4:16 pm, February 28, 2015

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  • What's so great about LTC?
    contrarian
    They pay you to live in assisted living? Isn't that what your pensions and SSA are for? If you're monthly income is $4K how much more than that is assisted living? ISn't nursing home covered by medicare? In that case, why pay for LTC for years, why not just invest in the stock market and pay for assisted living out of that?
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Long Term Care
    Moderate
    First, unless you get a great pension and have great investments, the cost of long term care will probably exceed your pension and income from investments. I believe that in my area, it presently costs between $80,000 and $90,000 per year to stay in a decent place. For the most part, medicare does not cover that expense. Therefore, you would have to wear down your assets if you did not have this insurance. Then the facility may be covered by medicaid if the facility accepts medicaid. I do not know the rules in this area, but I would be very careful. And what would your wife llive on if all of this money went towards your care? This is why my wife and I have decent coverage. We have a 90 day deductible with 5% per year inflation coverage. It is expensive but I think necessary. That is my opinion. Others may disagree. There is no right or wrong on this issue.----With that in mind I would not buy it from the government providers. When I first got the coverage the same coverage would have cost me about $700 more with the government as opposed to private industry. This was before the great price increase a few years ago. Now I believe the same coverage would cost about $2000 more. So much for great government benefits. Any way, good luck with your decision.
    worker
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • I don't believe the $90K price
    contrarian
    Unless you're living in Hawaii or Paris. Or maybe you can move somewhere cheaper? I think my Grandma's assisted living was about $3500/mo for a name brand chain 10 years ago.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • I don't believe the $90K price
    El Fed
    The key is 10 yrs ago; add inflation to those number and you might be surprised. Around here (DC) and other major metropolitan areas, 90K is close enough for government work.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Check it out.
    Moderate
    An estimate is $250/day for 30 days for 12 months. That is $90000. Look it up.
    worker
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }