Quote:
Originally Posted by retiredguy123
Freedom Pointe is the best place to go in The Villages, if you can afford it. You pay an entry fee, based on the size of the independent living condo, and a monthly fee. Then, you can move to assisted living or to the nursing home as needed. The other places are just rental apartments where you don't even get a lease. I have always considered long term care insurance to be a ripoff.
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That’s a wide brush you’re paintin’ there with…….
Rip off?
For you? Maybe. For us? Maybe. Maybe not. What we have paid into it over the past almost 20 years, even though it is a lot, would not cover even one year in a nice place. The policy we have also covers home care.
We decided to buy the policy after we saw what care in a nice facility could do to a couple’s assets. We also knew someone in memory care which I think must be the most expensive of all. Memory care can go on for a very long time. Like I said, we pay a lot for something we hope to never use, but if we do, it will make things easier. Caregiving by family members can become exhausting. I have seen that happen with friends and their parents and one friend with her spouse.
And spending down to Medicaid was not an option as we saw it. Therefore, buying a policy was the choice we made.
ymmv
Boomer