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[quote=Anonymous]Read your mom's LTC policy. There are usually daily limits that it covers as well as a lifetime limit and often can be used for in home care as well as facilities. Since their housing is more or less taken care of, in home care would be ideal. If they both end up needing very expensive care, then they spend down their assets (which doesn't sound like much) and hope for Medicaid. Since they do not own property, there's no need for a Medicaid trust.

As for what it costs--it really depends. Assisted living can run 5-8k month or more; memory care 9-12k on average in this area. Nursing home care may be paid for by Medicare, depending on situation. MEdicare will cover necessary medical costs, but not housing (so rehab will be limited). Hospice care is usually covered fully (but again that's services not room/board)

Your best hope is that they continue to age in place and if anyone needs in home care, its your mom. I have my mom in memory care now, but my stepsister had her mom in her own condo (similar to your situation) and found a community of caregivers who rotated and cost about 22/hr (this was not via agency but off books).[/quote]

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