Longterm Care Ins.
09-01-2011, 11:29 AM
#21
Super Member
Join Date: Oct 2009
Location: Wisconsin
Posts: 1,497
My mil has it and is now in assisted living with alzheimers - we are so glad she has it!
09-01-2011, 12:46 PM
#22
Power Poster
Join Date: Feb 2009
Location: Northern Michigan
Posts: 12,861
if you have a good insurance agent- who you have a good relationship with you should really sit down with that person and ask all of your questions-
if you believe at some point you will go into a facility- you definitly want it---to have to pay for your care can put families in dire hardship- and medicare really is not a good way to be *stuck*
if you have an understanding with your loved ones that you will never go into a facility- then you need some sort of (income-long term coverage) to pay for in home care to keep you at home- again--medicare will not help -
if you have lots of money and can cover all of your medical needs without fear of having to sell your home- don't bother with the insurance.
i have worked in the long-term care industry for many years and have seen all the sides- the people with no money- counting on what medicare will cover- the people with insurance- who don't have so much to worry about and seem to be happier in their situation- the the private pay people who start out ok---but as they live longer and longer they too start to worry about whether the money will last as long as they do---
but it needs to be an individual decision- and the first step is to sit down with an insurance agent who can explain it all to you-
will it pay for help in your home? will it cover all facility costs?
will it protect the people (at home) and can you afford it? what is your health? are you looking to celebrate a 100 birthday?
is anyone in your family prepared to take care of you?
lots of (individual) decisions -- you, your family- and your insurance agent should be the ones who are part of this decision...not really friends- and quilting buddies....
if you believe at some point you will go into a facility- you definitly want it---to have to pay for your care can put families in dire hardship- and medicare really is not a good way to be *stuck*
if you have an understanding with your loved ones that you will never go into a facility- then you need some sort of (income-long term coverage) to pay for in home care to keep you at home- again--medicare will not help -
if you have lots of money and can cover all of your medical needs without fear of having to sell your home- don't bother with the insurance.
i have worked in the long-term care industry for many years and have seen all the sides- the people with no money- counting on what medicare will cover- the people with insurance- who don't have so much to worry about and seem to be happier in their situation- the the private pay people who start out ok---but as they live longer and longer they too start to worry about whether the money will last as long as they do---
but it needs to be an individual decision- and the first step is to sit down with an insurance agent who can explain it all to you-
will it pay for help in your home? will it cover all facility costs?
will it protect the people (at home) and can you afford it? what is your health? are you looking to celebrate a 100 birthday?
is anyone in your family prepared to take care of you?
lots of (individual) decisions -- you, your family- and your insurance agent should be the ones who are part of this decision...not really friends- and quilting buddies....
09-01-2011, 01:17 PM
#23
Super Member
Join Date: Nov 2010
Location: maine/washington
Posts: 1,572
It also depends if your DH is a veteran and if he entered a VA facility ai think you would not have to pay -- athe best advice I could give is to contaact an advisor/planner on how best to protect youe assets -- there are many ways depending on your state laws, -- gift to children/ put into a trust, etc.
Some policies also cover at home services
I took care of my paralized DH for 3 years at home before he died at home and my new DH took care of his wife with ALS for 5 years at home.
We both could have used some help of some sort. Being a caregiver is devastating and exhausting. Neither of us would have changed anything though
Some policies also cover at home services
I took care of my paralized DH for 3 years at home before he died at home and my new DH took care of his wife with ALS for 5 years at home.
We both could have used some help of some sort. Being a caregiver is devastating and exhausting. Neither of us would have changed anything though
09-01-2011, 02:22 PM
#24
Administrator
Join Date: Nov 2006
Location: Southeast Georgia, USA
Posts: 9,102
Originally Posted by ckcowl
lots of (individual) decisions -- you, your family- and your insurance agent should be the ones who are part of this decision...not really friends- and quilting buddies....
please take note of the websites mentioned here and start your search there for reliable and impartial information.
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