourselfs with your rights and entitlements is a powerful tool. If nothing else I can certainly direct you to the proper State program for more detailed information.

Best of luck to you all, see some of you on the golf course
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Old 02-12-2010, 07:30 PM
 
Location: Arizona
419 posts, read 657,879 times
Reputation: 862
Quote:
Originally Posted by Old Man Winter View Post
I am licensed insurance agent, reading some of this really pinches a nerve for me. I am not quoting this post to insult, flame, attack character or anything of the kind.

I work with clients everyday regarding LTC needs, home care, facilty based care etc. I am familiar with my states Medicaid program, they all differ but work on the same pricipal. Some states have varying requirements for qualification.

For the quoted post, you did commit a crime, you backdated financial/legal documents to secure assets away from the state before applying for a state wellfare program. Those very assets are aquired by the states after an individual on Medicaid passes away. It is in your states "asset recovery" program.

A few people mentioned that they have LTC coverage and are considering cancelling it ? That could be the worst financial choice you will make entering your golden years. If you can afford LTC coverage, you have assets to protect, plain and simple.

For any of you that dont recognize LTC being the biggest financial hurdle of your generation, realize that 65% of you will need some form of LTC before you die. There are 2 ways to deal with matter, #1 get LTC insurance. Educate yourself about your states LTC partnership program to see how the program could benefit your retirement plan. #2 do nothing and risk losing your life savings and destroying all that you had hoped to leave in your legacy.

Shifting assets around to children wont save your nestegg. Many states are ruling that children are responsible to pay for the LTC costs of their parents. These cases will set a precident for the future. There is speculation that state Medicaid programs will be extending the "look back period" for financials and the like.

States are bankrupt, Medicaid programs are the cause. How will they assume the financial burden of all of the boomers retiring ? Simple answer, they cant, and wont. Asset recovery in each state will become more aggressive as states panic to recover every bit they can.

If you are in the market for LTC coverage, make sure it is qualified for your states partnership program, if it is not, dont purchase it. State LTC partnership programs are an attempt to offset the cost of LTC for you and for the state.

I really feel for your generation, you will experience a retirement like no others before you. I will say that a large percentage of you will not be financially prepared and with longer life spans I only hope we all can maintain quality of life and dignity.

If any of you have questions and feel I can help you, dont hesitate to shout. Educating yourselfs with your rights and entitlements is a powerful tool. If nothing else I can certainly direct you to the proper State program for more detailed information.

Best of luck to you all, see some of you on the golf course
The small proceeds from the sale of the MH went to my dad's care. He was able to pay a partime caregiver to come in at $10.00 an hour for over a year. He wanted to be at home. At that time, medicre caregivers were paid $6.50 an hour and very undependable. I took care of him in the evenings and weekends Plus, the proceeds paid for 2 months of group home care at $1,800.00 a month before his medicaid benefits ever kicked in.

At the time of his death, there was only about $50.00 left from the proceeds of the MH sale. The state lost nothing. My dad was 94 when he passed away and had been in declining health for about 3 years and would have qualified for group home benefits because there was no one available to pick up the slack when a caregiver was not available. Lets see, a group home environment at $1,800. a month for 3 years. You do the math. The medicaid system in my state saved a ton.

Until you have personally placed a loved one in the medicare system, you have no idea how much you have to fight for decent care. At least that was the case in Maricopa County, Arizona. It is heartbreaking at best.

I did what I had to do, and I have no regrets.

You are hawking your LTC products. Most of us on this forum can not afford the premiums for LTC insurance. While you are on the golf course, most of us are worrying about how to pay the electricity bill.
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Old 02-12-2010, 07:54 PM
 
Location: San Diego CA
1,029 posts, read 2,069,419 times
Reputation: 608
Quote:
Originally Posted by SCBaker View Post
The small proceeds from the sale of the MH went to my dad's care. He was able to pay a partime caregiver to come in at $10.00 an hour for over a year. He wanted to be at home. At that time, medicre caregivers were paid $6.50 an hour and very undependable. I took care of him in the evenings and weekends Plus, the proceeds paid for 2 months of group home care at $1,800.00 a month before his medicaid benefits ever kicked in.

