Medicare question

[temery]

I was just talking with a friend who works at big Y and he tells me his uncle who is 88 is in a nursing home because of an infection of some type. He lived alone.

His uncle is in a room with three other men, Medicare pays 100% for 20 days, then he'll be charged $300/day for the shared room. The last time I looked into long term care was 2012, for my mother. A private room would have been $10k/month.

Is this what the costs have really become? Wouldn't a home healthcare worker be much cheaper?

 

[NIT88]

I was just talking with a friend who works at big Y and he tells me his uncle who is 88 is in a nursing home because of an infection of some type. He lived Worthy alone.

His uncle is in a room with three other men, Medicare pays 100% for 20 days, then he'll be charged $300/day for the shared room. The last time I looked into long term care was 2012, for my mother. A private room would have been $10k/month.

Is this what the costs have really become? Wouldn't a home healthcare worker be much cheaper?

It stinks, but it is $10k+ for skilled care in a private room. Home care can be cheeper ($4-5k), but that is only the case if someone isn’t coming to the house too often. Once it gets to around the clock care at hime that gets really expensive. This is even more depressing than the teams trip to Maui.

 

[upstater]

One would think that huge savings could be made with home care... It can't be round the clock, obviously. I'd assume hiring a private home care worker might be cheaper but risky as well since there is no oversight. We did this for a relative, and let me just say, "things went missing..."

 

[Rocktheworld]

Depends. Talk to the case managers. If he improves such that he only needs help for a couple hours a day or with specific tasks, and doesn’t need nursing care 24/7, he could go home with a home nurse. Occupational and physical therapists should be weighing in on what his level of assistance/needs are currently, and they should hav taken an inventory on his home situation when they first evaluated him, to prognosticate on what level of assistance he’ll likely need after a course of therapy

Don’t know how little help he would need to make it cost effective.

 

[B1GEast]

It really depends on the complexity of care. For elderly people that need more care due to dementia or other high care needs, the home care costs can be very high.

Medicare only covers short term care.

I think the average monthly cost for a nursing home is well over $5k and it's only increasing annually at a rate higher than inflation.

Don't get old, it's expensive. And stop doing bull s*** things on Instagram for likes. A simple fall after age 50 can have devastating life altering consequences.

Work out and put some muscles on your bones, it will go a long way for the quality of life.

 

[jostar1]

What do I pay?
You pay nothing for covered services the
first 20 days that you’re in a skilled nursing
facility (SNF). You pay a daily coinsurance
for days 21-100, and you pay all costs
beyond 100 days. Visit Medicare.gov, or call
1-800-MEDICARE (1-800-633-4227) to get
current amounts.

https://www.medicare.gov/publications/11359-getting-started-medicare-and-skilled-nursing-facility-care.pdf

 

[jostar1]

The average cost of nursing home care in CT

CareScout, a Genworth company, researched extensively to uncover the cost of nursing homes in CT. From June through November 2021, CareScout contacted 67,742 providers by phone to complete 14,698 surveys of nursing homes, assisted living facilities, adult day health facilities, and home care providers nationwide. Based on the thorough research CareScout performed, the average monthly cost of a semi-private room in nursing homes in CT is $13,764; a private room costs $15,170.

Although the average monthly nursing home cost in CT doesn’t vary much by area, some differences exist.

https://www.ctinsider.com/best/senior-living/nursing-home/nursing-home-cost-ct/#:~:text=The%20average%20cost%20of%20nursing%20home%20care%20in%20CT,-CareScout%2C%20a%20Genworth&text=Based%20on%20the%20thorough%20research,a%20private%20room%20costs%20%2415%2C170.

 

[mussels]

Don't get old, it's expensive. And stop doing bull things on Instagram for likes. A simple fall after age 50 can have devastating life altering consequences.

I keep telling grandpa to stop doing those flips off the roof, but he doesn’t listen to anybody these days.

 

[Zonepress]

Just make sure the house is in trust
You’ve given your money to your kids or whomever is getting it
Keep a reserve in the safe deposit box
Keep the allowable cash that the state can’t go after
Have a DNR
Go on
Medicaid
And just hope that you get a chance to go out easy!!

 

[geordi]

It won't help your father or the financial situation, but anyone, especially those 40 and younger (lower costs based on age), might want to look at Long Term Care insurance. If you are in a situation in which you will need extended care for a significant period of time, more than 4-8 weeks or so, the policy will cover those expenses. Like all insurance, it's betting against yourself, but it will help alleviate those costs.

(See Zonepress above.)

