Long Term Care Insurance?

[pmbevac]

I'm curious if anyone has any experience with long term care insurance. Presumably this would cover in-home assistance, or if you require moving to an assisted living facility if your disability warranted such care. My mother-in-law had MS, was basically and invalid and living in an assisted care home. Being on Medicare she had to use up her financial assets before Medicare would kick in.

I don't want to put my wife & I in that position should my MS require such care so was curious if anyone has any experience in these policies.

[Kenu]

My father in law took out a policy twenty years ago for this purpose and last year he went to use it and it didn’t cover anything more than his Medicare and supplement 🤬. He paid $150.00 a month and refund him $300.00 after twenty years 🤬. Be careful what you buy and stipulations it may have? I had purchased it thru my work and it was $25.00 a month and have been drawing it for over three years and it pays $132.00 a month? Should have bought a better policy but didn’t know anything about them really. I have had a couple friends get divorced and let there spouse get everything and live together. When he had to go into a assisted living he used his SSDI and Medicaid to cover bills. His wife was able to keep the house, cars, etc. Worked for them. Good Luck and let us know how it goes? Ken 🐾🐾👍

[IFwczs]

I didn't realize long term care insurance was a scam. I have UNUM, bought it through work long before I even knew I had MS. I was told to pre-pay for whatever, then file a claim.

[mrsmike9]

My dad had that for my mom. He died in 2002 and I think he would have been horrified at how much he put in and how little it covered. In home care was SO expensive and so is the nursing home she's in now. The policy has long been used up and now my dad's investments are covering her costs.

I would say to get the most trustworthy financial adviser you can find and take whatever money you would have been putting toward a policy and invest it instead.

[CalfeeChick CommunityAmbassador]

This is a little different, I paid for long tern "Disability Ins." through my employer for 22 yrs and was eventually put onto permanent disability because of the arthritis in my spine hands and major joints. It payed 2/3 of my monthly salary + I had SSI to cover the difference. At 18 months, they quit paying and said I wasn't disabled enough for future payments. I was stunned because of anything, my disability had worsened. I had my GP, Rheumatologist, and Orthopedic doctors statements and hired an attorney. We went through, county, State, District 9 Federal Appeals court and they were 5 steps ahead of us at any court date. Had their own docs said I wasn't disabled enough and they'd never even examined me!! My Attorney couldn't even believe the negative responses. He reduced my fee greatly and we both learned you can win against a "Rigged" system which I did point out to each Judge & court because The Insurance's Main offices were in a huge building in Seattle which just happened to also be the main offices of the legal corporation the was against me from the start. They had all of my employee Records, knew when I used sick time or vacation time. Even merit reviews as I worked my way up from a temporary employee to a dept. Supervisor. If I had to do it all over again, I would of just invested the money into CD's or some other Interest earning accounts!

[eharoot]

I was turned down for it several years ago

[RobertCalifornia]

Both my mother and mother in law had long term care insurance. Both termed out. My mother in law’s insurance paid out $500,000.00 before it termed out she lasted several years longer. She did stay and die in her house of 50 years. Both my wife and I have long term care insurance forum Farmers Insurance. No limit and an inflation clause that increases the daily amount of insurance payment. If you can get it get it ASAP as it will be cheaper. I did buy my before myMS diagnosis.

[Irishgirl76]

My name is Pat with primary MS. There are many challenges during and after diagnosis. During employment, health insurance, MS symptoms the healthcare system lacked knowledge in some locations. Be careful to keep medical records and each provider needs to discuss your unique situation. Try to find health advocates for your needs. Medicare advocates/ elder care near you. Take each step aware of options before you move to next step. Trust yourself and just be patient with resources. MS has many and local. One step at a time! Peace ☮️