- Joined
- Apr 14, 2006
- Messages
- 23,183
It will be interesting to see how people cope with this. Adult children who have no one available to be with elderly/sick mom or dad 24X7 will be at a loss as to how to handle it. Elderly/sick folks who have no friends or family able/willing to care for them might have no place to be housed and cared for.
This could be particularly tough on folks counting on Medicaid to foot their LTC needs since Medicaid payments may increase more slowly than NH costs. NH's will be motivated to take only private pay clients. And as escalating gov't rules and regs designed to make NH's COVID-19 safer push up costs, how will LTCI polices and the companies that wrote them make out?
Yes, as you say, the NH industry may be "one the ropes," but if the industry struggles and shrinks, or becomes substantially more expensive than it already is, we're the ones that will be on the ropes.
Interesting times.
All good points, and I don't have any good answers right now. God willing, the young wife and I won't need to worry about this for the next 20 years. I surely hope things are straightened out by then, since we don't have children and a congregate living facility seems inevitable.