deteriorating health in my parents! Advice needed.

[imoldernu]

Latest info on insurance companies bowing out of nursing home insurance.

High Nursing Home Bills Squeeze Insurers, Driving Rates Up - ABC News

Quote:

Thirty years ago, insurance companies had the answer to the soaring cost of caring for the elderly. Plan ahead and buy a policy that will cover your expenses. Now, there's a new problem: Even insurers think it's unaffordable. Life insurance firms pitched long-term care policies as the prudent way for Americans to shoulder the cost of staying in nursing homes. But those same companies have found that long-term-care policies are squeezing their profits. Earnings for life insurers slid 11 percent in the most recent quarter, according to Moody's Investors Service, and long-term care was the chief culprit. "Insurers that sell these products lose money on them," says Vincent Lui, a life-insurance analyst at Morningstar. "So they're raising prices and also trying to get out of the business right and left." Four of the five largest providers — including Manulife and MetLife — have either scaled back their business or stopped selling new policies, according to Moody's. The largest provider, Genworth Financial, continues to offer them, yet has struggled under the weight of rising costs.

more...

[imoldernu]

One more recent article about choosing a retirement community. This one from "Money".
Posting here as a continuation of the discussion, for information purposes.

The article covers a comparison of rates by area of the country, for different levels of continuous care, as well as this interesting comment:

Quote:

Expect the move to take time. You may think you’ll be able to get Uncle Matt into a new apartment in a couple of weeks. The actual process takes an average of three months—or longer, if you’re on a waiting list.

Retirement Community: A Smart Way to Choose

There's also a link to "A Place for Mom"... senior living.

[spncity]

For those who might qualify, may I just mention a program called V.A. Medical Foster Home.

This is where a person (or a family) takes care of two or three veterans in their home. The people running the Medical Foster Home provide a room, meals, assistance with the activities of daily living, etc. -- and medical care/medical management is through the V.A. Primary Care at Home program (the nurse practitioner comes to the house, the nurse comes to the house, meds are delivered to the house, other disciplines come to the house).

It costs around 1/2 to 1/4 of nursing home cost, depending on the level of care (and perhaps geography). A relative in this program paid $2625 - $2800 per month for heavy care.

Only if a specialty doctor is needed is the veteran taken to the VA hospital or system.

The gateway to this program (in areas where it exists) is the local V.A. Medical Foster Home social worker.

[48Fire]

Quote:

Originally Posted by spncity For those who might qualify, may I just mention a program called V.A. Medical Foster Home. This is where a person (or a family) takes care of two or three veterans in their home. The people running the Medical Foster Home provide a room, meals, assistance with the activities of daily living, etc. -- and medical care/medical management is through the V.A. Primary Care at Home program (the nurse practitioner comes to the house, the nurse comes to the house, meds are delivered to the house, other disciplines come to the house). It costs around 1/2 to 1/4 of nursing home cost, depending on the level of care (and perhaps geography). A relative in this program paid $2625 - $2800 per month for heavy care. Only if a specialty doctor is needed is the veteran taken to the VA hospital or system. The gateway to this program (in areas where it exists) is the local V.A. Medical Foster Home social worker.

Is this program available for the surviving spouse of 21 year retired veteran? I am guessing not, but MIL is getting some benefits due to her husband disabilities associated with service. Thanks!

Sent from my SCH-I535 using Early Retirement Forum mobile app

[48Fire]

Quote:

Originally Posted by imoldernu One more recent article about choosing a retirement community. This one from "Money". Posting here as a continuation of the discussion, for information purposes. The article covers a comparison of rates by area of the country, for different levels of continuous care, as well as this interesting comment: Retirement Community: A Smart Way to Choose There's also a link to "A Place for Mom"... senior living.

Very timely, imoldernu. Thanks for posting. Just talked to DW this morning about needs to accelerate our decisions, based on her mom's rapidly deteriorating condition

Sent from my SCH-I535 using Early Retirement Forum mobile app

[Retch The Grate]

Quote:

Originally Posted by LitGal Plus, it helps that it's a non-profit and self-owned. It's been popular, filled, and thriving for over 25 years. People move to it from all over the country because of its national reputation. (Plus the place costs less in northeast Ohio than in--say-- Northern California where my mom's room in assisted living runs $4K/mo. But, granted, she pd. only a nominal up-front fee; but, if she runs out of money, she's out. If I run out of money, I won't be.)

Northeast Ohio reminds me that Kendal at Oberlin might be cool if I don't mind going back to terrible weather...

[spncity]

Quote:

Originally Posted by 48Fire Is this program available for the surviving spouse of 21 year retired veteran? I am guessing not, but MIL is getting some benefits due to her husband disabilities associated with service. Thanks! Sent from my SCH-I535 using Early Retirement Forum mobile app

I don't know but it's not hard to ask a Medical Foster Home Social Worker. I know there's one in Dallas at the V.A.

Kindest regards.