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[quote=Anonymous][quote=Anonymous][quote=Anonymous]or the cost of a home health aide?[/quote]

Disability insurance provides cash which you can spend on long term care. Many life insurance policies permit acceleration of the death benefit in the case of terminal or chronic illness, which you can spend on long term care.  Some life insurance policies have long term care benefits. Plus there’s that million dollars. Why would you need Medicaid?[/quote]

I am in this situation - disabled spouse, kids, working spouse.

Disability insurance provides income replacement, which a family with kids still needs. 
It's 30% of my spouses former salary. We use that money to pay our bills.
My income as well of course, but I never earned as much as he did before he got ill.
Our income also pays for home health aides for him, about $40,000 a year. 
As long as he doesn't need full time care, we should be OK paying it out of my salary and his disability payments.

But there's no more savings ability anymore. We're just barely covering our bills as it is.

If he starts needing 24-7 care (that happens with dementia or motor neuron disease) and either needs full time aides, or a nursing home, that's where the costs really skyrocket. It would be about $120,000 a year or so and that's when you start to wipe our that $1 million retirement savings, that is supposed to be MY retirement, too. It wasn't just for one of us.

Many people who need long term care or a home health aide full time just need it for a few months to a year, but when they live longer but still need a lot of care, that's when they start to burn up the assets that were supposed to provide for both partners in their older years.

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