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Last post 4 weeks ago by 8trackdisco. 18 replies replies.
Long Term Care Insurance
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8trackdisco Offline
#1 Posted: Wed, Mar 27 2024, 7:21 PM EST
Joined: 11-06-2004
Posts: 60,078
Feeling my age the last 9 months. Heart stuff. RX Glasses. And now, Long Term Care Insuance is a consideration.

Don't know of any of us who are getting younger every day. Don't know what the median age of the fog group is. However, i'm guessing some of you have gone down the LTCI rabbit hole.

Pluses:
Peace of mind, while the body and mind start to fall to pieces.
You don't have to burden family members to sponge bath and change your diaper.

Minuses:
Expensive.
You drop dead suddenly, you paid a bunch of premiums for nothing.
If the LTCI company goes under, what happens to your money invested?

Easier decision is to retire with millions of dollars, have a sizable pension, and or a sugar daddy, momma, cousin, etc. But that's not me.

What do you know?

Other than 8track doesn't have millions of dollars, have a sizable pension, or a sugar daddy, momma, cousin, etc.
Gene363 Offline
#2 Posted: Wed, Mar 27 2024, 9:54 PM EST
Joined: 01-24-2003
Posts: 30,819
We have it though State Farm. At the time they had a good rep for this coverage. The price increases with age, but the sooner you start the lower the initial fee. Our policy pays for assistance in your home onward, you do not need to be totally dependent before they pay up to $200/day.
ZRX1200 Offline
#3 Posted: Wed, Mar 27 2024, 11:09 PM EST
Joined: 07-08-2007
Posts: 60,613
I recommend finding old rich broads to sex up.

Or try to find P Diddy video tapes so you can blackmail someone.
MACS Offline
#4 Posted: Thu, Mar 28 2024, 5:47 AM EST
Joined: 02-26-2004
Posts: 79,789
From the book of Matthew:

Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more than food, and the body more than clothes? Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Can any one of you by worrying add a single hour to your life?

Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.

We are not getting any younger, brother. And none of us knows how many minutes, hours or days we have left, or the means of our exit. Enjoy today, and don't worry (too much) about what is in store. Whatever you do is a gamble, as you know. I am not a gambler, but I tend to do what leaves money in my pocket.
deadeyedick Offline
#5 Posted: Thu, Mar 28 2024, 7:32 AM EST
Joined: 03-13-2003
Posts: 17,097
Either you pay for your care yourself as needed or you pay someone else more (on average) to pay for that care. I plan to be self insured.
8trackdisco Offline
#6 Posted: Thu, Mar 28 2024, 8:09 AM EST
Joined: 11-06-2004
Posts: 60,078
MACS wrote:
From the book of Matthew:

Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more than food, and the body more than clothes? Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Can any one of you by worrying add a single hour to your life?

Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.

We are not getting any younger, brother. And none of us knows how many minutes, hours or days we have left, or the means of our exit. Enjoy today, and don't worry (too much) about what is in store. Whatever you do is a gamble, as you know. I am not a gambler, but I tend to do what leaves money in my pocket.


Love where your heart is. Hard to argue and I don’t want a tussle with the Bible.
But we are all hypocrites. I believe in Him and the book.
My eyes have seen some grotesque Medicaid assisted living and rehab centers and nursing homes.
Have seen my father be unable to take care of himself for a decade and have seen the pressure fall onto my mother’s shoulders. The physical and mental toll was great.

And if you truly lived the words you posted, there wouldn’t have any self concern for your ticker, A1C, or any anxiety in your life at all.

Hope and pray for the best, plan for the worst is the plan- as of the moment.
8trackdisco Offline
#7 Posted: Thu, Mar 28 2024, 8:11 AM EST
Joined: 11-06-2004
Posts: 60,078
deadeyedick wrote:
Either you pay for your care yourself as needed or you pay someone else more (on average) to pay for that care. I plan to be self insured.


