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Don't get old and sick!

Discussion in 'Non-Vegas Chat' started by Joe, Mar 30, 2017.

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  1. Joe

    Joe VIP Whale

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    My sister in law (82) has been in a nursing home for over a year. btw, Medicare doesn't cover that. $$$$$ So it has been all out of pocket, unless you bought long term care insurance. They didn't and it is costing $100,000+ per year.

    Now my brother, (79) her husband, is being transferred to the same facility for rehab after a bout of serious problems. They'll be in the same building, just in different wings. Medicare covers rehab, but only for 100 days, I think.

    The costs of these things is just frightening. The experts warn about not saving enough for retirement. You have to consider the costs of long term care in those calculations.
     
    • Informative Informative x 1
  2. daveg000

    daveg000 VIP Whale

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    The key Joe, is to get your property and money over to your heirs, then let Medicaid take care of it. They STILL could be transferring cash gifts to their family.
     
  3. TIMSPEED

    TIMSPEED The biggest Degenerate on VMB

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    No, it's not don't get old and sick..it's "don't be poor"
    Or avoid it all together and be young and wealthyx and die at 60.
     
    • Agree Agree x 1
  4. TrewBrew

    TrewBrew I may be right, I may be Crazy.

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    The cost is frightening and the quality of care can be just as bad. My wife's Grandmother, she just turned 98 this month, was in one (assisted living) where she was paying $5200 a month and the care was awful. Now she is getting more care at place for $6000 a month that is not much better.

    We are 52 years old and I don't want to know what it will cost for us when the time comes. More specifically my wife she's got the longevity on her side her grandfather on the other side lived to 101.
     
    Fall Spectacular...
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  5. marksind

    marksind VIP Whale

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    I often think of the stories of old folks lying in their soiled beds with festering bed sores when I walk through a nearby neighborhood. One of the palatial homes is owned by a guy who heads a regional assisted living company. He loves to keep a couple of million dollars of exotic cars in his driveway, seemingly to showcase them. It's a rotating display, which makes me wonder how many he's got.
     
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  6. The Rumor

    The Rumor VIP Whale

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    some people would prefer not to be in a Medicaid bed

    There is a gift lookback period FYI - you can't just dump the money to your kids and suddenly be poor
     
    Return to Greatness
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  7. Lovegas95

    Lovegas95 High-Roller

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    This is indeed scary! Once upon a time, I provided a service to the residents of these places. In many cases you could smell the piss in the parking lot. :grrr: In others, it was as clear as night and day which facility you'd choose to live in if given the choice. Either way, I do not look forward to the possible reality of having to live out my final years/days in a rest home. I hope to go out in a blaze of glory and die doing something I love! (Either having sex with the wife, coronary after hitting a massive handpay or jackpot, you get where I'm going with this?) :angel:
    The moral of this story is: be nice to your kids if you haven't prepared well for old age!
     
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  8. AbFab

    AbFab Low-Roller

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    Nahhh I used to say that too....until I had back surgery this year and I'm 36. More like don't get unlucky in life health wise.
     
  9. bubbakitty

    bubbakitty Doing retirement again and happily so....

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    It is true. Went thru it with my mom. Although there is a thing"
    For vets and their spouses which will supplement. And I don't recall the program but google "assistance veterans assisted living" or something close to it. We didn't make it long enough but she was a marine in the ww2 and was eligible for 2400$ a month. Not sure if it was credits or a check as we didn't pursue
    In time.
    I don't want to go and exist. I would rather go to the next without a quality life. So I know a guy who knows a guy and that is that.
     
    It can’t be a rodeo without the bull
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  10. donfairplay

    donfairplay High-Roller

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    LTC insurance is massively expensive now. It was expensive before, and attainable only by pretty high income earners, but the insurers miscalculated their risk and are shelling out more than ever because they underestimated costs and usage rates. They're making up for it by charging more to new customers, and raising premiums on people who are essentially 'pot stuck' after paying a decade or two of premiums without using it yet.
     
  11. Tahoejoe2

    Tahoejoe2 VIP Whale

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    It is called Aid and Attendance. The VA will give you around $1800 max per month. It is also good for your spouse if the vet passes. Call your VA office.
    This is for vets needing assistance, not all vets.
     
    Super Bowl baby
  12. jgates8

    jgates8 VIP Whale

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    Pretty sure in Wisconsin now you can't even give it to your kids any more. Have to prove they paid you fair market value for it. They added some little add-ons a few years ago to make it a lot harder to give away any assets to protect them. Can't remember the exact details as there isn't much we need to worry about protecting.

    I'm going thru this right now on a temporary basis due to an injury mom encountered. It's a nightmare. I received another nasty letter from the nursing home today saying if we didn't pay the amount of her SS less her health insurance premiums & $45 for personal (for each month) in 10 days they might force her out or file collections on her. (We are in month three of the whole procedure). We are still waiting to find out IF Medicaid will pay anything and social services said to wait until we got a total that medicaid would pay (they say home expenses - heat, lights, insurance, vehicle etc can also be deducted so we need to wait for a total). But nursing home is stating they want it NOW.
     
  13. Hoofy7

    Hoofy7 VIP Whale

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    We just moved my MIL into a community/assisted living set up for Masonic members and families near Harrisburg. It's like the freaking Notre Dame campus. Restaurants, tunnels that take you to different areas so you aren't exposed to the elements. Meals every day. She has Alzheimer's, but absolutely loves the place. Freedom and care all in one package.
     
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