Have you got long term care insurance?

Have you got long term care insurance?

Joined: June 5th, 2006, 5:33 pm

November 29th, 2011, 1:33 am #1

I know Dave Ramsey tells people to get it all the time, starting when you turn 60 or so. My mom has it, my in-laws don't. I've also heard news reports that people have paid for it for years and then when it comes time to go to a nursing home, the insurance either doesn't pay well, or the company has gone bankrupt by that time.

Seeing what the in-laws are going through now, I'm not sure whether it would be better to buy long term care insurance or invest in a Kevorkian plan. lol

If you don't have insurance, and you don't have medicare, how do you pay for care? And is there another option other than nursing home?

The best thing for my in-laws would be a place where they could both live in an apartment, inside a facility that had aids to get fil up & dressed, to the bathroom, etc. Everything that required lifting or steadying him. And also a place where mil could come and go at will. But is there such a place? If so, how do you find one?

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The road to success is always under construction.
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Joined: May 21st, 2006, 4:46 am

November 29th, 2011, 3:09 am #2

nt
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Joined: May 25th, 2006, 12:05 am

November 29th, 2011, 4:22 am #3

means many things to many facilities. Those living in the assisted living apartments here have to, by law, be able to get themselves out of the building when they hear the fire alarm. If they are not mobile enough to do so, or cannot hear the alarms, they do not qualify.

Assisted living where my Grandmother is, provides dining room meals, dispenses medications, and keep her from forgetting to get up, or to go to bed. The remind her to shower, but don't shower her, they provide meals and remind her to go to breakfast, but don't feed her, they remind her to get dressed, but they don't dress her. Luckily she still realizes that the alarms mean to get out, but when the day comes that she doens't coorelate them to getting out of her apartment she will no longer qualify for assisted living.
glendaMO
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Joined: May 21st, 2006, 4:46 am

November 29th, 2011, 5:04 am #4

...that it means different things in different places. During the short period that MIL was in assisted living, there were actually 3 levels of care, and you were charged accordingly. The highest level wasn't that much different from a nursing home; at the lowest level, not many services were included. Perfect for a couple where one partner needs a help, and one doesn't.
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Joined: May 25th, 2006, 10:01 pm

November 29th, 2011, 1:05 pm #5

I know Dave Ramsey tells people to get it all the time, starting when you turn 60 or so. My mom has it, my in-laws don't. I've also heard news reports that people have paid for it for years and then when it comes time to go to a nursing home, the insurance either doesn't pay well, or the company has gone bankrupt by that time.

Seeing what the in-laws are going through now, I'm not sure whether it would be better to buy long term care insurance or invest in a Kevorkian plan. lol

If you don't have insurance, and you don't have medicare, how do you pay for care? And is there another option other than nursing home?

The best thing for my in-laws would be a place where they could both live in an apartment, inside a facility that had aids to get fil up & dressed, to the bathroom, etc. Everything that required lifting or steadying him. And also a place where mil could come and go at will. But is there such a place? If so, how do you find one?

------
The road to success is always under construction.
I will be able to live in my home with a CNA or other adult living in with me. I don't want to go live with my kids, and I don't want them to have to give up their lives to come live with me. I am hoping to have a farm hand or two by then and someone to live in the house, with one of my kids overseeing the money. If I get to the point where I don't know what's going on around me, then it really doesn't matter if they put me in a nursing home. Until then, I really, really, really want to be in my own home. I actually have someone in mind to do the live-in thing when it comes to that, if he is still available at that time. My accountant loves the long term care insurance, and he is uber-conservative, so I keep thinking I should check into it. But not sure if they cover in-home care, and that is really the only thing I want. God, take me early if that cant' be the case.

Blessings,

Bethann
Matthew 6:33
http://gettingtheresimply.blogspot.com/

"Live in such a way that you would not be ashamed to sell your parrot to the town gossip." --Will Rogers
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