I just heard on the radio that Alzheimers is now considered the most expensive medical condition there is. The reason for this is not because of the medications needed, but because of the caregiving needed for the person for so many years. Maybe this will prompt some financial help for those that need help with the caregiving duties.
This info I heard Joan was on the radio station out of Los Angeles. I thought it was interesting even if the report was just a few words. I had never even thought about AZ being the most expensive medical condition. Most of the caregivers including you are working for free, but that is a lot of money if we all were paid and for a lot of years. Also, they need to count in the caregivers that give up good paying jobs to stay home and be the caregiver.
I had to give up my job.And we are dipping into our retirement savings to make ends meet. What else can you do. Our local paper had the story in it today.
Yes I gave up my work too. And, I just cannot go back yet, I did write to the market manager about coming back in September and she sail all spots are taken. That's ok. I am so tired anyway.
It is amazing we can survive, I know there are some on here that have losts their homes it is heartbreaking.
Here in te East the costs are much higher than the average - over $100,000/year for a NH private room and between $70,000-$80,000 for a private room in an ALF.
Really, no one but the very rich or those with LTC insurance which covers all costs (hb's does not) can afford those costs for long without going bankrupt. When I was discussing placement for hb with the elder law attorney he said the "good news" about medicaid is that I could keep the house and $105,000. The bad news is that I would no longer be able to afford to live in the house because of taxes, upkeep, etc which would impoverish me. Too many of us are in that situation.
LFL...Do you know if when they tell you that you can keep the house do they put a lien on your house to recoup NH care when you sale the house? I have been told yes by someone and no by another person. Maybe it depends on the State you live in.
Our Elder Law Lawyer said assets are split in half,I could keep up to 115,000 of our assets,the rest would go to DH's care.House and business are in my name only and I would be allowed to keep them,once DH would go on medicaid, I could sell both properties free and clear of medicaid, I think if home is in both names whenit is sold half would go to repay medicaid.DH's IRA would cover 2 yrs. in NH.THe problem is upkeep on business property is over 10,000 yearly,not counting major repairs(bldg, was built in 1851,will definitely need repairs)DS pays for mowing,etc.Since I have not been able to run business full time because of DH,expenses are out of our savings.Once DH goes in NH I will be able to devote more time to business(if my health holds up). This is PA and I know rules could be different elsewhere.Why does life have to be so complicated?
JudithKB, my understanding is it depends on the state. In the state I reside they will put a lien on the property.
The more you save over your life the more you are punished. Spend it...live for the moment...live without responsibilty and you will be rewarded. Seems so unfair.
My husband served in the US Army in war time. He does not qualify for VA benefit because we "make too much". Believe me, we are not weathly people. We live in a modest 3 bedroom/2bath home in a nice neighborhood, but nothing fancy. We seldom went out to dinner or the movies and saved. Yes, we took one nice vacation are year, but we did it as modestly as possible. So yes, we do have a little nest egg ...but that will soon be cracked open. All the years of saving will be gone in only a couple of years.
Yes, this is so very complicated...and so very unfair when we think that thousands and millions of dollars are going to foreign aid. How about taking care of our own...our soldiers...our elderly...and the homeless?
The cost of this illness and lack of government assistance really pisses the "bird" off.
Please don't pick on foreign aid. It is a very small part part of the federal budget. And most if it is military aid (so I wouldn't mind removing those parts)
I'm in the same boat as everyone else but I feel we are in a much stronger position from being savers. I would be panicking more if I had fewer financial resources. At the very least my wife's retirement funds will be used up, depending on when she goes into LTC and how long she lives, but at least I have these resources and have some control over the quality of her life. If I had no money I would have no control and far fewer options.
I would like to see more govt assistance, for others as well as myself. I would like to see more consistency in benefits and easier rules. Unfortunately every time they uncover a disability insurance scam or Medicaid fraud the rules get tightened for everyone. The fact that you need a specialty lawyer for help because the rules differ everywhere and change all of the time speaks volumes.
The Selfish Pig's Guide to Caregiving says it best. No matter what country you live in, officialdom will provide just enough help,to keep,the caregiver going. But don't expect any more than that.
Judith, I do think it varies by state and yes, here in NJ they will put a lien on the house to pay back any Medicaid funds used by DH.
And it does help that we have been savers-I don't have that uncontrollable fear (yet) about DH's or my care but as he continues to live we will surely go through all of his retirement savings and probably much of mine. My concern is that nothing will be left for my care because I have a debilitating illness and will dfinitely need help in the future. I saved diligently because I didn't qualify for LTC ins, so I "self-insured" by saving. Now it looks like most of it will go for his care.
I am sorry to hear that you are dealing with a "debiliating illness". I think we all have a fear that we will not have enough funds for our own care in the later years. I am a "control" freak...and sometimes we have no control over our situation despite how hard we try. We have to let go and let God. ( I am struggling with the advice I just gave you)
You are a great contributor to this website and your input and knowledge is highly valued.
lulliebird, thanks so much for the kind words. I too am a control freak and letting go is next to impossible for me! We'll support each other in "letting go:!
The news stories are based on an article in the April 4 New England Journal of Medicine, which is unfortunately behind a paywall. I am very curious to what extend it counts unpaid care by family caregivers as a cost.
Control freaks, we must have learned by now that we have zero control of this disease that has taken over our lives. Living day by day has always been so counter to my personality, but I have been put firmly in my place and just have to give it all up to the BIG Guy upstairs ... I have learned to take what comes and do my very best to get out in front of what I know is coming in the future. I hate to be caught with my pants down. And, I do totally lose my cool at times, usually at dh, and feel terrible later. But, it's the best I can do.
I'm sorry I got a bit off the topic - we simply must put pressure on our elected representatives. The one thing I know they care the absolute most about is being re-elected - and who does that - we do.