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    • CommentAuthorjoyfh
    • CommentTimeJun 10th 2008
     
    Gee I hate to see this happen but I just might and I would like to be prepared and see how much money it will cost me to have this long term care insurance..does any one have any of this? I know medicare will only pay for like 100 days or so..we both are under medicare and tri-care for life...George seems to be getting worse and I just need help...JOY
    • CommentAuthorJane*
    • CommentTimeJun 10th 2008
     
    ok joyfh here comes my two cents worth and its not pretty.
    First of Medicare will only pay the 100 day IF and I do mean IF the patient is needing rehabilative services or skilled care at the NH. Most patients do not require this type care much beyond the 20 days and even then when it is an Alzheimer patient some will say that even Physical is not going to cover it because the patient can't be rehabilated. I think this is so unfair. I was talking to my sister about just that same subject yesterday.

    I told her most likely if we do end up having to place my husband we won't even qualify for the 20 days because he is on Hospice and of course won't even be taken to the hospital much less have a skilled care need that Medicare would cover.

    When the patient does qualify for the NH 20 or 100 day coverage they first have to have been in a Hospital for at least 3 days. They have us anyway you go at it.

    If you take your husband straight to a NH from your home without the above qualifications having been met then you will most likely have to pay around $5,000 per month plus medications out of pocket until you can get Medicaid started. When getting Medicaid started the earliest you will get it is 45 days, of course it would be retroactive but still what if it takes longer than the 45 days for them to go through your paper work, you have to pay in the meantime.

    Most people just take for granted they will have that 100 day period and this is simply just not so.

    Jane
  1.  
    Joy, the cost of long term care insurance depends mostly on the age at which you apply. I was 53 when I bought my policy and my premiums are $2600/year for 10 years and then it is paid in full. It is not cheap, but I figure if you spend just five or six months in a NH you will recoup all your costs....My financial planner and lawyer were the ones who convinced me to purchase...I am hoping to not ever have to use it...LOL!
    • CommentAuthorAdmin
    • CommentTimeJun 10th 2008
     
    Everyone should shop around for the best price for Long Term Care Insurance, but please check the front page of this website under Daily News Bulletin - there is an article on FREE long term care for Veteran's. No, it's not complete coverage forever by any means, but anything free is helpful. I am going to look into it for Sid.

    http://www.producersweb.com/r/A2Z/d/contentFocus/?adcID=352907ce0e979d0c9a717b11f9e87c06

    joang
    • CommentAuthorJane*
    • CommentTimeJun 10th 2008
     
    joyfh, if your husband has already has this disease he will not qualify for long term care insurance.

    Jane
    • CommentAuthorSunshyne
    • CommentTimeJun 10th 2008 edited
     
    Jane is right, once a patient has been diagnosed with AD, an insurance company will not offer long-term care insurance.

    However, what Joan is referring to is not insurance per se. It is a "pension benefit" for veterans, and is not dependent upon service-related injuries for compensation. Most veterans who are in need of assistance qualify for this pension. Aid and Attendance can help pay for care in the home, nursing home or assisted living facility.

    There are several threads on Aid and Attendance (the "insurance" for veterans to which Joan is referring) over on the Alz Assoc web site, with all sorts of helpful tips on how to wade through all the paperwork. It can apparently take a lot of time to get it in place. Several people have suggested that you seek help in preparing the application, e.g., a local chapter of the American Legion or a local VA office. Fortunately, they will back pay to the date they receive the application.
  2.  
    True, that once diagnosed no insurance is available, but it might be something that the caregiver might want to consider for him or her self......Knowing firsthand the amount of work involved in full time caregiving, I am happy to know that my insurance could kick in to pay for inhome caregivers, aides or pay a good chunk of a NH bill for me should I ever need it.
  3.  
    We need to educate our childre on the importance of long term insurance Yes-it is expensive. Without it I would have lost everything I have.
    • CommentAuthorJane*
    • CommentTimeJun 10th 2008
     
    Sunshyne, not to blow our own horn but you probably don't even have to leave our site to find the information for the VA pension and about anything you would want to know about the benefits from Va. Just go to the top of this board, search my posts on Help for Sandie It was either Sandie E or Sandie D I explained all about that in detail.


