Cohousing-L Mailing List: Re: Long Term Care (LTC) Insurance - What are your facts?

[Sharon Villines (sharon]

> On Dec 7, 2015, at 7:44 PM, Kathryn McCamant <kmccamant [at] 
> COHOUSING-SOLUTIONS.COM> wrote:
> 
> My understanding that Long Term Care Insurance is one of the
> only sources of funds to cover ³in home² careŠwhich is what we hope to be
> able to use to stay in our communities.

This a very complicated subject. Some states have excellent programs for 
helping people stay in their homes. I would start there. And check local 
hospital home nursing programs.

Even though all of her children had moved away, we left our mother in Iowa 
because it had the best care we or she could afford. She had a lovely 
apartment, nurses visiting every two weeks to put out her meds (all those pill 
cases), food delivered, pedicure/manicure and haircut, housecleaning, a medical 
shuttle for doctor’s appts. (All paid for by the state, Medicare, Medicaid, 
whatever. My brother handled those details.)

A few years ago when I investigated long term care insurance, it was clear that 
it was not helpful unless you were very rich and had an excellent policy. Many 
had a million loopholes and didn’t cover even a fraction of what care would 
really cost. One financial planner said they can do more harm than good because 
if you have it its enough income to disqualify you for federal programs.

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org