Quote:
Originally Posted by retiredguy123
If it was an "assisted living" facility, not a nursing home, it is unlikely that a typical facility would care for very many residents without some type of special State authorized Medicaid program approval. Most assisted living facilities are "for profit" businesses that will require non-paying residents to move out. Some states have a special Medicaid program that will pay for a very limited number of assisted living residents. By contrast, most "nursing homes" rely heavily on the Medicaid program to fund their facility. It is not unusual for as many as 90 percent of a nursing home's residents to be on Medicaid.
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Thus, my point. Why worry about having enough money, the government will pay your way when you’re old. It was a real eye opener for me over ten years ago.
My parents were not wealthy but saved and planned carefully. It doesn’t take long to blow through a hundred thousand dollars for assisted living care and even faster if the patient requires “memory care”.