At the time of his death, there was only about $50.00 left from the proceeds of the MH sale. The state lost nothing. My dad was 94 when he passed away and had been in declining health for about 3 years and would have qualified for group home benefits because there was no one available to pick up the slack when a caregiver was not available. Lets see, a group home environment at $1,800. a month for 3 years. You do the math. The medicaid system in my state saved a ton.

Until you have personally placed a loved one in the medicare system, you have no idea how much you have to fight for decent care. At least that was the case in Maricopa County, Arizona. It is heartbreaking at best.

I did what I had to do, and I have no regrets.

You are hawking your LTC products. Most of us on this forum can not afford the premiums for LTC insurance. While you are on the golf course, most of us are worrying about how to pay the electricity bill.
I too, am now in a similar situation with my Mother. She was diagnosed exactly 2 years ago with Alzheimer's Disease at the young age of 65. I assisted her in retiring (due to memory loss) and I have been her DPOA, Advocate and Caregiver up until last month. She was declining and I was so afraid she would fall (again). I placed her in a Private Residential Care Home on her 67th birthday.
It breaks my heart, but she has no idea who I am less what day month year or season it is.
Now my dilemma is her loss of rental income has caused me to have move her to a smaller Residential Care Home next month.
At least I found one quickly.
One of her rentals is for sale now. I am trying to keep her out of the Medi-cal System, simply because I think it is more work to find good care and these Residential Care Homes, which are licensed facilities, seem to have a better patient to staff ratio.

As far as my future plans, I am unsure if LTC is the way to go or not. I believe it is not really much of a quality of life to be placed in a recliner in front of a tv every day all day to only be able to recognize the baby doll in your arms, unable to talk, except for Word Salad, and unable to walk, or do anything without assistance.
Seems like I would want to drop out of that life.
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Old 02-12-2010, 08:08 PM
 
Location: zippidy doo dah
895 posts, read 1,330,863 times
Reputation: 1928
Quote:
Originally Posted by Old Man Winter View Post
I am licensed insurance agent, reading some of this really pinches a nerve for me. I am not quoting this post to insult, flame, attack character or anything of the kind.


For any of you that dont recognize LTC being the biggest financial hurdle of your generation, realize that 65% of you will need some form of LTC before you die. . #2 do nothing and risk losing your life savings and destroying all that you had hoped to leave in your legacy.

quick note on this on doing nothing and destroying all that one hopes to leave in one's legacy - perhaps this is one of those assumptions that the boomers will challenge.....

some did not have children and thus the financial legacy issue is negated

HOWEVER as one of those that did have little ankle biters, I don't consider the legacy I will leave my children to be financial. I hope what I leave to my kids and my grandkids are the good memories of their mom/their baboo and their lives in general; the lessons learned from both the good and the bad times; the attitudes, the values, the ability to laugh, to cry, have compassion, go the extra mile, achieve contentment regardless of circumstances, etc. That is my legacy - I wasn't put on earth to provide a silver spoon for my kids upon my death - what i leave will be of far more value than money. Good thing they know I likely won't have much so if they're nice to me, it's cuz they love me.

I'm not going to debate the LTC issue but if one of the arguments is maintaining the inheritance for the kids, you just lost me and I'm sure a good many others.

Shifting assets around to children wont save your nestegg. Many states are ruling that children are responsible to pay for the LTC costs of their parents. These cases will set a precident for the future. There is speculation that state Medicaid programs will be extending the "look back period" for financials and the like.

i've heard some discussion concerning children being responsible for the LTC costs of their parents. I'm somewhat skeptical as to how anything of this sort could be upheld in a court. How is it possible to hold an adult responsible for the debts etc of another adult? I have four adult children/I'm not responsible by the state or the feds for any of their financial affairs/how in the world could they be held responsible for mine? If such legislation is actually passed, I have no doubt it will be successfully challenged in the court system and will not be upheld. Even the "look back" period would likely have to be grandfathered or everyone who ever gives a gift to anyone would be financially at risk.

