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Old 07-28-2016, 09:17 AM
 
Location: SF Bay & Diamond Head
1,776 posts, read 1,588,686 times
Reputation: 1973

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Quote:
Originally Posted by GeoffD View Post
The difference is that public sector jobs have a long list of juicy "side benefits" that were never funded properly. Since this is a LTC discussion and California was brought up, here's the California version of the mushroom cloud all the underfunded public sector LTC plans are experiencing.


Lawsuit alleges CalPERS misled customers with long-term care plans - latimes

The taxpayers are stuck paying the tab. Current employees are facing massive rate hikes but the retirees are shielded from it. The same thing has happened with pensions and early retirement health benefits. Corporations largely had to fix this decades ago and the "fix" was to completely kill off those benefits since they're unaffordable.
.
This is not true. No taxpayers are stuck AND no retirees are shielded. See below. IT is an employee-paid benefit. As far as the premium increase lawsuit it is merely a money grab attempt by a law firm. The ability to raise premiums was clearly stated. Why anyone would assume that there would be no increase in premiums when the benefit is increasing at 5% annually is beyond reason.

Long-term care (LTC) coverage helps pay for the high cost of care when you need assistance with the activities of daily living. CalPERS LTC is an optional, employee-paid benefit available to all current and former members (including retirees) and their eligible family members, including:
•Children and siblings between the ages of 18 and 79
•Parents
•Parents-in-law
•Spouses
•And many additional relatives


CalPers LTCi is highly rated and available to a wide range of people. Check out their website.
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Old 07-28-2016, 10:53 AM
 
Location: SF Bay & Diamond Head
1,776 posts, read 1,588,686 times
Reputation: 1973
Originally Posted by GeoffD

So from what you've written, your LTC insurance comes from some California state job with the state backing the LTC policy. The vast majority of us never had that in our benefit package. I find your whole attitude about this reprehensible. You had some random state job where the taxpayers are now paying for you. I'm just glad I'm not one of the suckers paying California state income taxes to prop you up.

This also is UNTRUE. Please show me where I wrote about having some random state job. As posted earlier CalPers LTCi is funded by the participants. Employment by the State of California is not a requirement. No taxpayers are paying to prop anyone up.
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Old 07-28-2016, 11:18 AM
 
Location: USA
6,231 posts, read 5,976,978 times
Reputation: 10686
For many, the lottery is their plan.
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Old 07-28-2016, 01:19 PM
 
Location: SF Bay & Diamond Head
1,776 posts, read 1,588,686 times
Reputation: 1973
Quote:
Originally Posted by s1alker View Post
For many, the lottery is their plan.
Well that and hoping their career as a Rapper takes off! LOL
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Old 07-28-2016, 06:24 PM
 
Location: Guadalajara, MX
8,742 posts, read 4,188,950 times
Reputation: 15972
Quote:
Originally Posted by lottamoxie View Post
For me
Two words of wisdom that anyone saying everyone should have LTC or that nobody should have LTC should heed. Everyone's situation is different. Married versus single, age, assets, source of income stream and how much of it is discretionary, etc. there is no single correct answer.

My wife and I have travel insurance, health insurance, car insurance (cheapo touring policy to keep coverage constant), and umbrella insurance. We do not have LTC insurance, it doesn't make sense for us.
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Old 07-29-2016, 12:03 PM
 
Location: SF Bay & Diamond Head
1,776 posts, read 1,588,686 times
Reputation: 1973
This will be a continuing problem with people relying on the government.
San Francisco’s Elderly Chinese Suffer from Nursing Home Closure | State of Health | KQED News

Here's an analysis of the decision to keep CalPers LTCi despite the large increase.

http://www.gotltci.com/2014/08/shoul...rate-increase/

Last edited by honobob; 07-29-2016 at 12:34 PM..
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Old 07-29-2016, 12:39 PM
 
31,056 posts, read 37,197,309 times
Reputation: 13344
Quote:
Originally Posted by honobob View Post
This will be a continuing problem with people relying on the government.
San Francisco’s Elderly Chinese Suffer from Nursing Home Closure | State of Health | KQED News

Here's an analysis of the decision to keep CalPers LTCi despite the large increase.

Should You Accept an 85% Rate Increase? | Got LTCi
From your link: I consider these to be very important passages that folks need to be aware of.

Quote:
Mission Bay housed only Medi-Cal patients, so its revenue was limited to the reimbursement it could get, which in 2013 was $185.39 per patient per day according to the state Department of Health Care Services.

In short, costs were growing faster than the reimbursements.
Quote:
Nadell says San Francisco is steadily losing low-income nursing home beds. He estimates 900 Medi-Cal beds have disappeared over the last 20 years — about a third of the supply. None are being added.
Quote:
Most of the patients at Mission Bay wanted to stay in the city. But out of 35 patients, only two were able to secure a spot in San Francisco.
The private sector is not racing to build Medicaid beds for those unable to pay on their own. What are folks going to do without a plan or perhaps most importantly the ability to have a plan.
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Old 07-29-2016, 02:59 PM
 
1,674 posts, read 978,664 times
Reputation: 6167
The private sector is not racing to build Medicaid beds for those unable to pay on their own. What are folks going to do without a plan or perhaps most importantly the ability to have a plan.[/quote]


Sadly, this is happening more and more. When we were looking for care for my mother, we were given a "phone interviews" with the cost given upfront. They didn't want to waste time on meetings or tours unless they knew you could afford it. When they realized my mother could pay herself, plus had LTCi, we were welcomed with open arms.

Many people are living a more healthy lifestyle now, but the flip side is they also live longer and eventually assistance may be needed.

My cousin had a real shock as she haughtily said a facility HAD to take her mother on Medicaid because it was "the law". Uhmmm, no they don't. She had her mother sign over her home a number of years ago for her inheritance, and now her mother has no assets to private pay for the 2-3 years the facilities expect. We tried to warn her but she said she would sue if they refused to take her mother - good luck with that!
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Old 07-29-2016, 03:25 PM
 
25,153 posts, read 17,733,344 times
Reputation: 18306
Many nursing homes and hospitals, those that rely wholly or mostly on Medicaid and to an extent Medicare are either closing or in dire financial situations. Obamacare with its cuts to reimbursement rates is actually helping the process along.


Hospitals of last resort/charity care often simply cannot remain open if they cannot find/attract "wealthy" patients and or those with good insurance.


The push for aging in place has taken away many seniors who in times past would have been in nursing homes. Thus that market has shrunk. Many places are retooling themselves in whole or part from nursing homes to "rehabilitation" or skilled nursing facilities which means a different patient mix than a pure nursing home.
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Old 07-29-2016, 04:14 PM
 
Location: Baltimore, MD
4,259 posts, read 4,729,225 times
Reputation: 7938
Quote:
Originally Posted by shamrock4 View Post
<snip> My cousin had a real shock as she haughtily said a facility HAD to take her mother on Medicaid because it was "the law". Uhmmm, no they don't. She had her mother sign over her home a number of years ago for her inheritance, and now her mother has no assets to private pay for the 2-3 years the facilities expect. We tried to warn her but she said she would sue if they refused to take her mother - good luck with that!
The cousin should reimburse her mother for the home.
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