youbet
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
i wish our area ran 3k it is 9-10k a month .
If you're referring to jkern's post, he said $7k/mo, not $3k.
i wish our area ran 3k it is 9-10k a month .
the NHs that take a big % of Medicaid patients will be pressured to keep cutting costs resulting in barely-adequate care.
I would think the state would have to enforce the law uniformly. If the law does not define limiting rules and guidelines, they likely could have counter suits and appeals to the Supreme Court of the state.
I could see this stuff if $ were shifted late in life, but not just because someone is related. JMO
We found out that that is a big deal here in Illinois. When we were shopping for a NH for my MIL in the Chicago suburbs, no facilities we liked were accepting Medicaid patients off the street. Because MIL could private pay for a year+, and because her SS and some military benefits would partially pay each month beyond that, we were able to negotiate her into a better place. This facility accepts no Medicaid cases from the street and only about 15% of the total patients are Medicaid. Those 15% are folks, like MIL, who ran out of money while in residence and were in a Medicaid qualified bed at the time they ran out of money. The facility gets most of MIL's SS, all of a small military benefit and is waiting patiently for Illinois Medicaid to start paying.
The bottom line is you want to be in a home where most of the residents are private pay and the quality of the facility and the staff reflects that the residents are free to move somewhere else if they are dissatisfied and can find what they think is a better place for their private pay money.
If you can only private pay for a year or two, be careful to pick the right place since once on Medicaid, you won't be welcome at many other places.
If you are on Medicaid from the get-go, get ready for a tough search, at least in NE Illinois. I've heard it's easier to find a decent place that takes Medicaid folks off the street downstate.
THIS!!!I read every LTC thread with interest. We don't have LTC insurance so we are in the self insurance crowd...and probably more into the hoping for good luck, roll the dice crowd than I care to admit. My one concern is that one of us could end up needing extensive LTC and impoverish the other. I am not so concerned if the last to die blows through all the assets....don't have a desire to leave a large estate.
Given my concerns, why don't I got for LTC insurance? At this point I just don't feel good about any of the plans offered.
Sent from my iPad using Early Retirement Forum
So how do you "cover the 1st spouse? But what if the first spouse does not stay in all that long?.. and then returns to the community. How I would think of covering the first spouse... but two LTCi policies at the same time as a couple and pay for a shared benefit rider. Assuming the 1st spouse uses all their benefit and the other does not, they then tap into the other policy. Now the question is how much to fund the policies.THIS!!!
A policy to cover the first spouse only would be very attractive to me. We just met with a Met Life rep about another matter and the topic of LTCI came up so I asked if such a policy existed and he just kinda stared into the distance. Anybody know of any way to cover the first spouse and preserve assets for surviving spouse?
Exactly my concern. The second to die can sell the house and use all the financial assets. That will pay for care to the point that we are dead or don't care.I read every LTC thread with interest. We don't have LTC insurance so we are in the self insurance crowd...and probably more into the hoping for good luck, roll the dice crowd than I care to admit. My one concern is that one of us could end up needing extensive LTC and impoverish the other. I am not so concerned if the last to die blows through all the assets....don't have a desire to leave a large estate.
Given my concerns, why don't I got for LTC insurance? At this point I just don't feel good about any of the plans offered.
Exactly my concern. The second to die can sell the house and use all the financial assets. That will pay for care to the point that we are dead or don't care.
But, I don't want he first to be the one who needs extensive care, then bankrupts the other. A shared pool LTCi policy might work, a good state partnership plan may work. Unfortunately, I think I need to research this more.