States are bankrupt, Medicaid programs are the cause. How will they assume the financial burden of all of the boomers retiring ? Simple answer, they cant, and wont. Asset recovery in each state will become more aggressive as states panic to recover every bit they can.

If you are in the market for LTC coverage, make sure it is qualified for your states partnership program, if it is not, dont purchase it. State LTC partnership programs are an attempt to offset the cost of LTC for you and for the state.

I really feel for your generation, you will experience a retirement like no others before you. I will say that a large percentage of you will not be financially prepared and with longer life spans I only hope we all can maintain quality of life and dignity.

If any of you have questions and feel I can help you, dont hesitate to shout. Educating yourselfs with your rights and entitlements is a powerful tool. If nothing else I can certainly direct you to the proper State program for more detailed information.

Best of luck to you all, see some of you on the golf course
So I know you said you are not trying to offend, however, you already said you feel for this generation so I can only assume you are either older and somehow blessed with the retirement system that was a bit kinder to its people or more likely, younger. While I appreciate you "feeling" for us, the sign off, "see some of you on the golf course" comes across a bit flippant and elitist. And a bit dated- it's been known for a number of years that golf course communities will draw less and less of the coming retirement community because it is not as much a "must-have" of the boomers as it was of the traditional generation. And in a group that is most concerned about quality of life and the incredible costs of aging, probably "see you on the cruise ship, the ski slope, the shores of bora bora" will lose more prospects than gain.
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Old 02-12-2010, 08:10 PM
 
Location: Edina, MN, USA
6,954 posts, read 7,390,876 times
Reputation: 16283
Quote:
Originally Posted by SCBaker View Post
The small proceeds from the sale of the MH went to my dad's care. He was able to pay a partime caregiver to come in at $10.00 an hour for over a year. He wanted to be at home. At that time, medicre caregivers were paid $6.50 an hour and very undependable. I took care of him in the evenings and weekends Plus, the proceeds paid for 2 months of group home care at $1,800.00 a month before his medicaid benefits ever kicked in.

At the time of his death, there was only about $50.00 left from the proceeds of the MH sale. The state lost nothing. My dad was 94 when he passed away and had been in declining health for about 3 years and would have qualified for group home benefits because there was no one available to pick up the slack when a caregiver was not available. Lets see, a group home environment at $1,800. a month for 3 years. You do the math. The medicaid system in my state saved a ton.

Until you have personally placed a loved one in the medicare system, you have no idea how much you have to fight for decent care. At least that was the case in Maricopa County, Arizona. It is heartbreaking at best.

I did what I had to do, and I have no regrets.

You are hawking your LTC products. Most of us on this forum can not afford the premiums for LTC insurance. While you are on the golf course, most of us are worrying about how to pay the electricity bill.
I commend you on all your efforts! Ignore this other negativity - like they say - until they walk in your shoes~~~~
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Old 02-12-2010, 08:27 PM
 
Location: zippidy doo dah
895 posts, read 1,330,863 times
Reputation: 1928
Default Brainstorm in process!

Quote:
Originally Posted by Wisteria View Post
Now, I am not looking at wealthy people in this, because they have the means to have more choices (unless, of course, they want to fund this endeavor!). But I'm talking about the average person living alone (especially) with limited funds. Someone who could sell a home, definitely has more assets. I have a mortgage yet, and very little invested in the home. I would not be able to ever buy a place outright, or buy into one of those cooperative communities. For me, I would most likely have to rent with others -- but in a big house, it could work. And we definitely want someone with a good sense of humor to cheer us all up!

I noticed that much of what has been said about intentional living is based on purchasing a place -- for myself, I would not have much to contribute monetarily. But there are places already established for those who have a paid-off house who could sell and buy into such places. For people who have limited resources, very limited, I think that renting is ideal -- no maintenance, no labor, no property taxes, yet, one could live with people in a situation where you could help each other, and still have companions to do things with.


