Reply to I didn't fully comprehend the cost of eldercare

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yeah what do families do when the money runs out?

The next generation goes into debt?[/quote]

The elderly person goes on Medicaid and into a Medicaid bed in a nursing home.[/quote]

I really doubt this system will continue as is, with the cuts from current administration. Only a portion of homes are Medicaid beds anyway. 
Nursing homes are also exorbitant. The whole system is ridiculous - so very expensive, with little quality of life. [/quote]

Right, so they move in with family i guess. Or they dont get the proper care they need. I dont honestly know what we will do, hence needing to have a convo with him. I assume he thinks he wont live long but who knows.

But while I love my dad, I dont think I can sacrafice my kids college or needs to pour all my money to my dad. At least he made it to 90 before he needed any care. I

Does LTC insurance help with this? I keep hearing such mixed reviews. [/quote]

LTC helps, but it depends what you purchased.  My parents each have a plan they will get $250/day for up to 4 years.  But it depends if you plan is solvent when you need it (many go under)
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