2 ms·
Not sold on LTC. That’s great if your goal is to live in a facility some day. But hopefully I never have to. Can downgrade from big house to maybe a smaller con
by brianwawok 8y ago
Not sold on LTC. That’s great if your goal is to live in a facility some day. But hopefully I never have to. Can downgrade from big house to maybe a smaller condo over time. Take care of myself so hopefully will end up OK.
If not? I get checked into the same home as a LTC user with Medicare. I pay for it until I am broke, then Medicare takes over.
I really don’t see the upside. In the case I have a large estate and need LTC, the LTC insurance protects my estate so I can pass more of it on. But as not a huge fan of generational wealth, I see no benefit to me or the world to buy LTC insurance. In fact, less money to enjoy now or grow my estate.
- trixie_ 8y agoMedicare won’t pay for assisted living, but you can use your social security money towards it. If you can’t pay, and you can’t take care of yourself then Medicaid kicks in, your social security gets taken and you go to a nusing home.
- brianwawok 8y agoYah so at that point you are living out your days in a home. So not seeing how the long term care insurance mattered.