“This Is How Much Your Kids Are Worth,” by Suzanne Woolley, Bloomberg
“Michael Hurd doesn’t have a long-term-care insurance policy, but he does have something likely to prove valuable in his old age, however—two daughters. Few Americans assign a dollar amount to the worth of their children—they are without price. But as lead author of a new study looking at nursing home cost and use, Hurd can quantify the value that daughters, and children in general, bring to parents facing one of life’s most dreaded prospects: a stay in a nursing home.”
LTC Comment (from Damon V. Moses, Administrative Coordinator, Center for Long-Term Care Reform):
If it’s beneficial to consider how much a person’s children are worth in terms of LTC services they might provide, it should also be beneficial to consider how much it’s worth to spare those children the known health consequences of providing that care. Unfortunately, this article does not do so and undermines the importance of real long-term care planning.