Long Term Care coverage

[shorthairsrus]

[FONT=open_sansregular]The Fargo metro area generally has the highest nursing home expenses in North Dakota.

My mother was at eventide fargo --I relooked at my emails --- I will correct the amount --- 398.99 per day -- special care low --- i have a price list from them --- 24k to 8k being the lowest per month. [/FONT]

 

[Reprobait]

If you are an older senior citizen and can no longer take care of yourself and need Long-Term Care, but the government says there is no Nursing Home care available for you, what do you do?

You may opt for Medicare Part G.

• The plan gives anyone 75 or older a gun (Part G) and one bullet.
• You may then shoot one worthless politician.
• This means you will be sent to prison for the rest of your life where you will receive three meals a day, a roof over your head, central heating and air conditioning, cable TV, a library, and all the health care you need.
• Need new teeth? No problem. Need glasses? That’s great. Need a hearing aid, new hip, knees, kidney, lungs, sex change, or heart? They are all covered!
• As an added bonus, your kids can come and visit you at least as often as they do now!

And, who will be paying for all of this? The same government that just told you they can't afford for you to go into a nursing home. And you will get rid of a useless politician while you are at it.

And now, because you are a prisoner, you don't have to pay any more income taxes!

Is this a great country or what?

 

[LBrandt]

cant take away what you don't have.

 

[ItemB]

Protect your assets through a good estate planning attorney. Then put the $ you would spend on LTC insurance into something else. Unless you got the $ to burn. My advice would be to go see a planner first.

Whats a good reccomend age to get a good estate plan done or should one go my a certain net worth? Anybody got a few recommendations for a good estate planning attorney? The problem I see with buying this coverage is you buy it for a certain dollar amount of coverage, but you have to buy younger to afford/make it some what worth it, but you have no idea what the cost of long term care is going to be in 40 years when you may possibly need it. And who know by then there will be some new disease/problem that will put me in a nursing home, then the insurance company will say sorry that was unknown or something and wont pay a dime. Is there some sort of protection if the insurance company goes bankrupt?

 

[Ericb]

Whats a good reccomend age to get a good estate plan done or should one go my a certain net worth? Anybody got a few recommendations for a good estate planning attorney? The problem I see with buying this coverage is you buy it for a certain dollar amount of coverage, but you have to buy younger to afford/make it some what worth it, but you have no idea what the cost of long term care is going to be in 40 years when you may possibly need it. And who know by then there will be some new disease/problem that will put me in a nursing home, then the insurance company will say sorry that was unknown or something and wont pay a dime. Is there some sort of protection if the insurance company goes bankrupt?

I sell health insurance mainly on the Medicare side, I'm not trying or do I sell Ltc insurance. Im Just trying to point out some facts. There is usually the opportunity for a inflation. rider that will increase the policy a certain percentage each year usually about 3%. To qualify for a claim it is usually based off of being able to perform activities of daily living not certain diseases. There is a guarantee association if a company were to struggle but most of the time they are bought out by more solvent companys. I would always recommend going with a company that has a good track record. Problem is with LTC jt us a fairly new insurance with a limited claims history that is ever evolving with the advancements in medicine.

 

[db-2]

So many things can happen and who knows what will come tomorrow. Me and the wife need to find a place to go die at and get bury at, no sense rushing some things. Have nothing line up for that and it is not where we have lived for most of the last 40 years.

Have not done any estate planning(not that big or that many things). Put names on things to past down for a will (hopefully that will all happen while we are still alive and can still reason) and if any cash left split five ways. Kids all know that and some of things we have already given them. A lot of happiness watching them get and hopefully they keep until we die.

No way do I want them to end up hating each other after we die because one took a certain something so we communicate with them verbally and as stated give those things up while we still live at home. They all know about the piece of paper and what we want each to have. Maybe not equal cash value but close. If for some reason we both go to a home unexpectly they are to come into the house and get all that stuff out. Need to get their names on certain titles to cover that issue. Pass assets now with life estate works well.