    Jane
    • CommentAuthorkay kay
    • CommentTimeJun 10th 2008 edited
     
    If you already have a diagnosis for Alzheimers, then you will be unable to get a LTC policy. My DH and I got our policy over 9 years ago, before any diagnosis. When we got our policy, they did not give any test, etc., now the insurance companies are starting to give mental tests and also look into other health problems that may become an issue before issuing the policy. My DH has been in a NH for over a year now. We paid out approx. $21,500 during the past 9 years on premiums and then his deductible, but, the first 6 months of his care was more than this. We have a lifetime policy and he has $200 per day and I have $250 per day. His NH cost are running approx. $3,658 per month right now, approx. $121 per day. The NH usually raises their rates once a year. They go up per a day rate. Instead of $121 right now, in Sept. our insurance company will be paying approx $124 per day. Rates vary widely, according to where you live. Some places charge upwards of $5,000 per month, so, as we all know it is very expensive. We no longer pay any premiums on my DH's LTC policy, because when your deductible is met and you activate your policy, then your premiums are waived. The cost of $121 per day includes everything, diapers, diaper cream, laundry, and anything else involved with his care. The only thing I have to pay is the co-pays on his doctors visits at the NH and the co-pays on his medications.

    I am very happy we made this decision when we did. I do not want to deal with the government and this way I call all the shots on his care. It has made life a little easier to deal with going through this terrible disease. My daughter is only 32 years old and is already looking into LTC Insurance, which will be much cheaper if she gets this while she is still young and healthy. I told her that I believe the Financial Planners should make this a part of the overall picture when someone comes to them for financial advice. There are residents that have been at the NH for over 5 years now and just keep hanging on. My DH is also doing the same thing, so, we never know how long this could last.

    I agree with bluedaze, yes, LTC is expensive, but, without it I would loose almost everything.
    • CommentAuthorjoyfh
    • CommentTimeJun 10th 2008
     
    Thanks so much for all the information...wow you damn if you do and damn if you don't..you just can't win..What about just hiring help that is quilified to care with dementia patience???? I will keep learning...this site is good and I will keep learning. JOY
    • CommentAuthorfrand*
    • CommentTimeJun 10th 2008
     
    When my husband was diagnosed I filed the paperwork necessary for the VA. I HOPE we are never poor enough to qualify, since for us the spend down was a lot. We are supposed to be in their computer and they are supposed to notify us if there is any change - but with all the guys/gals coming back from Iraq/Afghanistan I imagine we are further down the list. Still, it never hurts to file - let's face it, should we need the care our nest egg will be devoured.
    I feel as prepared as I was should the possible 100' tsuani have happened when we lived on the ocean - there just seem to be some things for which I am not prepared.
    • CommentAuthordivvi*
    • CommentTimeJun 10th 2008
     
    we dont have LTC either at this point. nor qualify for medicaide or any govt help so i am resolved if the time comes to have inhome help which i think would be cheaper than NH and if hes that bad then call in hospice as well. of course if he couldnt be at home for some reason then would have to re consider skilled care nursing facility. just hope it doesnt get that far. all else fails we pull his antiobiotics for concurrent utis and or bp meds and let nature take its course. there is no good end to this at any cost. i on the other hand was involved with the fenfen heart valve issues and have been unable to get ANY type of insurance after using for 3mos. i had a mild mitral valve issue but since had several eccho and now they say there isnt anything thats 'unusual'! so i may try to reapply if i can get copies of new eccho from dr. they will make me jump hoops to qualify if i do.most companies wont want to insure me. it was a huge worry and still is. i have to get my health insu now thru the 'unsuriable' pool and its 1800 every 3mos...go figure and i am still overweight and gained all the lbs back fromt he fenfen...such is life. divvi
    • CommentAuthorSunshyne
    • CommentTimeJun 10th 2008
     
    Jane, forgive me. If the topic had to do with anything financial then I should have realized you'd already moved heaven and earth to explain it here. :-)

    (I just assumed if Joan thought it was something "new" that it hadn't been discussed here. My bad.)
    • CommentAuthorJane*
    • CommentTimeJun 10th 2008
     
    Oh No Sunshyne, I did not mean anything like that at all. I just meant that it might be easier to search here. Please do not take me wrong. The more we can learn from any place the better is what I say, I just thought it might take less time to search that is all.

    Jane
    • CommentAuthorSunshyne
    • CommentTimeJun 10th 2008
     
    I was teasing you, sweet lady. I really should have known you'd have it covered.