[JMintzer]

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?

For someone who admits they "don't know all the details of long term care insurance", you are sure making a lot of assumptions...

We bought our policies decades ago, starting at just over $1K/year each.

We just received our annual bill and its Just under $2.5K/year each... (it went up when we hit 65).

Our annual bill wouldn't even cover 1 month of home care or living in an assisted facility. Since we bought it when we were young, it's been a bargain.

What we've spent in total (premium wise) wouldn't cover 1 year in a nice assisted living facility, yet it's included in our policy.

To compare, our next door neighbor pays about $15K per year each (they waited to buy their policies...)

For us, since we bought our policies early, it's a bargain.

We had our financial planner review all of our insurance policies and he told us to NEVER miss a payment on those long term policies. That they were worth their weight in gold and that you cannot even buy a similar policy any more...

I will gladly pay $2.5K/year for in home care or an assisted living facility if/when needed...

[Grinchie]

Originally Posted by Mobrien

Are you saying 25% (91m) of the population is enrolled in Medicaid?

Most people on welfare are covered by Medicaid. That includes all children in a family on welfare.

[retiredguy123]

Originally Posted by Grinchie

Most people on welfare are covered by Medicaid. That includes all children in a family on welfare.

Also, many people using the ACA for health insurance are on Medicaid. See Post No. 50.

[CoachKandSportsguy]

Originally Posted by GoldenBoy

Stop reading this drivel. Find an elder care attorney and make a plan. No one on this site is qualified to give any useful information.Find an ElderCare Attorney and make a plan.

oh please. . you type like an attorney looking for work

there are many experienced people here who are intelligent and have gone to elder care attorneys, and are relating their experiences. Relating experiences is not the same as legal advice, but its a good place to get familiarized before seeking legal advice and some can be better than an inept lawyer, there are some out there. .

been to two personally, and one was much better than the other.


free seminar tomorrow at 1PM from Trotterlaw.com by eldercare attorneys.
must call (352) 205-7245 for reservations. ..