Im 57 and in a nursing home. Im 90 percent blind, had a severe stroke, heart attack, and a host of other ailments. I recovered from the stroke 95%, i fully have my mind about me, walk without a walker. The NH im in is outatanding. Compassionate care givers, great management, great activities department, though not gourmet by any means, decent enough food. I consider myself fortunate to be in such a facility.
I spent two weeks in a NH after breaking both ankles and was unable to go home. I am 56. It was supposedly one of the best in my area. One nurse on the wing per shift, and two cnas. The nurses spent the majority of their time dispensing drugs and charting that. The cnas did everything else. I was "scheduled" two showers a week, although I got about 3 because I threw a fit about every 3 days because I really could not go any longer. The food was awful, the beds very uncomfortable. I refused all the drugs except pain meds, because I didn't want to be a zombie like most of the inmates. I am vegan, and let me tell you, If you are on a special diet, or just want nutritious food, you better be prepared to buy it!!! I could go on and on. If you have loved ones in a nursing home, make sure you go every single day and monitor what's going on! Having a physical injury, and NO diminished mental capacity, I was able to advocate for myself, I frequently told them my legs were broken, but my brain was fine!
I have worked in nursing homes for 20yrs, and mostly on the rehab halls like you were on (maybe 1 you were at) and you nailed it...but 2 cna? You were spoiled. Most have 1 nurse and 1 cna when you can find them or no cna at all.
You are right . I'm a paraplegic in a nursing home and the and yeah two showers a week if that many one or none in this place since I clean myself from my head to my frontal area and they finish the rest . During the 3rd evening and 4th over night shift gets bad since no one answers your light and when they do it's taken by a bad attitude CNAand weekends its partytime for them since no bosses are there . Well , the food here is bad but breakfast isnt bad just ask for omelets since you get real eggs not the powdered scrambled eggs which arent real eggs and no if your a vegan or on dialysis as I am , no special diet and the vegetables side dishes are still part way frozen or over cooked.
Paying a care facility a fair amount is not a problem. But, these places "feed" grossly overpaid administrators and boards that provide ZERO added medical benefit. If there is any truly fraudulent activity, it's in the medical industry's pricing structure and how they seize far more assets than services provided.
Where I live the cheapest nursing homes are in the $12,000/month range. So people lose their entire life savings within a year or 2 often. Horrific video by Dave Ramsey who probably has off shore tax shelters that can't be touched and millions in real estate that also can;t be touched. I find this video incredibly disturbing
Norsefalconer The margin of profit for NH is very low. The NH administrator is responsible for the care of some of our most vulnerable and the actions of every employee and can lose their license over over something they didn't even know about. There are a lot of operating expenses and personnel in place to monitor and implement government regulations. It's one of the most regulated industries. Rates are set by the state and I believe private pay rates are regulated in a facility that accepts Medicaid residents. It is different for total private pay NH and assured living. Not trying to fight but it requires a lot of staff, equipment and supplies to care for older and disabled folks.
I work at an assisted living and a room here is 6,000 dollars a month. Furthermore, if a nurse Medicates you that is a 300 dollar charge. Not to mention, if you get your laundry done by the facility they charge u 300 dollars. Lastly, your on the hook for pull ups, body wash, and most of everyday supplies. Btw I’m a nurse aide and I’ve been one for 4 years. It’s scary getting old considering how expensive it gets and how most things aren’t covered. Things like dentures, hearing aides, medication and care cost a fortune. I mean they are robbing this old people blind
@@MarksTournaments The employees there won't care about your loved one. They will neglect their basic needs. It's likely they'll be physically abused, as well.
Have you ever had to deal with the calif. monopoly of health care or lack of? You say purchase of a good or service? You have no legal standing in calif. if something goes wrong seriouslly?
My father in law paid for long term care insurance for around 20 years. Then, they raised it up 80%, yes, 80%. There is no way that he, or we, could afford to pay that. It would have been over 2K per quarter for that insurance. We had to cancel the insurance. I can't believe that it was legal for them to do that.
My father went ahead and paid the extra and when he got dementia he forgot to make a payment and they were able to cancel him after getting another 20 years payments it definitely should be illegal
I work as a cna in a nursing home and this industry is a mess. They are dumping grounds for societys most vulnerable. I'm a libertarian but this sector of healthcare needs to be nationalized and non profit.
In my area, good memory/dementia care is $8K-$9K per month, while 24/7 in-home care runs $11K-$12K per month. Pops died at home at 91 of heart failure, then Mom got dementia at 89. She’s now getting excellent care in a memory care unit. Folks should get their financial life in order NOW while they’re still working because, chances are, we’re all gonna need some sort of life assistance someday. My folks didn’t earn big wages but they were smart with their money and their plan is paying off in a big way. The operative word here is “plan.”
I work in a nursing home and i have quite a few residents that have been there for longer than 4 or 5 years. I have people that have been at our nursing home for 10 and 15 years! Don't just assume 5 years. Dementia can hit and be a very long process.
Dave Ramsey, I respect your views on nearly everything and follow your lessons on Money. On my way to being debt free. This video frustrates me though. Have you dealt with nursing homes lately? Serious question. I've had the unfortunate visits to several in the last few years. 3 actually. All 3 different homes in different cities but the same state. None had adequate health care or basic care even. They didn't take care of the patients until we chewed out the staff. Even then they didn't do what they are supposed to. We still ended up with very large bills. I'm talking well over $100,000 and this is after portions were paid by insurance. In one instance the family lost a 100 acres farm because of the nursing home that didn't even take care of the patient. You get treated like your staying in a stocking room at Walmart and charged like your staying at the Hilton with 3 servants taking care of you 24 hours a day. I'm hoping that you're just uneducated in this field and learn more. I'm guessing you have the means to provide in home care yourself so I doubt you'll have to deal with this and thank God you don't because they are horrible places that cut costs everywhere they can all while your loved ones suffer. You say it's fraud for people to hide money so they can get healthcare but the true thief's are the nursing home owners that operate these facilities the way they do. People wouldn't think about hiding income if the nursing homes ran on ethical principles.
