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There's a big difference between some of the living options that were mentioned. For instance, the people who need a "SNF" are very different from those in assisted living. Assisted living is for those who are basically in good health and self sufficient EXCEPT they cannot drive or maintain a property anymore.
If that's all they need, why not just move into an apartment where landlord/property management takes care of all maintenance and repairs, hire a weekly housekeeping service to keep the interior clean and do your laundry, eat easy to prepare frozen meals you just pop in a microwave or get Meals on Wheels and other delivered meals (Pizza/Chinese) if you can't cook at all?
Usually there a senior transportation Dial A Ride services to take you to local doctor's appointments even if you are wheelchair bound. Otherwise, taxis and Uber can work if public transit is too difficult,
Yes I know this honobob. I never asked him, nor expected him, to have a plan to turn 3K a year into 300K in 30 years.
Though your comments are duly noted.
I'm clearly making the decision not to get LTCI at this time.
There's a big difference between some of the living options that were mentioned. For instance, the people who need a "SNF" are very different from those in assisted living. Assisted living is for those who are basically in good health and self sufficient EXCEPT they cannot drive or maintain a property anymore. People who go to assisted living--in many cases--do not really need to go, and could easily save the money if their family ponies up to help them. They might need only a smidgeon of help to stay in their own homes--such as taking them grocery shopping, to doctor appointments, mowing their grass or whatever needs to be done. In MOST cases, if these people have even a bit of help, they are FAR better staying in their own homes rather than going into assisted living. Assisted living is primarily for the rich or those with ample financial resources. Assisted living facilities offer new and luxurious apartments overlooking lakes or golf courses and 3 meals a day at several restaurants inside the facility, many offer swimming pools and other assorted activities
This is completely incorrect.
More than 50% of assisted living residents have dementia problems. What you are describing is "Independent Living Facility", not an "Assisted Living Facility". An assisted living facility has 24x7 nursing coverage. More than half the residents have medication management because they're not competent to take their prescriptions when they're supposed to. Lots of them have severe mobility problems. Staff has to come and push their wheelchair to everything. Meals. Any activities. Lots get assistance bathing. Some are incontinent. People are in assisted living because they can't possibly live by themselves.
I had to do this with my mom a year ago. She couldn't possibly have stayed in her home. She couldn't remember 10 minutes ago. It was unsafe without having someone there 24x7. I have tons of business travel. My sister has tons of business travel. There was no possible family option. Do the math on the labor costs of 24x7 for 365 days. The home care fee for any service around me is $20/hour and extra for nights & weekends. Assisted living is cheaper.
My wife and I are planning on getting LTCi. We have access to a group plan but we are going to look at other options. I anticipate though that we will go with the group plan. It has steady costs and the company has been doing that for many of years. John Hancock Insurance is the biggest provider of that coverage.
Be aware. When I went to a retirement seminar, our moderator told a story about a couple who opted out of the group policy because they found a cheaper individual policy. Turns out, they were denied after their physicals. They lost out on the group policy because you only get one chance to join. So if you end up going with an individual policy, make sure you've passed the physical and are accepted before opting out on the group.
Actuarially, LTC is a huge rip off. Very few really use LTC, and fewer yet, are in a LTC facility long enough to meet the exclusion period.
I learned in B school you either eat well or you sleep well. In regard to LTC, I'll have my Porterhouse medium rare!
Actuarially, all insurance is a ripoff! That's why actuaries and insurance companies make big bucks. Insurance is the only product you buy that you hope you never have to use. Think about it - do you want to use car insurance, health insurance, ltci? I definitely don't want to use life insurance - ha ha! But what I get with my LTCI is peace of mind. If the time comes that I have to be institutionalized I don't want to be put in a Medicaid facility. I've seen them and they really really suck. With my current LTCI policy, I will have 4 million bucks to cover the institution of my choice. Plus, I will not have to sell all my assets to sit in a 1950's era World War II bunker and be fed split pea soup every day.
Back in the 70's I was on the Pritikin Diet which is essentially a vegan one.
My wife and I got our cholesterol tested back then. Mine was 108, and hers was 97. I believe that babies are born with a cholesterol of about 85. The doctor at the time said they'd never seen ones that low and simply did understand how we could have that low a C. Now we are Vegan largely because of acid reflux. Vegans don't get acid reflux because we don't eat anything that requires acid to digest. After awhile your body realizes that this is the case and no longer produces stomach acid except in extreme situations.
I don't even bother with that kind of thing now. I've been a Vegan for almost 10 years. While I can still remember the smell and taste of bacon, I've actually moved on. Every once a in a great while I will have a tiny little bit of cheese, and now and then I will have some cookies that were made with eggs.
