What is your Long Term Care Plan? (benefits, cancer, older)
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Really folks............. Long-Term Insurance doesn't work because it is so EXPENSIVE. Insurance company will go broke, and there goes your long-term care.
And the Government, well they want you to spend ALL YOUR money, and then they will pay for long-term care. GOT KIDS?? Make them a offer....long-term care for their inheritance.
BUT THEN....we as a country went through this before....the Civil War brides. Yep, the last Civil War bride's pension was paid in the 1990???
So this is my plan....My wife or I need long-term care the other provides.
My wife dies first....I put an ad in the local paper for a long-term care giver. Full room and board, but no salary. However, she can have the survivor benefit from my pension. A pension for the rest of her lifetime, and INDEXED for inflation.
If I can find somebody young enough she will have that pension into the 22nd century!!
Awesome
Quote:
She was just 19 in 1936, when she married 91-year-old Civil War veteran James Bolin after volunteering as his caretaker in his final years.
“He asked her to marry him and basically explained that if they were to marry, that when he passed away, that she would be able to draw his pension,” historian Jill Phillips said.
the idea of living in a studio where i can entertain guests , sit on the toilet and cook all at the same time was never anything i had interest in living in
If this thread is about long-term health plan, then that's mine and I believe it should be everyone's long-term health plan as well. I've decided to opt out of the standard American plan of unhealthy diet, obesity, pills for everything, and going to the doctors and hospitals every week.
That's great. Hope you stay lucky.
For some of us, stuff happens and we end up on the roller coaster of frequent dr and hospital visits. Very hard to predict who it will happen to.
Of course, people can have a sudden health change and you should be as prepared as possible to deal with it. Wife and I are seemingly very healthy and can take care of the other if need be. If we need long-term care, we can get it, it just would lower the inheritance of our children. We're both on the younger half of our 60's.
Our current house is a 2 story and we have looked at getting a lift for my wife who has knee problems so that's one way to deal with that situation and we have the ability to buy a 1 story and will probably have to do that at some point.
Yup. I don't have mobility issues, but when I bought my condo ten years ago, I found a one-story, two-bedroom unit (I am divorced/single) they call the "ranch" style, which is situated between two typical two-story townhouse type units. It has a small, fenced-in patio and garden area, a covered front porch, a storage room, an attic above accessible by pull-down stairs, and NO front steps. I said, "Wow, I can get old and decrepit here!" I'm not into the 55-and-over community thing, so it was a nice find to get something like this among the typical multilevel townhouses. Six miles from the Atlantic ocean, a train ride to the city, it's a good spot.
I am well aware of the Medicare requirements for a 100 day stay in a nursing home.
The daughter who told me this story may have gotten the facts wrong. However, I can see where a medical evaluation would be required to determine that the person did indeed require nursing home care vs. assisted living which was not covered by the LTCI.
this was strictly not meeting medicare requirements , not a long term care policy which pretty much all have the same criteria clearly spelled out today as far as qualifying and this story would not be one of the conditions
what long term care insurance company went broke ?
Ltci doesnt work ? really ….
the misinformation that people post in these threads is just amazing
Quote:
Originally Posted by 509
Really folks............. Long-Term Insurance doesn't work because it is so EXPENSIVE. Insurance company will go broke, and there goes your long-term care.
And the Government, well they want you to spend ALL YOUR money, and then they will pay for long-term care. GOT KIDS?? Make them a offer....long-term care for their inheritance.
BUT THEN....we as a country went through this before....the Civil War brides. Yep, the last Civil War bride's pension was paid in the 1990???
So this is my plan....My wife or I need long-term care the other provides.
My wife dies first....I put an ad in the local paper for a long-term care giver. Full room and board, but no salary. However, she can have the survivor benefit from my pension. A pension for the rest of her lifetime, and INDEXED for inflation.
If I can find somebody young enough she will have that pension into the 22nd century!!
Yup. I don't have mobility issues, but when I bought my condo ten years ago, I found a one-story, two-bedroom unit (I am divorced/single) they call the "ranch" style, which is situated between two typical two-story townhouse type units. It has a small, fenced-in patio and garden area, a covered front porch, a storage room, an attic above accessible by pull-down stairs, and NO front steps. I said, "Wow, I can get old and decrepit here!" I'm not into the 55-and-over community thing, so it was a nice find to get something like this among the typical multilevel townhouses. Six miles from the Atlantic ocean, a train ride to the city, it's a good spot.
Sounds perfect. Wife and I have to compromise, I would prefer living in a 50-floor condo in the largest city in the world and she wants to live in the most remote area of Montana on a 10,000-acre ranch that can be only be reached by helicopter. So, we live in a Phoenix suburb that isn't too large and we can get to the airport and downtown in 30 minutes or so, I love it.
I've got mixed feelings about the 55+ communities, I like them but don't love them so probably not. SIL moved to The Villages in Florida about a year ago and that does seem pretty nice.
While working, I lived on assignment for extended time in Shanghai, Seoul, Moscow, and London and found that I really enjoy the big city but not sure about that in retirement.
I go to the dentist for cleanings 3x/year and have for 20+ years (my gums need it).
Annual physical, screening tests.
On top of that, my doctor requires me to come in quarterly for blood draw, check of sugar/A1C, cholesterol, thyroid, and standard chem panel, and a quick exam, or she won't refill prescriptions. I've been on the same meds for years, but that's the dance I'm required to do.
As for a long term care plan, when my father was in a locked rehab wing and soon headed for full care nursing, I talked to his doctor, and we discussed LTc insurance. He told me I was better off saving/investing money for that, than paying for the insurance. I found it interesting. That was my plan anyway, but hearing a doc who makes rounds at a nursing facility say it was not what I expected. (My father passed away before he ever had to be transferred to a full care facility. He never would have wanted to go, so good for him!).
I see the OP is no longer a member. (status, as observed under his username)
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