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]I just don't understand how anyone except the super wealthy can afford even $10k month. Where are all the old poor people living that doesn't have family?[/quote]

medicaid nursing homes. typically it’s more of an issue of if you have always been poor/don’t have family who can help, it’s not really a question and you are automatically put in a medicare nursing home. in a lot of ways, it’s the very poor and very wealthy that do ok at the end of life. It’s everyone in between that struggles.

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Op here, I just had the convo with my MIL she has a pension which makes this all more complicated. Not enough to pay 30k a month but too much for medicaid. I guess we create a certain type of trust and put it all in their to essentially save it for the state when she dies. It's a state pension so all sort of ridiculous. [/quote]

We have an elderly aunt on medicaid (luckily in a nice place).  Medicaid pays the difference (minus $45) between the nursing home cost and her pension and SS.  She can't have more than 2k in the bank.[/quote]

Oh interesting. Will have to look into that. Probably something that varies by state. She gets 60k a year in a pension..[/quote]

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