Long term health care

Get LTC insurance as soon as you can afford it, especially if you are nearing 60-65 since you are nearing a time when you are getting into a high risk area for strokes, etc. and may need increased health care assistance. It is near impossible to obtain it once you have had any type of event or occurrence that puts you in a care facility even if it’s for short term rehabilitation at a long term facility. Do it while you can pass the requirements to obtain it. Considering the monthly cost of a double occupancy room in a nice safe care facility can run as much as 4500-6500 these , it may well be worth it!

My MiL was diagnosed with Parkinson’s so couldn’t get insurance and they are paying an astronomical amount of money for care.

I got mine when I was in my early 30's or so. It was offered by my Company. I still have it and my financial advisor said don't let it lapse because my premiums are really low. At one point, the company allowed family members to get on the company plan, and I checked to see how much it would cost for my parents. They were in their mid to late 60's and it was just too expensive for them. So my advice, for those young-uns out there, get it while you are young. You may not be thinking that far ahead, but the younger you are the cheaper it is.

I had such a bad experience with LTC insurance I don't know if I'll ever buy a policy. My Dad bought one and paid it for YEARS, something like 20-25 years. When he tried to use it, it was a frigging nightmare. NIGHTMARE. He spent 3 years trying to get them to pay and ended up dying before they paid a red cent.

We sold my parent's house to pay for their care. My dad requires 24/7 care at a rate of $13,000 per month. My mom is currently in assisted living at a cost of $3500 per month.

I have one brother who still thinks we didn't need to sell their house! He all but called me a liar about the cost.

my dad paid in for 25 yrs.. died at 95, never used the insurance, was only in care for about 3 weeks.

my mother in law just died.. her care home (not too much in extra supports) was $7000 a month.

I think put the monthly money aside for a contingency fund.

Honestly this is me - I've watched multiple family members dealing with Alzheimer's and late stage incurable cancer - I have zero interest in going through that or having my family go through it. I don't care if it's morbid, our desire to drag out the later stages of life and death is just wrong imo. 

cash. cold, hard cash. too late to get insurance at this age so it will have to involve paying out of pocket. let's just say that some people may not wind up inheriting as much, if any, if that money is needed for care.

Yes, I did consider this. Maybe I'll take a massive dose of something just before tipping over the edge. *Sigh*
I really don't fear dying, but I do fear living too long and being incapacitated.
I know that's not everyone's choice and I'm not here to judge the quality of life for someone else, but the thought of ending up in LTC is so depressing to me.

I hope I can remain sharp and active up until the end. A nice massive heart attack or PE just after returning home from a lovely vacation, perhaps. Instead I'll probably have a stroke and spend 10 bitter years unable to move , like my grandpa.

ugh, you and me both.  but the reality is that not everyone dies quickly or on their timeline.  i think everyone (patient and family) fear the pain and sadness of a long lingering before death.  not to mention the possible crushing financial effects. 

i want the laws to evolve to give a broader choice of who can end their lives sooner.  the parameters are just too narrow right now although i am grateful to even have such some laws available in my state and the state i will eventually retire in. the eligibility just isn't broad enough.  if the health community's mission is "do no harm" then that should include not prolonging life if the patient doesn't want it.

My Dad and Stepmom paid for LTC insurance for a very long time. This fall they actually needed to use it when my Dad broke his hip, and spent time in a rehab center and then a residential care facility. We are talking two months here.

My Stepmom spent whole days on the phone with the insurance company, relentlessly and persistently insisting that they honor their contract. They fought her for months, while she and I were taking turns keeping Dad company in the facilities and encouraging him.

If she had not had all her documents at the ready, a mind as sharp as a tack, and the willingness to fight like mad and not give up, that company would not have paid anything. As it was, they acted like they were doing her a favor to cover half of the cost of the two months costs.