Jared Braun I’m so sorry you’ve had such poor experiences! The nursing home both my grandmothers lived in is a great facility with incredible nurses and support staff. They both received the highest level of quality, personal care for the five and six years they were there, respectively. I guess like every other industry there are good and bad businesses. Hopefully more will take a lesson from our local Lutheran Home.
Anneliese Freiny I’m very happy that your family had good experiences. I think nearly all deserve to be treated with respect if you have been on this planet for nearly a century. Unfortunately a lot of people are not treated with dignity in these homes. This is my experience and many others that I’ve talked to about it. Once again very happy your family had a better experience then we did.
I've worked as a caregiver for the elderly, so I've seen quite a few nursing homes. All I can say is, I hope I die before I ever have to be put in a nursing home.
Jared Braun Two of my grandparents are in nursing homes. My family has seen first hand that the level of care and the cost varies greatly. Long term care insurance is crucial. It pays around 50% of their monthly costs. I agree with Dave that it’s insanity to try to hide assets in order to avoid paying. It’s not only legally wrong, it’s morally wrong. I don’t know why we as a society think it’s ok and talk about it openly like it’s normal. We know the cost going in. They’re all expensive. If you run out of money, unfortunately a nursing home is no longer in the cards.
As someone who's worked in several, 100% agree. My parents worked as nurses and they said the nursing homes would fraudulently charge insurance companies.
Having nightmare. getting Mom out of nursing home. They have been avoiding me etc. They knew goal was to get Mom from NY to MD etc and take of her in my home. This nursing home lied to me so much.
@@leeanncornell8305 Don't give up. She took care of you now you are her advocate. Nursing homes want the money, staff don't make a lot. Other cultures take care of their old people, not our country. We look at them as a burden. They also like to up the meds for control too. I am very happy my parents did not go to a nursing home. My step mom did and it was awful. She fell and deteriorated fast. Keep fighting.
@@leeanncornell8305 I hope your Mom gets good care somewhere. I really shouldn't be in a nursing home since I'm just a paraplegic but without family to help . They do lie big time , the neglect is very high and if you call the State they pay off the offical . I have skin problems a UTI and the physical therapy they are supposed to give is a joke . My only sister wants me to move to another one but told her it's just another nightmare place and wish I could go back into assisted living where I was before I got like this . America needs to rejust itself since people need a better existence than a crummy nursing home where the places sponge Medicare and give back hardly what they are supposed to give .
Both of my parents taught me and my sister to take of my uncle on my dad's side (whom recovered from brain cancer surgery) and my grandmother (whom lived with Parkinson's and Alzheimer's) on my mom's side while they could not fend for themselves. The one week that my parents decided put our uncle in the nursing home while we went on a church week tour (which was just for a week), my uncle died in a nursing home. It hurt, even though he had other complications, but we VOWED to never put any of our elderly in a nursing home. So when my grandmother moved. We took care of her until the day we found she was having a heart attack and rushed her to the hospital. Samething with my dad, with his complications with Leukemic returned from remission. I refuse to put any elderly person in my family in the nursing home.
TheBlack Metal...Your family made the best decision to care for them at home. I used to worked in a nursing home as a CNA for 2 1/2 years while I was in school for my RN. The food is nasty, they gets bathed once a week per management protocols and some of the LPNs don’t even give them their medication or checking blood sugars. Just a horrible place for the elderly.
I'm a volunteer at my local VA Hospital where part of what I is work with our VA CLC (nursing home) as well as the Hospice. From time to time I also visit with veterans who were placed in a private nursing home. Some of these nursing homes are awful!
I would say from my experience working at a nursing home most of them are not up to par. However, the assisted living facilities are way better. The care is better, they have cameras, activities, the staff is amazing and the food is good. However, the only downside is the cost.
Many nursing homes are very overpriced and their employees are underpaid and they do steal from the residents. God forbid that you do not have anyone to come visit you if you do go into one. The staff can be very bad in those instances. State Ombudsmen for Nursing Homes tell me , a former nurse, and then Church Administrative Assistant, that the nursing homes are not mandated to have a certain amount of staff to patients. Many are very understaffed with people who have little education and some are abusive. This has to change as the population ages. The only ones making money are the administrators and owners of the nursing homes.
J Lee as a nurse aide I can attest to that. Most nursing homes have a high turn over rate, the staff is over worked, underpaid, burned out, there is a lack of staff to patient ratio and there’s a lot of abuse that goes on!
1.Most states require criminal background on prospective new employees. 2. Nursing homes are regulated by that stars Dept of Health. One of the regs require certain nursing care hours per day, facility can be fined if hours are not made. 3. All nursing homes are required to provide nurse aide education ( nurses complete this on their own) throughout the year, so that they maintain their certification.
Most people would rather die than live in a nursing home. Its a black eye on America how we deal with our elderly. Totally not that way in other countries!
Not about other countries, its about historically how the elderly were cared for. Honor your mom and dad includes don't stick them in a home. How is it more affordable for anyone anyway? These ppl end up owing their hard won family estate (read run down property to the snobs) to the govt to pay for a nursing home, it's sick. If you don't appreciate it as the kids, then sell it yourselves and set up your home/property for mom and dad with the money.
I'm not saying long term care insurance isn't a good thing, it is. However, most of the people I see at the nursing home I work at have been at have been there for more than 3 years.
Rich people like Dave are heavily invested in nursing homes and elder care as it's such a growth industry. Why is there no mention of asset protection or the value for money.
Dave, when I go out to eat or go buy a vehicle, I pretty much know upfront the cost and value of what I am getting. I am getting my money’s worth. Not so much with a Nursing Home. $10,000 a month for awful care from understaffed facilities because they pay their caregivers squat and the people at the top bank it. It is really a very poor analogy and most likely one that your family will never have to deal with.
My job was Director of Social Services in a nursing home. Don’t confuse Medicare skilled coverage with Medicaid. Medicaid is long term but remember, if you decide to impoverish Mom, it’s unlikely she will be going to a quality facility. The more difficult her care is, the worse chance of a decent home taking her. The private rate might be $250/day. The Medicaid rate closer to $170. Do the math……if someone goes in, pays privately for a reasonable length of time, many facilities will continue to provide care at the Medicaid rate but please. Don’t move money around. You might benefit at the expense of your mother’s quality of care.
