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Reply to "The insane cost of elder care"
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[quote=Anonymous]It’s awful. We went through this with my mother who had dementia, and it was about $7000 per month in their low cost of living state (my dad’s pension would have disqualified them from Medicaid even if we had spent down their remaining assets early enough). I contributed about $1500 and my dad floated the rest. Not sure what we would have done if we’d needed more than 2 years’ care but she passed away before my dad depleted their retirement savings. LTC insurance doesn’t really cover this level of expense, if my inlaws’ policies are representative, but would help partially offset the cost. [/quote]
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