 

[jleves]

Looks like the Boneyard has your answer:

 

[Kathy]

It stinks, but it is $10k+ for skilled care in a private room. Home care can be cheeper ($4-5k), but that is only the case if someone isn’t coming to the house too often. Once it gets to around the clock care at hime that gets really expensive. This is even more depressing than the teams trip to Maui.

Was 10-12k month for live in aide for my mom 5 years ago

 

[uconnric]

The cost in a nursing home is about $17,000 per month. Medicare is generally good for the first 20 days (if you qualify) and partial pay for days 20-100 if you are “improving “

 

[JohnFSilver]

I was just talking with a friend who works at big Y and he tells me his uncle who is 88 is in a nursing home because of an infection of some type. He lived alone.

His uncle is in a room with three other men, Medicare pays 100% for 20 days, then he'll be charged $300/day for the shared room. The last time I looked into long term care was 2012, for my mother. A private room would have been $10k/month.

Is this what the costs have really become? Wouldn't a home healthcare worker be much cheaper?

Medicare pays fort short term disability up to 90 days.

Long term care not covered by medicare. You have to go private pay on that, which at $300 is about right.

When they steal all your money, and you spend down, then you qualify for title 19 Medicaid.

Which means you get the crappy service. But you can only have $1,000 in assets. The nursing home will so put a lien on your home and steal it after you die.

An I laws family member has dementia. Needs 24 hour cars. It is $30k-$35k a month. There goes all the wealth they built.

 

[JohnFSilver]

*care

 

[geordi]

We need an improved Medicare for All - like that proposed by Bernie Sanders and Pramila Jayapal. Their legislation includes long-term care. Most people can’t afford the long-term care private insurance currently available.

Big Pharma will see to it that never happens.

 

[Kathy]

When I looked into it after my late husband's stroke (age 53 1/2) even my IRA's/401's at risk. We would have lost everything. My lawyer had someone who moved out of state where a home valued at 1 million+ could be protected. He liquidated assets, purchased some outlandish home, lived there long enough to get his wife on medicaid then sold and moved back to CT reinvesting the proceeds from the sale.
At the time I think CT allowed up to 700K in your home. Each state is different.

 

[JohnFSilver]

When I looked into it after my late husband's stroke (age 53 1/2) even my IRA's/401's at risk. We would have lost everything. My lawyer had someone who moved out of state where a home valued at 1 million+ could be protected. He liquidated assets, purchased some outlandish home, lived there long enough to get his wife on medicaid then sold and moved back to CT reinvesting the proceeds from the sale.
At the time I think CT allowed up to 700K in your home. Each state is different.

You really need an eldercare attorney. Also, look Into ltc insurance. If you can pay $80k for a policy when you are 50 you will have nothing to worry about.

My father died at 64 of cancer, and the one macabre thing the Elder Care lawyer told me was LTC is not a consideration. If you are gonna go, go quick.

And Kathy. I am so sorry. Its a very difficult thing to manage.

Two biggest transfers of wealth in American life are college education for your children, and I'd you survive that, death care at the end.

The goal of these places is to liquidate your wealth.

 

[JohnFSilver]

Big Pharma will see to it that never happens.

These GLP-1s are $1300 to $1800 a month. They essentially will stop diabetes from happening. But, the only way you get covered is if you have any questions diabetes.

So gotta risk going to a compound pharmacy. Think about that.

 

[Kathy]

You really need an eldercare attorney. Also, look Into ltc insurance. If you can pay $80k for a policy when you are 50 you will have nothing to worry about.

My father died at 64 of cancer, and the one macabre thing the Elder Care lawyer told me was LTC is not a consideration. If you are gonna go, go quick.

And Kathy. I am so sorry. Its a very difficult thing to manage.

Two biggest transfers of wealth in American life are college education for your children, and I'd you survive that, death care at the end.

The goal of these places is to liquidate your wealth.

Absolutely. I was lucky enough that my hisband could come home, my boss let me decrease hours so I could be caregiver but that wasn't easy without help.
My mom had enough left without selling her home for about 4 months when Covid took her. We were facing a reverse mortgage to keep her home or medicaid and nursing home. Granted she was 89 when she died but was bothered by the fact she would leave little to her grandchilden and great-grandchildren

 

[Waquoit]

It won't help your father or the financial situation, but anyone, especially those 40 and younger (lower costs based on age), might want to look at Long Term Care insurance. If you are in a situation in which you will need extended care for a significant period of time, more than 4-8 weeks or so, the policy will cover those expenses.

Will it? Experiences vary.