Where I live the cheapest nursing homes are $in the $12,000/month range and having someone all day at the house is anywhere between $4,000 and $6,000/month or more or double that if 24 hours. Every Dave Ramsey fan should recognize that this is a horrific video and his advice should be completely ignored. People are best off getting a good elder law attorney and planning ahead well in advance or they run the risk of losing every hard earned dollar they ever earned. Within a few years, the person who worked hard for 50 years will have no more than the person who never worked a day in his life. And Dave Ramsey is fine with this??? And he's religious???
What Ramsey is saying is get the insurance. In home care depends on what the care is. Sometimes the home isn’t best place, for instance it could have stairs, or obstacles.
It isnt so easy. I work on a dementia unit and most of my residents require multiple people caring for them. They can get combative, become fall risks and many other things. I would also like to point out that nursing homes are not "grown up orphanages" as many think. Staff become very close with residents they see daily and we grow to know their ways and love them a good nursing home worker has a place in her/his heart for all the residents and we really do aim to provide them with the best physical and mental care that we can. Nursing homes get bad reputations but there is a lot of love in those places and we try hard to really give good care of mind body and soul.
When we had to put my mother into an assisted living program, the home tried to take all of my mother's money up front. My sister said no, and paid the bill every month.
Both of my grandmothers and my great aunt were/have been in a nursing homes for over five years. Way to be overachievers, Ladies! And thank you to the FABULOUS staff at both of their facilities! Nursing home staff are an incredible bunch of people doing some of the most difficult work out there! ❤️
I’ve always liked you and your advice. I must say in this case I hope listeners seek advice from a “financial Medicaid planner” to protect their home at least. These Nursing homes are definitely overcharging for the care they give and that’s the real problem! I’ve seen it, soo I don’t have one issue with people financially planning so they can qualify for Medicaid, until someone figures that Mess out. It’s criminal actually, i’m not sure most your middle class people can afford long-term care insurance those premiums are through the roof. Our medical system is broken here in the United States and people are seriously overcharged and it needs to stop.
Do you honestly think any health care costs in the US are fair???? Ever stayed at a hospital? Ever had a major surgery done or even a minor one? Your doctor will charge you $100 (on average) to spend 20 minutes in a room and he comes and maybe visits with you for 5 minutes... maybe... Most of the 20 minutes in the 'room' that they send you to is you waiting. It's all messed up. Also, the staff at the nursing facility are not making the money. THe ones doing the heavy care make nothing. ...The owers are probably out of state. They're making the money.
I work at a facility that is considered top notch in an expensive part of town. I still will never put my mother there. The people that run the place treat the residents like they should thank their lucky stars to stay there or they can leave. Plus 90% of the staff are foreigners who barely speak English and don't really care about the residents. Its so sad
If you love your parents do not send your loved one to a nursing home. From my experience as a nurse aide. I will say abuse on the elderly exist, the turnover rate is high, the aides are underpaid, and most of the staff is overworked!!! Not to mention, the amount of aides to patient ratio is down right illegal. You’ll have one aide to 30 residents no lie. I’ve seen a staff member in a nursing home hit a resident. I’ve seen staff not provide showers or toilet/change someone. I’ve seen staff not feed a resident or check on them. I’ve seen someone leave a resident on a bedpan for hours 😢😡😡😡😡 If you love your parents I’d recommend assisted living or private care. Assisted living is quite expensive. However, they have activities, you have your own apartment, cameras to monitor staff and residents, adequate staff, the abuse is non existent and the food is good 👌 and private care you can keep an eye 👁 on whether your parent is being taken care of! Since aides come to you.
assisted living IS a nursing home. not everyone has the ability to care for an elderly family member. some people work 12 hours a day, don't have the facilities nor space to take care of an elderly person and I'm not giving my own grandmother a sponge bath.
Brian Best. I used to work in one as well and what you are saying is sad but true. I am saving up now to help take care of my parents. I have two others and I always stress to them...we have to get things right now so we can take care of our parents. I refuse to put my parents in a nursing home
I trust your advice and experience with nursing homes; but I also know quite a few people who live in assisted care facilities, and you are right...they love it. They can opt to cook their own food in their apt or eat the food provided in the cafeteria (which is usually heavily subsidized to $2 or $3 a meal). They have activities, it's safe, and yes, abuse is non-existent. I provide (one of many thru our small-town senior citizen place) free trips to medical apts, dental apts, and just about any other places they need to go to (including shopping)...completely free of charge. So I get to see how they like living in our local assisted living place.
My dad is in a assistant living care and I'm soo ready to pull him out! Just yesterday I went into his room after a year of dealing with the pandemic! I'm vaccinated and I tell you what his room was so awful I really didn't say anything to the staff because it was useless. I'm ready to quit my job bring him home and live off his money straight up!!!
I work in a nursing home where we provide great care to people who would otherwise not be taken care of by anyone. I get so sick of people complaining about the services nursing homes provide. Most of the complaints are from people who would never consider taking care of another human being.
Dave is inaccurate about one thing. I do t need to eat at a restaurant, or buy an expensive car. But i will get old and immobile at some point in my life. So I will need a nursing home or and expensive service. Children probably can’t or won’t do it. This is the difference. Ppl need care at certain points in their lives.
Not true. I'm glad you work in one and hopefully, you give the kind of care you yourself would want. That is as it should be. When we sign up for things, it's in our best interest to do it to the best of our abilities. You may work in a nursing home where the workers care and are paid a decent/fair wage, but to take from the elderly so much is wrong. The government needs to monitor the nursing homes more. I've seen some pretty horrible things. Most generally, our Mother's and Fathers are in nursing homes, due to the fact that we as their adult children, are not physically capable of caring for them, or don't have the machinery that is needed and can't afford it ourselves. Or... adult children have to work, to take care of themselves, and in doing so, have no choice but to see their parents in a home. People really need to listen, look and learn from their surroundings, not just put a simple answer on something and be done with it, because it's clear in your mind and is so, in your mind, so it MUST be so in others. That's shallow minded and not a thoughtful person at all. Thank you Debbie for being a nursing home care taker, and I hope you do it so you can be proud of you at the end of the day. So many don't care. They just take. I apologize, this is not meant to be directed at you, but has really touched a chord in me that aches for my own 87 year old Mother's well being and safe keeping.
