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SVTPerformance's Chain of Restaurants
Road Side Pub
Assisted/Long-term Care Insurance
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<blockquote data-quote="Klaus" data-source="post: 16961037" data-attributes="member: 190070"><p>I do not have anything to add on the personal finance question aspect but I just went through this with my step mom, father and aunt. </p><p></p><p>I brought in HHA for my step mom. Her LT insurance paid 200 a day. HHAs were 400 a day. The way it works is you pay and LT insurance reimburses you. </p><p></p><p>My Aunt is now in a memory care facility. I am working on getting her LT insurance covered. I forget what the term is but there is a period before it kicks in. Usually it is 90 days. It takes a while for the assessment to occur. They seem to drag this out as long as possible. </p><p></p><p>I expect my Aunt's to cover 2k a month. I am stroking 10k a month right now for her care. </p><p></p><p>One thing to keep in mind is that once you are in a facility they will not kick you out. If you run out of money they will get paid from the government and/or charity. </p><p></p><p>With my Aunt I am going to carve her out and turn over her remaining assets to the facility. They will fund from that until it runs out and then rely on government. I have an in law that had a farm that was probably worth $1m which he gave to his nephew and then the govt paid for his nursing home because he was broke.</p></blockquote><p></p>
[QUOTE="Klaus, post: 16961037, member: 190070"] I do not have anything to add on the personal finance question aspect but I just went through this with my step mom, father and aunt. I brought in HHA for my step mom. Her LT insurance paid 200 a day. HHAs were 400 a day. The way it works is you pay and LT insurance reimburses you. My Aunt is now in a memory care facility. I am working on getting her LT insurance covered. I forget what the term is but there is a period before it kicks in. Usually it is 90 days. It takes a while for the assessment to occur. They seem to drag this out as long as possible. I expect my Aunt's to cover 2k a month. I am stroking 10k a month right now for her care. One thing to keep in mind is that once you are in a facility they will not kick you out. If you run out of money they will get paid from the government and/or charity. With my Aunt I am going to carve her out and turn over her remaining assets to the facility. They will fund from that until it runs out and then rely on government. I have an in law that had a farm that was probably worth $1m which he gave to his nephew and then the govt paid for his nursing home because he was broke. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Assisted/Long-term Care Insurance
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