Yep. Seriously, I'm kind of aghast at how much it costs for my FIL's memory care. We knew it would be expensive, but I don't think the general populace understands how much it is. And only the wealthy can afford it. He doesn't have LTC because it is simply not that common and no one things about it.Diggity said:YouBet said:If you are talking about LTC, I'm not sure. That's why I'm saying people need to factor that as more insurance to get for later in life. People are living way longer these days and Medicare won't cover what you need in this space.Diggity said:
Good idea, but who's going to pay for it?
There have been a few elected folks who have brought this up as the next welfare push because we are about to have millions of Boomers in a pickle because they have no way to fund what they are going to need.
Not sure what the answer is other than budgeting for it. I'd rather have insurance and cover it on my own than lean on the government plopping me in some LTC facility run by them.
Totally agree. Individuals should think of LTC as required "insurance" but sadly most won't be able to afford it.
In the end, it will be like seemingly everything else in healthy, the "wealthy" and poor folks will be fine and the middle class will be screwed.
It's $8-10K per month depending on the facility and service.
edit: Sorry I hijacked thread!