There is both good and bad. Unfortunately, people tend to focus on the bad, and guilt people who go that route. While some people can stay home, some really do need more care from a NH. Only a caregiver knows how that feels when trying to decide what to do. There are good NH thank G-d. Just need to search for them
I can tell you from my experience that being in a NH was a nightmare. One nurse for the whole 'hall' and basically all she did was stand at a drug dispenser all day. Two CNAs ran around all day doing the 'care' depending on what was needed. I had to throw a fit every single time I wanted a shower. I was there 2 weeks for 2 broken ankles. I had no one at home, so I had to get my house set up to be wheelchair ready and learn how to get around without my legs before I could go home. I refused to take all the meds they tried to give me to make me 'manageable' like most of the the others there. The people that got 'great care' were the ones like me that could speak for themselves, or the ones that had family there every day.
Dave you have no idea what a "Medicaid Nursing home" is like they are horrible places you never want to end up. The most common problem is people left to sit in their own waste for hours because they just don't come when you push the nurse call button. The money all goes to profits people that work there are paid minimum.
I would never dream of sending my parents to a nursing home. Financially it is not the best option. But my main concern is quality of care. I would even been worried about an inhome care provider being attentive enough. Your parents care for you when you're most vulnerable, it is your responsibility to care for them when they need you.
How do you do care for your parents and still provide for yourself and your family? You either have a spouse who provides for you, or you're wealthy and single with no dependents?
So I guess you "dream" of quitting your job, losing your income, losing your sleep and free time and health, changing your parents diapers, feeding them, and attending to their every beck and call 24/7? Even parents send kids to daycare and public school. Why would someone have to become an unpaid fulltime nurse for their parent?
LTC coverage isn’t always the answer. Some carriers got out of the business. You found your policy cancelled and no affordable replacement at age 80, after paying premiums for 20 years. What’s worse is if you need the coverage, no one wants to be in a typical nursing home.
I am a older adult woman age 71. I am having trouble enjoying the healthy years of my life because of the horrors and abuse that my 91 year mother endures in a nursing home. There are no good nursing homes in our area. One fall and there I am. Mother is on so many pain meds that she can not be managed at home anymore. I try to give mother's care over to the Lord. I try to embrace....OK, this is mother's life ...that doesn't mean it will be my life. God help the older adult.
We are so happy that my great-grandma, that passed away a short time ago, got into a good nursing home that cost a fair price. It cost 4.800 $ a month and included everything she needed, except transports to the hospital and of course hospital care. The home advised us to change the GP of my great-grandma, because next to the nursing home there was a GP's office that came by the nursing home whenever he was needed. We are sad that this nursing home is full now and we cannot get a place for my grandma now.
Most people who need "Nursing" home care need 24/7, so that can't be provided at home. Unfortunately the system is set up that it's so expensive you can't cash flow it. Of course it's mostly medicaid subsidized. Medicaid nursing homes are poorly staff with high turnover and all they want is MONEY. Yes, they provide a service but it's basic as required by state and feds. Don't confuse nursing homes with Assisted Living. You are allowed to spend money on prepaid funeral services (they'll allow you that) and medicaid won't bother with that. I agree that medicaid will look back at recent financial transactions, but people get lawyers to take care of those issues. So, the quality care you get is mostly dependent on how much money you have. If they can't stay at home, be present at the facilty as much as you can. Hire a sitter if you have to. Nursing homes are owned by investment groups. They want returns.
Look into an Elder law lawyer. They can help you apply for Medicaid Longterm assistance for a Staff Nursing Facility. They will also explain how you can protect a property (home) from being taken by the nursing home or Medicaid
Nursing home care is very expensive . But the home has to pay professional staff provide 24 hr care and have insurance in case of lawsuits by residents families or staff. The money they receive is not all profit.
Not everyone is rich like you Dave! Yes they should be paid for their services. But taking everything you have so that the spouse can’t survive is robbery.
It is called socialism for the rich. As soon as folks get money, they get real comfortable with taking advantage of gov programs so they can keep it. Everyone else just has to pull themselves up by the bootstraps.
Some people think you have to sign over all your financial assets to gain a spot in a nursing home. So if mom or dad dies in the second month after say 12,000.00 worth of services, the nursing home can take the balance of their money which has been signed over beyond actual services provided. Where does this thought process come from. I worked in a nursing home office and the clients or guardians were billed monthly. But I hear people often say they need power of attorney or everything signed over so nursing home can't take everything.
The nursing home is around $10,500 per month, and assisted living is around $16,000 a year. My fiance has been to 2 different nursing homes where I have had to go every day to feed him because no one will help him eat as he cannot feed himself. I kept him at home for 9 years until I tore my rotator cuff and bicep. He refused to put the house in my name or move some of his money to help with repairs that will be needed. I have lived with him for 21 years, but he refused to marry me to keep me financially safe. I am 68 and will never be able to retire due to helping him financially. He is 62 and has multiple system atrophy. If he lives another year he will have wiped out all his savings. Dave the nursing home ms are in shambles as I have to do a lot of his care there. The only reason I can't have him at home is because I can no longer lift him due to my injuries that I had to have operations to repair.
Good advice. Unfortunately, my mother was diagnosed with Alzheimer’s disease at 57. It impacted me in many ways, including getting a long-term healthcare policy at 54. Initially, I had lifetime coverage but at 67 I reduced it to five years. I hope I never have to use it, but I’m prepared if I do.
I had a similar experience. I bought my policy 20 years ago, but the premiums are now going up so high, that I had to reduce benefits to afford the premiums.
@@seascape35 Yes, I reduced it to five years because of the cost. Because of my age, at that point I felt five years would be adequate, but it keeps going up anyway. I think part of their plan is to increase the premiums and make it difficult for older policy holders to afford it and they are faced with decreasing the coverage. I have a dim view of insurance companies of any type at this point.
