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Politics : Politics for Pros- moderated
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To: Ilaine who wrote (120926)6/19/2005 7:02:16 PM
From: John Carragher  Read Replies (2) of 793781
 
long term care insurance. i understand there are dozens of types of policies... depending on how much coverage you want.

i only spent a short time looking at ltc. most of them seemed to have limited liabilities for term in nursing home. you buy a policy by number of years or months coverage you wanted protection. I do not remember any of the policies i looked at going longer than ten years. but that was ten years ago.

do you know how much time the average person spends in ltc (to get the average we have to include all those who never go to ltc, drop dead of heart attack etc)? Would you prefer to go directly to a nursing home or remain in your own home with support from visiting nurses or hired help?

I didn't go long term care insurance and with a sick wife i am her care taker. I prefer to do it as long as feasible and then seek help in the home. Only last resort would be nursing home. I doubt with her health situation it would be years in a nursing home and therefore any monthly payments not covered by soc sec , health benefits i will cover. In the end i think it will be much cheaper than ltc.

Ps i do intend to give my children the money i earned until there mother is well taken care of. If that means i go broke so be it. I do not think it is the publics responsibility to pick up the costs of care for us while their children run off with the assets. There are too many who could use the money much more wisely than give their tax money to others who selfishly give it away to avoid paying for their health care.
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