“Q&A Column,” Orlando Sentinel
“Q: I have a relative in a nursing home paying $73,000 per year. Her roommate is on Medicaid, gets the same level of care, and pays only the value of her Social Security. Is there a financial plan that shields savings in the event this situation occurs? — M.P., Winter Springs
A: Yes, long-term care insurance is designed to pay the cost of home health care, assisted-living and convalescent care expenses. Long-term care insurance is expensive. The time to consider it is well before the need for it arises. — Larry Breen”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Good answer. What do you think the questioner is most likely to do now? Find a LTCI producer or look for an Medicaid planner?