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Reply to "Long term care insurance"
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[quote=Anonymous]I think it’s very unlikely that the policies available today will be of much use to anyone, since they’re both expensive, subject to premium increases and limited in benefit. My mom had a long term care policy and it took quite a bit of wrangling to get it set up for claims when she moved to assisted living. Then she only lasted a few months. On the other hand my father is indigent and in a Medicaid facility, he’s been there for several years and no end in sight. While it’s a decent facility, it’s nothing like the nice one my mom was able to afford. You just never know. I have an old group policy from a long-ago employer that inflation protection, premium increase caps (limited to 10% because it was issued in DC and that’s all the regulator allows) and has a paid-in-full feature at 65. Meaning only a couple more years of premiums, then I’m done. I have very few bills on autopay but this is one of them.[/quote]
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