Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

Serious question. How can we say we are proud to be Americans with this kind of highway robbery? I don't care what illness someone has. $7k per week is simply a shame.

This then beg the question, if someone at some point has to pay this much, how can a yearly salary under $1 million be a good salary?

We are royalty f*&#d

the 7=9K HAS to be in home care, and that is a choice and is typically much more than a facility

But what do you expect? with 24 hour care that 7-9K is $42-53/hour. If you want quality care and care that shows up that is what you pay. Given that there is likely a management company running the agency who is sending the care givers, the care givers are likely only getting $25/hr with the agency getting the rest to pay for overhead, managing and scheduling the care and INSURANCE.

I wouldn't want to be a caregiver for $25-30/hr, no way in hell. So not sure what you expect. If you need/want 1-1 care 24/7 that is reasonable costs

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

Serious question. How can we say we are proud to be Americans with this kind of highway robbery? I don't care what illness someone has. $7k per week is simply a shame.

This then beg the question, if someone at some point has to pay this much, how can a yearly salary under $1 million be a good salary?

We are royalty f*&#d

Average lifespan of a nursing facility patient is 13.7 months, and 53% die within 6 months. It is a crazy amount, but based on fairly short life expectancies once someone enters the facility.

I get the averages, but I'd plan for a bit more. I've watched one relative live already 2.5 years in nursing care (they are 90 now) and still going strong, mentally still there, so it could be 1 month or several years.
Another just spent 7 years in Memory care, and could have lasted longer if they had not gotten the flu (otherwise they were still doing well considering the circumstances).
So I'd plan for 2-3 years in advanced care at least. Don't want to be a burden on our kids

We were surprised that we had to get private aids for my Dad when he was in skilled nursing. The cost was astounding . He did not live too long sadly

Anonymous wrote:

Anonymous wrote:I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

Serious question. How can we say we are proud to be Americans with this kind of highway robbery? I don't care what illness someone has. $7k per week is simply a shame.

This then beg the question, if someone at some point has to pay this much, how can a yearly salary under $1 million be a good salary?

We are royalty f*&#d

Agreed, but very very few people pay amounts like this for a significant amount of time. Very few people require this level of care, and most of those are either very near death, or not in a care facility.

But yes the entire system of American health care costs, insurance, facilities, etc is so so deeply f-----ed. Be glad you are in a major metro area. If you lived in a rural area your hospital or care home probably just closed, or is going to shortly.

Anonymous wrote:

Anonymous wrote:I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

Serious question. How can we say we are proud to be Americans with this kind of highway robbery? I don't care what illness someone has. $7k per week is simply a shame.

This then beg the question, if someone at some point has to pay this much, how can a yearly salary under $1 million be a good salary?

We are royalty f*&#d

the 7=9K HAS to be in home care, and that is a choice and is typically much more than a facility

Anonymous wrote:

Anonymous wrote:I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

Serious question. How can we say we are proud to be Americans with this kind of highway robbery? I don't care what illness someone has. $7k per week is simply a shame.

This then beg the question, if someone at some point has to pay this much, how can a yearly salary under $1 million be a good salary?

We are royalty f*&#d

Average lifespan of a nursing facility patient is 13.7 months, and 53% die within 6 months. It is a crazy amount, but based on fairly short life expectancies once someone enters the facility.

Anonymous wrote:I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

Why not put your mom in a facility? You can get into a great one for under $15K per month, and if you look/depending upon diagnosis/needs $12K

Anonymous wrote:

Anonymous wrote:I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

That's an insane amount- I have heard up to $150k/year for a nursing home, not $400k. What sort of care is required? How long has it been at that level?

DP...but depends on your parent's diagnosis and what the facility claims is needed. My father with dementia was in a facility that charged like $20k/month, but because he could physically stand (and then potentially fall), the facility was requiring an aide for like 12 hours per day who did nothing but make sure he never stood up. That cost another $15k per month. Frustrating, but he had the money...and he ended up passing within 60 days of their requiring the aide.

Nursing is more expensive than senior living...which is maybe what you are thinking when you say $150k/year. He also had LTC that he arranged when he was much younger and it paid out like $100k/year.

Anonymous wrote:I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

Serious question. How can we say we are proud to be Americans with this kind of highway robbery? I don't care what illness someone has. $7k per week is simply a shame.

This then beg the question, if someone at some point has to pay this much, how can a yearly salary under $1 million be a good salary?

We are royalty f*&#d

Anonymous wrote:I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

That's an insane amount- I have heard up to $150k/year for a nursing home, not $400k. What sort of care is required? How long has it been at that level?

I tried to get it but an obscure non-verified diagnosis five years ago DQ’d me. It was a hybrid plan- $126k cost for nine years of coverage starting around $6k a month with a COLA. It would have paid out over $1.4 million if the entire thing was used.

Needless to say I now have to self insure. My mom’s care is roughly $7-9k a week at this point.

The general advice in 2025 is that the currently available plans are rarely worth it, because the max payouts are so low compared to actual projected costs. This is because the previous plans were too generous and the companies lost a ton of money on them as costs have skyrocketed.

We decided it wasn't worth it. We have meds, diagnoses that are pretty common but the price and daily payout was not a winner.

The most common policy would be about $3000 a year for a $165,000 pay out. They would get you about a year in a nursing home for one individual. Not much but something.
That payment goes up if you are not in perfect health (no meds or diagnoses) and have no one in your extended family with any diagnoses of cancer, heart disease, dementia.
They may refuse to insure you at all.

Wife and husband both in mid-fifties, generally healthy, roughly 800,000 in retirement savings plus one income-generating condo that's almost paid off, and a house that we live in that won't be paid off for another 20 years. We both plan to work in some capacity until we drop dead but of course that's hard to count on. So... should we get long-term care insurance in case one of us is incapacitated? I don't have the temperament to be a full-time nurse to my spouse and I don't want anyone else burdened with my care. We live in the DMV and have two adult kids. We already get long-term disability insurance through our employer (but that benefit only lasts five years.)