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[quote=Anonymous]New to this forum. I am 51 and parents are both in their 80s. They have outlived both of their parents. Despite any number of ailments, the seem to be in reasonably good health at this point in time.  My mom has long-term-care insurance. My father does not and cannot qualify. They have very limited financial resources.

After paying for many years of private school for our kids they will soon be in college and I am beginning to see the light at the end of this tunnel financially.  Now I find myself wondering what the expenses will be for my parents as they age and if I'll ever be able to retire.

Does LTC insurance cover assisted living?  Does Medicaid?  What will happen if my father doesn't need skilled nursing but needs assisted living? Is this something people pay out of pocket?  I did a lot of research on Medicaid and the spend down several years ago and tried to discuss putting together a strategy with my parents and they wouldn't listen.  They say they "don't want to be a burden."  Both of their parents died at an earlier age and were financially secure so they never had to rely on my parents for financial help or care.

I know every situation is different and i'm just scratching the surface here but is there a way to gage what I might be facing in terms of financial commitment moving into the next 10 years?[/quote]

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