I think there are only like 5 or 6 insurers left in the country that sell LTC, no?
The ones I've seen haven't looked appealing. Low lifetime caps, etc. Nothing like the policies that were available twenty+ years ago.
Long-term care insurance
- Thread starter BradStevens
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I think there are only like 5 or 6 insurers left in the country that sell LTC, no?
The ones I've seen haven't looked appealing. Low lifetime caps, etc. Nothing like the policies that were available twenty+ years ago.
Well, you are right about the policy reductions over the years. But the policies have changed to allow for a death benefit in the policy goes unused. These hybrid type of policies make up about 95% of all policies sold. The traditional use it or lose it policy is all but gone.
And lifetime benefits are rare and usually unnecessary as the average need by a person is less than 3 years.
I mean, we have limited resources as a society and end-of-life care is very expensive. It doesn't make sense to prolong everyone's life to the maximum of today's medical ability, damn the costs. This is what the infamous death panels were about and while effective politics, it was stupid to question them. Every govt system has to draw a line somewhere.
If you have your own money, though, I guess you do what you want.
Agreed, but I'd rather it be normalized as a part of society, rather than foisted upon people who bought the wrong insurance.
Well, they are. Until they are not, of course. It's insurance, so each person can choose the amount of coverage they want, need, or can afford. Just like with any insurance.
But to answer your original question, it depends on the planning, the assets, and priorities. There is no one singular answer.
So, for the greater good, kill the old people? You know, some studies show, IIRC, dementia tripling in the next 30 years. It'll be interesting to see how we handle that.
No. No Obama plan was going to "kill the old people" and that's not what I wrote or was responding to.
Of course, under the private marketplace, old people die all the time from not enough money to afford care they might need, right? Isn't that what people try to insure against? Is that system tantamount to "kill[ing] the old people?"
Sorry, my response was meant for Goat. My bad.
But to respond to your marketplace question, I don't know how many people are told they will not be treated because of money. I'm not privy to that data, but I am sure it happens.
There are no simple answers, and some would say we should "ration" care to keep costs lower and help those who truly can benefit. I am not ready to implement such a system. Especially when we haven't even discussed our food/ag system since RFK made it an issue.
No debate questions about how to get us to be a healthier nation. But tons on how to keep abortion rolling.
If I get dementia, the minute I don’t recognize family and I am wondering around aimlessly, I would want to be humanely put to death immediately.
Family, friends and clients I’ve interacted with who have a family member with late stages of dementia, it isn’t hard for them to figure out.
I guess smart attorneys and doctors have to come up with a legal standard.
We can abort babies, surely there’s a way I can choose to be aborted.
So you would ask your family to put you to sleep if they noticed you could not remember them? Tough burden to put on them, don't you think? You want that burden put on you for your mother, wife?
I am doing poor job espousing my thoughts on this.
I do know in my experience, it’s not hard to figure out when a person is a walking zombie. I’ve watched it destroy the caregiver. I don’t ever want to put my wife through that.
Then get LTC because your wife doesn't want to die. Or plan to protect assets so she can live comfortably while you get care. Or maybe you can afford to self pay. But she's not going to put you down. I've been dealing with these exact situations for 25 years and it happened with my grandmother. No matter how bad you get, nobody wants to be the one to decide to stop the care.
Maybe I am misunderstanding you, though.
If you go that route, ribbont is probably right, you can't expect them to make that decision for you that late.
You have to do it yourself earlier than total dementia.
What I am thinking of is like a living will. I want to add to the document to put me down if I am incapacitated with dementia.
I am not wanting to take anyone’s life. I want to be able to direct my family and Doctors to put me down at a certain stage of dementia if I ever get it.
Add an assisted suicide clause for dementia? Not sure that is possible anywhere. I'm not an estates guy, though.
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Read CNN's Fast Facts on physician-assisted suicide.
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I doubt it’s possible right now. I would like for it to become possible.Add an assisted suicide clause for dementia? Not sure that is possible anywhere. I'm not an estates guy, though.
Physician-Assisted Suicide Fast Facts
Read CNN's Fast Facts on physician-assisted suicide.
I had husband and wife come in for their tax appointment from the first day I started by business. They didn’t need an appointment but I allowed it. The wife got Alzheimers. Eventually the husband had to place her in a nursing home. He drove himself almost crazy. He worried she had a tooth ache and couldn’t tell him. Therefore, he’d periodically make a dentist appointment for her. His health deteriorated every day because of stress and worry for her. Eventually she passed but he looks like hell. I feel so sorry for him every time I see him.
Dementia is a double edge sword for the caring spouse.
You want to stay mentally and physically healthy in order to take care of the affected spouse. But the caring takes a toll on your health.