For us two things: we will pay for our funeral and we want them to continue to see each other after we are gone. Should however get a living will for when to let us go.
Both of our minds are getting weaker and we know that. Bodies are starting to ache a lot. No pills, no doctors and no know problems yet.
But it can happen tomorrow. Just hope we are satify with the life we lived and the kids are also. When the time comes we go fast.
Got a thousand things to do yet on earth but I imagine we will have a million things to do after we die.

As far as the state taking care of us. It seems we have taken care of half the people most of their life with our tax money so in time I guess the two of us will get that same care when we are old as the trash gets when they are young. db

 

[tikkalover]

There is no set rate a nursing home can charge a person . If you do not have nursing home insurance, or you have one, but it only pays a minimal amount per day, you have to pony up the rest of the cost they charge you. You have to give them a list of ALL your money and assets you have, home, land, CDs, bonds, retirement funds, life insurance, burial funds, etc., etc., etc. The more you have, the more they can charge you per day. I know this because my mom who is now 89, and had Thrivent which is a Lutheran organization nursing home insurance, and paid, I believe $150 a day for 3 years "that's the way she had hers set up", and she had to kick in the rest of what it cost to stay there. She started out at Edgewood and was there for 4 or 5 years and she has been in Minot Health and Rehab for 3 years now. When her money was gone, we put her on Medicaid to help pay for the nursing home. All the money she can have to her name is, a $6000 burial fund and $3000. That being said, she pays her share of the nursing home monthly payment, with her social security and VA checks, and the nursing home sends the state a bill for the rest of the monthly fee.

 

[( deleted account )]

Excellent point Erich! We all complain about people being on the government dole here, yet when it comes down to taking care and paying for oneself, I continually read of all kinds of end runs around self responsibility and how to get elderly loved ones covered with Medicaid, AKA Welfare. Yes Plainsman, from Liberals AND Conservatives! LOL All of of us here are vocal when it comes to welfare, but when it touches ourselves or our own loved ones, we want different rules. I’ve seen this many times over the years, as I’m sure every long term care sales guy sees this at least weekly.

Soap box follows - sorry....

it's interesting how they manage this in other countries. Should be seriously looked at here, like medical insurance costs, but that’s another topic. Nursing home care, assisted living, etc. is a terrible costly problem and will only become worse with the influx baby boomers in declining health entering retirement,every day. It’s more of a future question, not IF we pay for it, but HOW do we pay for it, and most importantly how do we cut costs. Do good quality nursing homes really have to be like 5star high class hotels, etc. I’m not suggesting they be cheap lousy awful places either. OK, off my soap box now.

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And good description of the system, tikkalover!

 

[shorthairsrus]

There is no set rate a nursing home can charge a person . If you do not have nursing home insurance, or you have one, but it only pays a minimal amount per day, you have to pony up the rest of the cost they charge you. You have to give them a list of ALL your money and assets you have, home, land, CDs, bonds, retirement funds, life insurance, burial funds, etc., etc., etc. The more you have, the more they can charge you per day.



A rate exists --- not saying that the rate is fair --- but in our case we didnt have to list $hit - until you run out of money. When you have to ask the state for money - yes then that is when assets are listed; prior gifts are a issue etc. Until you run out of money the rate is based on a assessment and computed by ones level.

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Yes i agree with you bobcat 100%. Liberals say tax tax and then when it comes to their own taxes they bitch. Same with the conservatives - when it comes to their own they utilize every govt program possible. Dont know anyone that turns down social security or medicare.

 

[PrairieGhost]

Yes Plainsman, from Liberals AND Conservatives!

;:;rofl I agree. The only difference is my conservative friends don't admit it. There is this attitude you paid taxes now you have to get it back. We get it back in education, roads, and other services. My kids went to school free so I'm not going to complain about paying my taxes. Some guys will jump on my attitude and say it's because I was a gov employee. Nope it's because I know the gov doesn't grow money on trees and what one gets comes from someone else. We can't expect everything then complain about taxes. Services aren't magic they cost money.

 

[deactivated]

Since baby boomers took over, the US debt has increased by 2800%. The purchasing power of the dollar decreased 70%. Trump, with the help of a Republican majority in the house and senate, is on pace to add about the same amount of debt in 4 years as Obama did in 8.