If the food and service is terrible at a restaurant, you can complain to the manager and maybe not pay anything. Even if you pay, you aren't losing that much, and it's a one-time payment. You have so many other places you can eat other than that restaurant, including your own home. There aren't as many choices when it comes to nursing home care for your loved one, and your loved one may suffer neglect for a long time before you discover there is a problem. They weren't getting the services you paid them for (otherwise there wouldn't be signs of neglect), the money is gone, and there may not be another, better nursing home that you can afford that you can go to. That's the difference.
Long term care insurance is definitely worth it if you get a good policy. I would advise that the insurance be bought asap as it will only get more expensive as the person covered gets older. The difference between the price at 70 compared to the price at 60 is huge!
Some can be nice some are not. It is a risk either way. It is nice when they were able to buy a home though and stay there while having nearby family that can check in on them. They stay intheir own place, they are not as dependant on family the same way as if they lived in the same house etc. I personally would rather stay in my own place until I die though.
Dave, Dave, Dave, you need to stick to advising on debt reduction. Those that wait to age 60 to try and buy long term care insurance most oftentimes can't afford it or can't medically qualify for it because they aren't healthy enough for the insurer to accept the risk. My wife and I bought long-term-care insurance when were 35. It costs $45 a month instead of $800-$1200 a month and provides a MUCH larger benefit. She has had 5 brain tumors in the last 8 years and required care - she is only 55 years old right now. Do better dude...
Unfortunately the host forgot to tell us that the whole LTC insurance model was insolvent. Now customers are facing 100-200% price hikes in order to keep coverage they've been paying on for years.
I had lovely experiences with both my parents in nursing homes, Alzheimer's and Parkinsons. We did lose the family farm in the deal, but...oh yeah, we are in fly over country where people love one one another. Christendom's holdout.
As of 2024 you will find it is exceedingly hard to find someone still selling Long Term Care insurance policies. Most insurance companies have off-loaded these "legacy insurance products" finding them to be NOT profitable. I bought mine from John Hancock in 2011 at age 57. By 2016 John Hancock stopped selling any new Long Term Care Polices. Everyone selling them found all the assumptions their actuaries had made about how many people would use it, how many years they would use it, the age at which they would make claims and the returns they would make on the bonds, etc they bought would return. Most all companies have left that market or the company failed all together. John Hancock is still going strong but have been raising their premiums, but our policy has inflation protection and our monthly benefit has risen from $5,000/mo in 2011 to $7,000/mo in 2024.
Question... you compair nursing homes to resturaunts. I believe this is not a fair comparison. People choose to eat at a resturaunt! They do not choose to become old! I have a idea... you work and pay your taxes and you become 65 you shouldnt pay these taxes anymore! If a young family can receive aid free of charge for having dependant children then isnt only fair that people that worked there whole lives get the respect they deserve! Veterons, mothers, fathers. Think about it!
Last Greatest I feel like let's say you have a family with like 3 kids. I think it would be hard to take your of your parents and then your family at the same time.
That's called the sandwich generation. We are left to care for young children as well as ailing parents, it's a big responsibility, especially if both parents work full time. People are waiting until they are 35 before they start having kids so by the time they have 2 or 3 children their parents are all pushing 70 or older.
Conservative Prosecutor So people shouldn't have 3 kids so that they can afford to take care of their parents? Hopefully your next comment will come from some thought and will contribute to the benefit of someone rather than proving your ignorance.
The government does not help anyone real help is the ability to do for yourself if the government really wanted to help the citizens they would stop paying for goods and services and provide real education and training so that people could work make money and take care of themselves
A Conneely real education starts with the truth when I say that we need real education I meant that schools don't teach children they indoctrinate children with lies and teach them to be like good little slaves of the world system and if they do not conform we say they have disorders like adhd and put them on drugs school should provide knowledge and teach our children to think and make informed decisions for their lives that's all
My mom and sister worked in nursing homes for many years, and my fiancee currently works in a caregiving home. I've seen how a lot of the CNA's, nurses, and caregivers treat the patients. I would never subject anyone I love to that kind of treatment. My parents took care of me and provided everything for 18 years, what kind of son would I be not to repay them when they get old and vulnerable?
We are dealing with my mom's care as she ages and has assorted maladies that require oversight, currently at home. If at home care insurance is only for $3000, that doesn't even TOUCH what the actual cost of that kind of care costs. We are facing $20K per month and trying to find a way to pay for care. It's a horrible dilemma to have to deal with.
@@SandfordSmythe yeah that's what I meant. Theyll take whatever the patient AND their spouse has. So like if your dad goes in theyll take it all so how is your mom supposed to live? They let you keep one primary residence if you have one but they want all the money the patient and spouse have
@@SandfordSmythe I havent read that law sadly but, lets say a woman has 500k in her savings account. And then her husband gets very sick and shes got to send him to a nursing home that costs 100k annually. Can she keep that 500k to live on? Serious question because my family members are going through this. What the nursing home has told us indicates that shes going to have to pay for the nursing home until that 500k runs out.
People have told me directly they refuse work because government benefits pay better and then defraud the system by accepting unreported income. There are work incentive programs to reduce dependence upon welfare.
You're not getting what you pay for. That's why people are saying these things. It's obscenely expensive for the attention and care one gets. And now that they're running them like the gestapo, family members will not be able to check on their loved ones.
Chances of you being able to purchase long term care ins at 60 or older is rare, add in the chances of you getting to 60 without some health issue that will disqualify you from getting ins are slimmer. Usually the level of care you get on a medicare/medicaid hallway is higher due to government regulations, a private pay or private ins hallway is not beholden to those same regulations and generally delivers a much lower quality of care.
So according to Dave you get the same results using his retirement strategy as you would being a social security baby? You get maybe 10 years at best of retirement before you move in with your kids and have them foot your medical bills? Where am I wrong here?
My father had funds and good care for my mother in a expensive care home . We paid extra for someone to stay with my mother the last 2 months 24 hours a day . The best personally is keep elderly home with family and personal care person for bathing diaper changing other . NO children and my niece said she will take care of me 🤣 I suggested we do a trial run . 1 month buy me groceries fix meals 1 month help me to bathroom . 1 month in bed bath diaper change stay with me 24 hours . 😫🫣 I’m looking for in home care .