When we were very young, many of us had to have roommates -- but we were young and often foolish, and did not have these issues. Now it's different. Perhaps living in a group might be easier now that we understand it's about survival and a happier lifestyle.

I'm just kind of thinking off the top of my head on this, but as I see myself alone at an even older age, I am thinking that maybe one, two or even three nice and cooperative companions might be the way to go. It's just a thought right now. I'm still thinking about it all....
ABSOLUTELY, Wisteria! That has been my observation as well - the intentional living models all seem to push purchasing, plus in many cases, starting from scratch. which is lengthy, expensive and because it is geared to buying, tends to interpret "affordable" to be way higher than most in rentals or without a great nest egg/pension out in the cold. The argument is you have to design your place however that doesn't ensure 100% satisfaction anyway. Anyone who has ever designed their own home knows that even if you micro-managed every aspect, you will not get it perfect.

But the rental aspect - several ways to come at that:-
1. A group of people pitching in together on a single place and working out rental/living arrangements in the house;
2. A person who owns a house and wishes to reduce costs by bringing others into the quotient not so much as tenants but as housemates who contribute to the costs.
3. And this is the one that might be a super neat way to experiment - several people could initially rent units within a rental develpment - voila - you have your individual place and you already have your common house that was paid for by the developer of the complex, not you and a small group and the costs of maintaining it are borne by the entire develpment through rents /i.e. the complex club house where you can develop group meals when you wish/group activities/etc. - you have your support group and you have various levels of sizes of units. Some people could live together from the get go in a larger unit while others might elect a smaller unit from the start. Some might find over time that circumstances dictate they need to reduce costs and thus single dwellers could convert to roommates. the whole concept could take place not in just one part of the country because rental complexes exist all over the United States. As we develop the idea in various parts of the country, we open up the opportunity for our other pioneers to visit our individual "group situations" and experience different places, travel, explore new living arrangements etc. this is just something that I started thinking about more and more of late and while it's very much in the thinking stage, i believe it has merit. It does not involve great outlays of money and it allows for flexibility to find what works and what doesn't.
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Old 02-12-2010, 08:37 PM
 
5,090 posts, read 13,544,940 times
Reputation: 6928
Quote:
Originally Posted by MN2CO View Post
I commend you on all your efforts! Ignore this other negativity - like they say - until they walk in your shoes~~~~
There was no negativity in my post; I was just putting out the correct information of what Hospice, actually means and provided the links to explain it fully.

In addition, I wanted people to realize that the asset determinations for Medicaid eligibility was wrongly stated, so that people would not think that they were not qualified when they in fact were, and then would apply for the benefits. In fact, I did check the Arizona Agency responsible and it is similar to Colorado as I said.

As far as transferring assets and changing dates--I do not care, as I said that is the posters responsibility. I said I would not advise a crime, myself. One can say anything they want.

However to state, that one did, with I assume a clear name on a public forum with more than enough information to find the person, is foolish. The defense of the action is not for me to judge and I do not.

My concern is only for correct information so not to lead anybody to the wrong decisions.

Livecontent
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Old 02-12-2010, 08:55 PM
 
Location: Edina, MN, USA
6,954 posts, read 7,390,876 times
Reputation: 16283
Quote:
Originally Posted by livecontent View Post
However to state, that one did, with I assume a clear name on a public forum with more than enough information to find the person, is foolish. The defense of the action is not for me to judge and I do not.

My concern is only for correct information so not to lead anybody to the wrong decisions.

Livecontent
Then this is the part that should have been in a DM.
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Old 02-12-2010, 09:13 PM
 
5,090 posts, read 13,544,940 times
Reputation: 6928
Quote:
Originally Posted by MN2CO View Post
Then this is the part that should have been in a DM.
I am not quite sure that would protect the information. We make some big assumptions about these public forums. We assume that they are what they appear. We also assume, wrongly, that certain communications are sacrosanct and inviolable. If it exist, in any form, it can be seen, read or heard.

Livecontent
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