Quote:
Originally Posted by Aces4
What a joke, dump your money on your heirs so they can live the good life while the rest of the population pays for your fanny. I think to stop this practice, which has been going on for a long time, long term care should be beds in wards, shared public bathrooms and very, very basic care including the food. How about your kids take you in, provide the care and you pay them? That would be far more equitable for the American people.
I have watched so many couples dump their money to the kids to live off the public coffers. Talk about a travesty...  |
I partially agree with you. But nursing homes are basically Government Medicaid-funded facilities. The nursing homes do the bare minimum to comply with Government rules and it is the nursing home owners who are getting rich. If you move into a nursing home with $100,000 in life savings, it will be gone in about a year or so, and then the Government will be paying the nursing home through Medicaid. You will be broke and won't even be able to go out to dinner or buy a TV or a piece of furniture. But, if you can gift that money to your heirs, they can help you out by spending some of the money on you. (hopefully?)