I think there are a lot of misconceptions about payment to nursing homes, medicaid, insurances, etc. A lot of comments show that many people don't know what they are talking about. As in any business, you have good and bad employees, but when a facility becomes aware of negligence or abuse, they are mandated by their states Dept of Health to report this--or they could be fined. Anyone found guilty of abuse will be reported and their certification or license will be revoked (and fired). Many of you folks object to the facility using assets to cover cost, this is why the elderly scripted and saved their money--to take care of them in old age...sorry that there may not be anything left for an inheritance.
My mom and dad has put everything in a trust for us kids they didn't work their whole life to leave us with nothing if they go to a nursing home they will legally be able to get Medicaid and Medicare and when they die their children will legally still have their inheritance I think that's the smart way to go and thank God my parents are smart.
@@SandfordSmythe my dad said he would throw his self down a flight of stairs before he would let anyone put him in a nursing home. I worked at a so-called five-star nursing home it was a nightmare, I will not allow it.
hope you don't get macular degeneration, I work for a retina specialist. If my vision got so bad from aging I couldn't enjoy my videogames I'd take my own life
Dave Ramsey you can say that you make millions off all your self help books. My dad never bought any long term care for my mother now she sold her home to pay for assisted living for her Alzheimer’s. Her money is 1/3 gone. She has money in investments. Yes we put it in the 5 year look back in me and my brothers name. We haven’t had to use it yet. We will if we have to.
I have almost 30 years working in nursing homes. Thank you for this honest advice. The government would have more money to take care of people of people did not scam the system. Nursing homes have also become a place for people that could be on their own but don’t feel like taking care of themselves financially. Lazy. Thanks Dave!
Brother, how do you address a loved one you is psychosocial who can't speak for themselves while living in a nursing home during Covid? Shouldn't a member of the family be able to visit once a day?
Oh great... so either grandma needs to be on the clock because the insurance is about to run out, or else she burns through her cash and ends up a pawn for corporate welfare, all that for questionable and clearly overpriced service. But we should be ok with it because all of us have physical strength, professional knowledge, and enough time and money to take on the task of care ourselves if we don’t like the product. Am I getting this right?
Ramsey misses the important issue with nursing homes. Overall nursing home costs are covered in the following way: patient contribution and Medicaid payment ( about $4k per month if on welfare). The rest of the nursing home costs are divided among the private paying patients and added to their bills. In other words, private paying patients are 'subsidizing' the nursing home shortfalls. Eventually the private pay patients run out of money and become Medicaid patients as well. The only solution is to keep your loved one OUT of the nursing home as long as possible. Once you become a patient at a nursing home AND are private pay then you subsidize the nursing home for most of their shortfalls. Avoid the status of 'nursing home patient' to avoid these improper billings.
you pay into this system your entire working life and then when you go into a crazy over priced NH the state wants to clean out anything you would have to leave to your kids. ALSO, it's BS that "Memory Care" a term for dementia is TWICE the cost of skilled nursing when these patience are not going to regain or even maintain their memory because of some magical service provided.
The skies the limit for what nursing home and assisted living facilities can charge; there is no cap; the gov't. can't intervene and it's highway robbery! Most nursing homes are charging $8,000-$10,000 monthly in the US and this is a disgrace! And some patients will be in nursing homes longer than 3 years; (it's all independent on the individual person), so don't fool yourself! Some of these nursing home policies are as advantageous as an added service contract at a car dealership (and we know what a scam those are)! What a joke! This country has to do better and offer better for the elderly.
Medicaid Asset Protection Trust, must be set up 5 years before a long term care event. It is a irrevocable trust taking an elder law attorney to set up, $3,000-8,000. I suspect Medicaid will have to change 5 year look back to possibly to 6 or 7 to help fund Medicaid.
I'm sorry but you can't transfer your home into the name of family members before you have to leave and go into a nursing home?? That's how it least two people I know got their home and it's the only way they ever would have owned a home is it always given to them by family who was no longer going to be capable of staying in their own home
Look at the laws in your state. This type of transaction be it a house title or assests needs to be done many years in advance. I think in MI the financials go back 7 years.
My mom must have had a great nursing home insurance. We broke even but at least it was a great place and very expensive. My mom would have blown the money anyway.
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
Im 57 and in a nursing home. Im 90 percent blind, had a severe stroke, heart attack, and a host of other ailments.
I recovered from the stroke 95%, i fully have my mind about me, walk without a walker.
The NH im in is outatanding.
Compassionate care givers, great management, great activities department, though not gourmet by any means, decent enough food.
I consider myself fortunate to be in such a facility.
I am happy to hear you are in a good situation.
I spent two weeks in a NH after breaking both ankles and was unable to go home. I am 56. It was supposedly one of the best in my area. One nurse on the wing per shift, and two cnas. The nurses spent the majority of their time dispensing drugs and charting that. The cnas did everything else. I was "scheduled" two showers a week, although I got about 3 because I threw a fit about every 3 days because I really could not go any longer. The food was awful, the beds very uncomfortable. I refused all the drugs except pain meds, because I didn't want to be a zombie like most of the inmates. I am vegan, and let me tell you, If you are on a special diet, or just want nutritious food, you better be prepared to buy it!!! I could go on and on. If you have loved ones in a nursing home, make sure you go every single day and monitor what's going on! Having a physical injury, and NO diminished mental capacity, I was able to advocate for myself, I frequently told them my legs were broken, but my brain was fine!
I have worked in nursing homes for 20yrs, and mostly on the rehab halls like you were on (maybe 1 you were at) and you nailed it...but 2 cna? You were spoiled. Most have 1 nurse and 1 cna when you can find them or no cna at all.
You are right . I'm a paraplegic in a nursing home and the and yeah two showers a week if that many one or none in this place since I clean myself from my head to my frontal area and they finish the rest . During the 3rd evening and 4th over night shift gets bad since no one answers your light and when they do it's taken by a bad attitude CNAand weekends its partytime for them since no bosses are there . Well , the food here is bad but breakfast isnt bad just ask for omelets since you get real eggs not the powdered scrambled eggs which arent real eggs and no if your a vegan or on dialysis as I am , no special diet and the vegetables side dishes are still part way frozen or over cooked.
