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Reply to "Long term care insurance? "
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[quote=Anonymous]We bought LTCi for the same reason you are looking at it. We had to pay out of pocket for care for family member which is hugely expensive. We bought plans for each of us that cover $200/day inflation adjusted for up to 3 years--in home or in a nursing home. Right now that is about 1/2 day of help. You also have to qualify to get the help, which I think it meeting X number of the 5 qualifying factors. Can't feed, bathe, walk.... You also have to wait 90 days to qualify, but generally MediCARE covers 90 days in rehab facility after surgery. For something like Alzheimers I think you just have to pay out of pocket until you meet the 90 days. A lot of people say you are better off self-insuring. It's just that most people can't afford to pay. We are hedging our bets and insuring for 1/2 day and self insure for the remainder. [/quote]
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