 

[Meelosh]

https://www.cnbc.com/2016/07/26/ahoy-matey-more-folks-retiring-on-a-cruise-ship.html

 

[BrokenBackJack]

There would be way more money to take care of the old people if these lazy sumbitches would get off their asses and go to work rather than laying at home and having kids and our tax money goes to taking care of them. Damn Medicade should be drug tested and checked on to get these free-loaders off the system.
They get rent paid, food stamps, healthcare, and who knows what else they qualify for and our elderly try to scrape by. This system is so damn rigged it isn't funny!
Rant over.

 

[db-2]

I am one that will complain about the young, able to work, who work the system and get welfare. They only work hard at not working.

Since 1969 the wife and I have made a little over 3 million. Not one dollar of assistance even when we qualify for it. During that time we along with our employer have paid a touch under $400,000 into SS and a bit less in federal income tax.
Today we receive $3,418 in SS benefits. That is after they take out $259/month for medicare of a total monthly health care bill of $700.
Using 3% since 1969 and 3418/month, those SS funds will last until I am 89 starting at age 71 before all gone. Not sure where one would find 7% over that time frame.

Now there is more to these numbers and other consideration not in this calculation.

So my 22 my dad gave me when I was young, my Roy Roger's double holster with twin RR cap guns, my Red Ryder guns, my slide rule from high school, my fire truck I got before I had a memory, my S&K socket set my father gave me at Christmas my senior year, my trike I got for my 4th birthday and others will not be turn over to the nursing home to sell to get me and the wife another day. They will all disappear long before that. Most of our assets are in the form of cash and yes they will get a big share of that until it runs out. Depends on how much cash is left, when we go and if we go.

I have no problem in bitching and then trying to keep mine. We work for ours from day one.
And then the welfare next to me comes to my home and takes. When I catch the cops nor the judge will do anything. In my age of 40 I finally got a new 500cc liquid cool sled with cash . Before a year was up the system decide the welfare could keep and drive.

But last night I did reread this topic. I find I have only begun to prepare the family for our death. The wife and I have a lot of work to do, communication with the kids and with each other. She asked me to quit working and then find a place for us to die and get bury at.

Our goal is not to enter a nursing home. Many do not and I know many who at best spent some time in comfort care before passing on.
There is a couple in town who both turned 98 this spring. Every evening at 5 they drive to the bar, she drinks coke and he a hard drink, they have a pizza and then drive home. Hopefully one of us is able to care for the other if need be.
db-2

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Broken back only wish I could give you more than one thumps up.
We both got old and seen to much. db

 

[deactivated]

There would be way more money to take care of the old people if these lazy sumbitches would get off their asses and go to work rather than laying at home and having kids and our tax money goes to taking care of them. Damn Medicade should be drug tested and checked on to get these free-loaders off the system.
They get rent paid, food stamps, healthcare, and who knows what else they qualify for and our elderly try to scrape by. This system is so damn rigged it isn't funny!
Rant over.

North Dakota spends about $500,000,000 per biennium on nursing homes. How much does the state spend on those other things you mention?

 

[db-2]

The state must spend that much in this town along.
Yea I guess I did not get any this morning.
Wife see this she will again remind me of stress and the heart db

 

[Stan's Dad]

North Dakota spends about $500,000,000 per biennium on nursing homes. How much does the state spend on those other things you mention?

can you state your source please?

 

[deactivated]

can you state your source please?

A real conservative can find it. But here is a hint. Start with the state budget office website. Maybe look at the state HHS website as well.

 

[Stan's Dad]

A real conservative can find it. But here is a hint. Start with the state budget office website. Maybe look at the state HHS website as well.

Just asking ya putz. I couldnt find anything specifically stating nursing homes in my searches

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https://www.nd.gov/omb/sites/omb/fi...ate-budgets/docs/budget/appropbook2017-19.pdf

Still very interesting. I doubt many ever look at this info.

 

[deactivated]

Just asking ya putz. I couldnt find anything specifically stating nursing homes in my searches

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https://www.nd.gov/omb/sites/omb/fi...ate-budgets/docs/budget/appropbook2017-19.pdf

Still very interesting. I doubt many ever look at this info.

I didn't mean to hurt your feelings. Sorry. Haha