Sounds like another complainer who doesn't want to do his physical therapy exercises.
Did you have your mishap in Henniker
@@dlastmohican71definitely spoiled! My experience as a CNA staffing was NOT that
Paying a care facility a fair amount is not a problem. But, these places "feed" grossly overpaid administrators and boards that provide ZERO added medical benefit. If there is any truly fraudulent activity, it's in the medical industry's pricing structure and how they seize far more assets than services provided.
Well said!
Where I live the cheapest nursing homes are in the $12,000/month range. So people lose their entire life savings within a year or 2 often. Horrific video by Dave Ramsey who probably has off shore tax shelters that can't be touched and millions in real estate that also can;t be touched. I find this video incredibly disturbing
Norsefalconer The margin of profit for NH is very low. The NH administrator is responsible for the care of some of our most vulnerable and the actions of every employee and can lose their license over over something they didn't even know about. There are a lot of operating expenses and personnel in place to monitor and implement government regulations. It's one of the most regulated industries. Rates are set by the state and I believe private pay rates are regulated in a facility that accepts Medicaid residents. It is different for total private pay NH and assured living. Not trying to fight but it requires a lot of staff, equipment and supplies to care for older and disabled folks.
I work at an assisted living and a room here is 6,000 dollars a month. Furthermore, if a nurse Medicates you that is a 300 dollar charge. Not to mention, if you get your laundry done by the facility they charge u 300 dollars. Lastly, your on the hook for pull ups, body wash, and most of everyday supplies. Btw I’m a nurse aide and I’ve been one for 4 years. It’s scary getting old considering how expensive it gets and how most things aren’t covered. Things like dentures, hearing aides, medication and care cost a fortune. I mean they are robbing this old people blind
Right, so people's life savings is eaten up within a year or 2 unless they are multi millionaires. Yet Dave Ramsey says this is fine?
AS A CNA FOR TWENTY YEARS DO NOT SEND ANYONE YOU LOVE INTO A NURSING HOME ITS A REALLY BAD IDEAS
Explain please
@@MarksTournamentsThe cnas don't care and abuse people. They die alone, neglected, and unloved.
So where do they go?
@@itguru2037 You take care of them.
@@MarksTournaments The employees there won't care about your loved one. They will neglect their basic needs. It's likely they'll be physically abused, as well.
Avoid nursing homes at all cost!
💯 absolutely
The ones that have no accountability and lie to your Family yes avoid
Have you ever had to deal with the calif. monopoly of health care or lack of? You say purchase of a good or service? You have no legal standing in calif. if something goes wrong seriouslly?
Sometimes you don't have a choice.
My father in law paid for long term care insurance for around 20 years. Then, they raised it up 80%, yes, 80%. There is no way that he, or we, could afford to pay that. It would have been over 2K per quarter for that insurance. We had to cancel the insurance. I can't believe that it was legal for them to do that.
My father went ahead and paid the extra and when he got dementia he forgot to make a payment and they were able to cancel him after getting another 20 years payments it definitely should be illegal
I work as a cna in a nursing home and this industry is a mess. They are dumping grounds for societys most vulnerable. I'm a libertarian but this sector of healthcare needs to be nationalized and non profit.
The VA already is and it is a mess.
I've worked at a nursing home and 100%agree with you
Becoming a nurse has turned me into a communist
Never going to happen. Boomer generation is aging into the system and nationalizing it would bankrupt the country in a day.
@@phillipwombacher9635 Funny comment, but I understand.
In my area, good memory/dementia care is $8K-$9K per month, while 24/7 in-home care runs $11K-$12K per month. Pops died at home at 91 of heart failure, then Mom got dementia at 89. She’s now getting excellent care in a memory care unit.
Folks should get their financial life in order NOW while they’re still working because, chances are, we’re all gonna need some sort of life assistance someday. My folks didn’t earn big wages but they were smart with their money and their plan is paying off in a big way. The operative word here is “plan.”
I work in a nursing home and i have quite a few residents that have been there for longer than 4 or 5 years. I have people that have been at our nursing home for 10 and 15 years! Don't just assume 5 years. Dementia can hit and be a very long process.
Dave Ramsey, I respect your views on nearly everything and follow your lessons on Money. On my way to being debt free. This video frustrates me though. Have you dealt with nursing homes lately? Serious question. I've had the unfortunate visits to several in the last few years. 3 actually. All 3 different homes in different cities but the same state. None had adequate health care or basic care even. They didn't take care of the patients until we chewed out the staff. Even then they didn't do what they are supposed to. We still ended up with very large bills. I'm talking well over $100,000 and this is after portions were paid by insurance. In one instance the family lost a 100 acres farm because of the nursing home that didn't even take care of the patient. You get treated like your staying in a stocking room at Walmart and charged like your staying at the Hilton with 3 servants taking care of you 24 hours a day.
I'm hoping that you're just uneducated in this field and learn more. I'm guessing you have the means to provide in home care yourself so I doubt you'll have to deal with this and thank God you don't because they are horrible places that cut costs everywhere they can all while your loved ones suffer.
You say it's fraud for people to hide money so they can get healthcare but the true thief's are the nursing home owners that operate these facilities the way they do. People wouldn't think about hiding income if the nursing homes ran on ethical principles.
Jared Braun I’m so sorry you’ve had such poor experiences! The nursing home both my grandmothers lived in is a great facility with incredible nurses and support staff. They both received the highest level of quality, personal care for the five and six years they were there, respectively. I guess like every other industry there are good and bad businesses. Hopefully more will take a lesson from our local Lutheran Home.
Anneliese Freiny I’m very happy that your family had good experiences. I think nearly all deserve to be treated with respect if you have been on this planet for nearly a century. Unfortunately a lot of people are not treated with dignity in these homes. This is my experience and many others that I’ve talked to about it. Once again very happy your family had a better experience then we did.
I've worked as a caregiver for the elderly, so I've seen quite a few nursing homes. All I can say is, I hope I die before I ever have to be put in a nursing home.