A good book to read on Plant diets is: HOW NOT TO DIE.
Excellent. Yes, the acid reflux I've had back in my 20's is long gone too. My wife is a great cook and there's so many great plant based dishes/very simple to prepare/very healthy. We've enjoyed eating this way for 12+ years now and with all the fiber, I actually stay filled up for a long time which is hard to do with my crazy appetite.
We actually have that "how not to die" book from Greger and still have to read it. He's very knowledgeable on the topic/an MD who gets what true prevention means. Dr Esselstyn who retired from the Cleveland clinic and Dr. McDougall are other one's who inspired me to eat plant based. And Dr. Fuhrman's first book, Eat to live.
And to the topic at hand, all the money we are saving in pills/procedures/health care costs, increasing the odds of living a better quality life/possibly longer, and increases the odds we die as we are suppose to die....not of wasting away with disease in an expensive nursing home with what I call poor quality of life in the last months/years with a bunch of pills and procedures that often doesn't equate to any quality, but a fairly quick downhill slide than lights out as nature intended. Plus it's a lot cheaper to eat plant based. Win-win short term/long term.
And if my best efforts fail and I get some ugly health matter that makes my quality of life not worth living? I'll become a resident if I have to or make a one way trip to CA, OR, or WA very quickly where assisted suicide is legal and there's my ticket. I don't want to suffer/live in poor health and burden those around me either with it. And if it was good enough/considered passionate for all the great dogs we've had over the years who were suffering in poor health in their life then it certainly is valid for me. Lots cheaper than long term care insurance too/paying for a nursing home with assets and a better path for me than having to "live" in a nursing home one day or suffer needlessly outside of one before I get to that age.
Back to something brighter......I'm hungry.....I feel like an avocado!
Yes, we get it, we all die of course. But genes need to be expressed, don't have to define your health as the final conclusion.
Example....wife was on high level of statin drug for years, 300+ total without it, 200 with 40mg of statin. Still high. Her parents have 400+ total cholesterol without pills. Most would say it's all hereditary, genes, no other options like her Dr.'s told her. Wife ate a fairly healthy diet the Dr. recommended and still no change in her total. The fix? She had to give up any food with cholesterol, including the small amount of boneless chicken and fish she ate. She adopted a whole foods plant based diet. In a few months, her total was down to the 150's, no statins.
Yes, she has a genetic disposition to high cholesterol. No question. But lifestyle changes were able to overshoot the expression of that genetic disposition for high cholesterol she no doubt has. The few people we know who wanted to give up their statins, blood pressure meds, etc we know had similar results with the same diet change my wife made.
Again, a choice is available for many of these common "diseases" that many think is all hereditary like cholesterol. Though I know most people don't want to adopt a lifestyle/diet change as my wife did. I get it. But for my wife it was well worth the change and it saves us a pile of money on statins and she's much healthier for it and goes back to this thread......at least offer this lifestyle advice as an option instead of the pills/procedure game in these top 5/10/20 lists to save money on healthcare costs.
I'd rather eat the food with cholesterol and take the damn pill. Eating healthy is good sound advice. Cutting out EVERY food with anything bad in it? NO THANKS
I'd rather eat the food with cholesterol and take the damn pill.
Most do. More power to you and your choice. I have a health care fund that has been on a tear for the last 10 years so I'm really glad there's a bunch of people like yourself that exist. So thank you.
As for cutting out any food that is bad in it, I don't do that either. A few times a month I'll have something that certainly isn't healthy. When we go to Las Vegas/hang out, we'll have a few drinks. Lots of unhealthy/plant based foods that will take your health down over the long term if you make a steady habit of them but once in a great while, I'm convinced the body isn't going to complain much. And there's lots of unhealthy vegans/vegetarians, ie junk food veg's out there for sure, who practice just that. Most of them I would say do just that based on my experience.
Location: Was Midvalley Oregon; Now Eastside Seattle area
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Quote:
Originally Posted by scorpio2
Plus, I will not have to sell all my assets to sit in a 1950's era World War II bunker and be fed split pea soup every day.
The good caregivers would never feed you "split pea soup". Less experienced caregivers, no more than once. If they are really inexperienced, maybe twice. If they are really dense, they deserve your gifts and oughta be fired immediately because you will be lying in "it".
This assumes that you are going to be a sickly, vegetable with a million health problems and that you run to doctors every second of the day.
How bout you just oh, take care of yourself?? Quite frankly, the reason these long-term care places exist are BECAUSE of the medical industry. It creates long-term patients for long-term gain.
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