Totally understandable. Will not be able to self fund. Agree your overall plan is optimal.
rfenst Offline
#8 Posted: Thu, Mar 28 2024, 9:13 AM EST
Joined: 06-23-2007
Posts: 39,330
Gene363 wrote:
We have it though State Farm. At the time they had a good rep for this coverage. The price increases with age, but the sooner you start the lower the initial fee. Our policy pays for assistance in your home onward, you do not need to be totally dependent before they pay up to $200/day.


Snake Farm pays up? LOL!
KingoftheCove Offline
#9 Posted: Thu, Mar 28 2024, 9:24 AM EST
Joined: 10-08-2011
Posts: 7,633
I thought that’s what kids and grandkids are for….
Gene363 Offline
#10 Posted: Thu, Mar 28 2024, 9:55 AM EST
Joined: 01-24-2003
Posts: 30,819
rfenst wrote:
Snake Farm pays up? LOL!


I know. Anxious
DrMaddVibe Offline
#11 Posted: Thu, Mar 28 2024, 10:00 AM EST
Joined: 10-21-2000
Posts: 55,440
I dunno about you guys but I'm contacting Dr. Jill about eldercare.
MACS Offline
#12 Posted: Thu, Mar 28 2024, 11:23 AM EST
Joined: 02-26-2004
Posts: 79,789
I understand where your head's at. Hopefully you find an appropriate, affordable solution.

I'm just tryna be healthy so I can squeeze as many fishing days in as possible. Dude on the charter that's a regular is 81 and still pulling in big fish. Seems to be sharp as a tack, too.
RayR Offline
#13 Posted: Thu, Mar 28 2024, 11:30 AM EST
Joined: 07-20-2020
Posts: 8,892
DrMaddVibe wrote:
I dunno about you guys but I'm contacting Dr. Jill about eldercare.


I thought under Obamacare they would just kill you so you weren't a burden on duhmacracy.
8trackdisco Offline
#14 Posted: Thu, Mar 28 2024, 11:47 AM EST
Joined: 11-06-2004
Posts: 60,078
KingoftheCove wrote:
I thought that’s what kids and grandkids are for….


Well, fellow Boomer. I think those ships have sailed. Wasn’t like a couple generations ago when the grandparents moved in with the working peeps. YMMV.
Gene363 Offline
#15 Posted: Thu, Mar 28 2024, 1:07 PM EST
Joined: 01-24-2003
Posts: 30,819
KingoftheCove wrote:
I thought that’s what kids and grandkids are for….



8trackdisco wrote:
Well, fellow Boomer. I think those ships have sailed. Wasn’t like a couple generations ago when the grandparents moved in with the working peeps. YMMV.



True!

Maybe he could have added the: Sarcasm

We felt it was our responsibility to plan ahead and not burden our sons.
KingoftheCove Offline
#16 Posted: Thu, Mar 28 2024, 1:36 PM EST
Joined: 10-08-2011
Posts: 7,633
I was being sarcastic…………but only somewhat…
Old school values………you take care of family.

Back in the day, the elders still had value and contributed to the family unit (childcare, cooking, advice, life experience, etc.)
Much of that “lost” for many folks/families over a few generations, as families disintegrated due to societal influences, divorce, work, drugs, alcohol, you name it..
Gene363 Offline
#17 Posted: Thu, Mar 28 2024, 1:46 PM EST
Joined: 01-24-2003
Posts: 30,819
KingoftheCove wrote:
I was being sarcastic…………but only somewhat…
Old school values………you take care of family.

Back in the day, the elders still had value and contributed to the family unit (childcare, cooking, advice, life experience, etc.)
Much of that “lost” for many folks/families over a few generations, as families disintegrated due to societal influences, divorce, work, drugs, alcohol, you name it..


True.

8trackdisco Offline
#18 Posted: Thu, Mar 28 2024, 3:39 PM EST
Joined: 11-06-2004
Posts: 60,078
KingoftheCove wrote:
as families disintegrated due to societal influences, divorce, work, drugs, alcohol, you name it..


…… don’t forget Covid and Politics.
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