You need to get this long before you need it, but also ensure it is good plan that will take care of you. The person in the article is lucky to have kids doing that, if you don't have kids who care who will care for you.
Healthcare in the US is broken and they won’t let you fix it because the money is too good. Think about the fact that PBMs, which is there to save and manage on pharma is incentivized to promote drug price inflation. That’s just one “small” piece of this clusterf*k. It’s layers and layers of these convoluted system of incentives.
As to OP, the simplest solution is to move out of the US early enough or become “poor” enough and be in a wealthy blue state by the time you get to this predicament.
Healthcare is little more than a jobs program at this point.
I believe it is the largest industry by employment in every single state now.
That compounds the problem even further. Really fixing it would put a double digit percentage of people out of work. I'm all for it, but I can see why politicians are hesitant.
Is it a coincidence that the industries with the most heavy government involvement - health care, education, and housing - are the most messed up with perverse incentives?
Whereas the software industry, with near zero government involvement, has had enormous improvements in function and has pushed the cost to literally zero.
The fun part is that government intervention has driven a lot of the messed up things about US healthcare.
Super inflated prices nobody pays? - law on “U&C prices”
Consolidation of small oncology clinics into huge hospital systems? - law on 340B prices
All of these laws were put into place in an attempt at regulating prices, and as a result, entities exploited the law to give themselves even more profit than if the laws never existed.
Now that’s not to argue the government is solely at fault, but it’s remarkable how much government intervention had made the US system worse, not better.
I wonder if moving his father to an assisted living facility at some point will be a better option. I have little experience with this topic so I am genuinely curious.
My youngest and I were discussing how removing zoning barriers to ADU (in-law suites) can be a big win for families and small win for housing in general.
In short, build an efficiency apartment on family property for an alone-living relative. Family can better provide support; the relative's residence goes back into the housing supply.
The municipality provides usual construction inspections but doesn't prevent the construction for non-pragmatic reasons.
> they each paid about $14,000 in annual premiums for 10 years, and the daily benefit started at $200 per day.
Insurance companies have to make money, but that's not that good of a deal, and the payout isn't that high ($73k annually) considering you won't be doing much else.
A lot of people think of insurance like a savings account rather than something like a sequence of options being rolled over so when they experience the reality of what they've been spending money on they tend to get very upset.
There's another interesting twist to this. The insurance company is willing to pay a certain hourly rate to home health care providers. There is a limited number of health care providers willing to work for this rate. Supplementing the rate is not permitted. Lo and behold, it is sometimes not possible to find a health care provider which the insurance will pay for.
From the European POV this is awful and marginally scary. A commenter down the article writes that she is gonna sell her mother's house in order to serve her and even that will not last long.
The way US health care functions is an argument that the nation's principles (all free capitalism and no public intervention) are problematic.
If I were POTUS for a season, I would make a volcanic erruption in the health system. If I needed to care an elder without insurance, I would pay out of pocket a willing friend or even a homeless and not proceed to euthanasia as a commenter suggested.
The best way to do long-term care for a loved one is to hire the nurses they like at a facility they stay at for a short while to treat the sick person at home. This is vastly cheaper than doing so in a facility, and the nurses earn more and are incentivized to keep the person as healthy as possible because the job pays very well since there is no facility extracting enormous overhead and executive salary costs from their salary.
One thing I don't get, given all the talk that the US healthcare system is like it is "because capitalism" - is why doesn't supply increase given the sky high costs?
You'd think with the insane money the system is gouging out of people, every man and his dog would be trying to get a bite?
Also sounds like buying insurance isn't enough there, you'd have to buy some kind of insurer management service to deal with all the bullshit required to claim
For those in the US, In some states like Minnesota, if you have long-term care insurance, assets can be sheltered equal to the amount of the LTC policy. This allows you qualify for Medicare with significant assets beyond the House, Vehicle and traditional qualifying assets. The sheltered assets could be used for legacy or personal needs.
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[ 0.31 ms ] story [ 1485 ms ] threadInsurance is the only industry where customers are the enemy.
(1) It’s expensive (2) Everybody has to pay (3) The government’s gotta run it
As to OP, the simplest solution is to move out of the US early enough or become “poor” enough and be in a wealthy blue state by the time you get to this predicament.
I believe it is the largest industry by employment in every single state now.
That compounds the problem even further. Really fixing it would put a double digit percentage of people out of work. I'm all for it, but I can see why politicians are hesitant.
https://en.wikipedia.org/wiki/List_of_largest_United_Kingdom...
Keeping people healthy is labour intensive.
Whereas the software industry, with near zero government involvement, has had enormous improvements in function and has pushed the cost to literally zero.
Super inflated prices nobody pays? - law on “U&C prices”
Consolidation of small oncology clinics into huge hospital systems? - law on 340B prices
All of these laws were put into place in an attempt at regulating prices, and as a result, entities exploited the law to give themselves even more profit than if the laws never existed.
Now that’s not to argue the government is solely at fault, but it’s remarkable how much government intervention had made the US system worse, not better.
In short, build an efficiency apartment on family property for an alone-living relative. Family can better provide support; the relative's residence goes back into the housing supply.
The municipality provides usual construction inspections but doesn't prevent the construction for non-pragmatic reasons.
ref: https://duckduckgo.com/?t=h_&q=zoning+to+allow+ADU%2C+in-law...
Insurance companies have to make money, but that's not that good of a deal, and the payout isn't that high ($73k annually) considering you won't be doing much else.
The way US health care functions is an argument that the nation's principles (all free capitalism and no public intervention) are problematic.
If I were POTUS for a season, I would make a volcanic erruption in the health system. If I needed to care an elder without insurance, I would pay out of pocket a willing friend or even a homeless and not proceed to euthanasia as a commenter suggested.
You'd think with the insane money the system is gouging out of people, every man and his dog would be trying to get a bite?
Also sounds like buying insurance isn't enough there, you'd have to buy some kind of insurer management service to deal with all the bullshit required to claim