Quote:
Originally Posted by retiredguy123
I don't know all the details of long term care insurance, but, if you end up in a nursing home, you will get the same level of care as a Medicaid patient. With a gifting plan, you can qualify for Medicaid and still have your money held by family members. If long term care insurance provided a better level of care than Medicaid, it may be worth it, but I don't think it does. Another thing I don't like about long term care insurance is that the insurance company decides when you are eligible for benefits, not an independent third party. So, if they deny benefits, what can you do about it?
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You are assuming that all nursing homes provide the same level of care. That is not so.
Homes that have mostly Medicaid patients provide a minimum level of care. Constantly short handed. Call buttons go unanswered. Sometimes smelly.
More costly homes with few, if any, Medicaid patients will take better care of you. That is what the LTC insurance provides.