Jared Braun Two of my grandparents are in nursing homes. My family has seen first hand that the level of care and the cost varies greatly. Long term care insurance is crucial. It pays around 50% of their monthly costs. I agree with Dave that it’s insanity to try to hide assets in order to avoid paying. It’s not only legally wrong, it’s morally wrong. I don’t know why we as a society think it’s ok and talk about it openly like it’s normal. We know the cost going in. They’re all expensive. If you run out of money, unfortunately a nursing home is no longer in the cards.
As someone who's worked in several, 100% agree. My parents worked as nurses and they said the nursing homes would fraudulently charge insurance companies.
Easy for Dave to talk like that when he is a multimillionaire. Nursing homes are awful. I wouldn't put my dog in one.
I agree 💯
Having nightmare. getting Mom out of nursing home. They have been avoiding me etc. They knew goal was to get Mom from NY to MD etc and take of her in my home. This nursing home lied to me so much.
@@leeanncornell8305 Don't give up. She took care of you now you are her advocate. Nursing homes want the money, staff don't make a lot. Other cultures take care of their old people, not our country. We look at them as a burden. They also like to up the meds for control too. I am very happy my parents did not go to a nursing home. My step mom did and it was awful. She fell and deteriorated fast. Keep fighting.
@@leeanncornell8305 I hope your Mom gets good care somewhere. I really shouldn't be in a nursing home since I'm just a paraplegic but without family to help . They do lie big time , the neglect is very high and if you call the State they pay off the offical . I have skin problems a UTI and the physical therapy they are supposed to give is a joke . My only sister wants me to move to another one but told her it's just another nightmare place and wish I could go back into assisted living where I was before I got like this . America needs to rejust itself since people need a better existence than a crummy nursing home where the places sponge Medicare and give back hardly what they are supposed to give .
It all depends on the nursing home. Some are very well run and provide excellent care to people that need advanced care.
Both of my parents taught me and my sister to take of my uncle on my dad's side (whom recovered from brain cancer surgery) and my grandmother (whom lived with Parkinson's and Alzheimer's) on my mom's side while they could not fend for themselves. The one week that my parents decided put our uncle in the nursing home while we went on a church week tour (which was just for a week), my uncle died in a nursing home. It hurt, even though he had other complications, but we VOWED to never put any of our elderly in a nursing home. So when my grandmother moved. We took care of her until the day we found she was having a heart attack and rushed her to the hospital. Samething with my dad, with his complications with Leukemic returned from remission. I refuse to put any elderly person in my family in the nursing home.
TheBlack Metal...Your family made the best decision to care for them at home. I used to worked in a nursing home as a CNA for 2 1/2 years while I was in school for my RN. The food is nasty, they gets bathed once a week per management protocols and some of the LPNs don’t even give them their medication or checking blood sugars. Just a horrible place for the elderly.
TheBlack Metal You should not have gone on that church tour. Obviously it was the wrong church and god took his vengence out on your uncle
@@sarahann530 pretty awful and mean comment
I'm a volunteer at my local VA Hospital where part of what I is work with our VA CLC (nursing home) as well as the Hospice. From time to time I also visit with veterans who were placed in a private nursing home. Some of these nursing homes are awful!
jvolstad thanks for serving in this role.
I would say from my experience working at a nursing home most of them are not up to par. However, the assisted living facilities are way better. The care is better, they have cameras, activities, the staff is amazing and the food is good. However, the only downside is the cost.
Amen to that
Many nursing homes are very overpriced and their employees are underpaid and they do steal from the residents. God forbid that you do not have anyone to come visit you if you do go into one. The staff can be very bad in those instances. State Ombudsmen for Nursing Homes tell me , a former nurse, and then Church Administrative Assistant, that the nursing homes are not mandated to have a certain amount of staff to patients. Many are very understaffed with people who have little education and some are abusive. This has to change as the population ages. The only ones making money are the administrators and owners of the nursing homes.
J Lee as a nurse aide I can attest to that. Most nursing homes have a high turn over rate, the staff is over worked, underpaid, burned out, there is a lack of staff to patient ratio and there’s a lot of abuse that goes on!
1.Most states require criminal background on prospective new employees.
2. Nursing homes are regulated by that stars Dept of Health. One of the regs require certain nursing care hours per day, facility can be fined if hours are not made.
3. All nursing homes are required to provide nurse aide education ( nurses complete this on their own) throughout the year, so that they maintain their certification.
Most people would rather die than live in a nursing home. Its a black eye on America how we deal with our elderly. Totally not that way in other countries!
Sarah Burggraf It's just as bad in UK so sad
Sarah, do you of a country who has a good model or system. I would love to read about it. Im asking very genuinely.
Nursing homes aren't that bad
Not about other countries, its about historically how the elderly were cared for. Honor your mom and dad includes don't stick them in a home. How is it more affordable for anyone anyway? These ppl end up owing their hard won family estate (read run down property to the snobs) to the govt to pay for a nursing home, it's sick. If you don't appreciate it as the kids, then sell it yourselves and set up your home/property for mom and dad with the money.
@@AM-ru5lh pretty much anything Asian
I'm not saying long term care insurance isn't a good thing, it is. However, most of the people I see at the nursing home I work at have been at have been there for more than 3 years.
Rich people like Dave are heavily invested in nursing homes and elder care as it's such a growth industry.
Why is there no mention of asset protection or the value for money.
Nursing home = death sentence
I used to work in nursing homes, I call them pre cemetery
Dave, when I go out to eat or go buy a vehicle, I pretty much know upfront the cost and value of what I am getting. I am getting my money’s worth. Not so much with a Nursing Home. $10,000 a month for awful care from understaffed facilities because they pay their caregivers squat and the people at the top bank it. It is really a very poor analogy and most likely one that your family will never have to deal with.
My job was Director of Social Services in a nursing home. Don’t confuse Medicare skilled coverage with Medicaid. Medicaid is long term but remember, if you decide to impoverish Mom, it’s unlikely she will be going to a quality facility. The more difficult her care is, the worse chance of a decent home taking her. The private rate might be $250/day. The Medicaid rate closer to $170. Do the math……if someone goes in, pays privately for a reasonable length of time, many facilities will continue to provide care at the Medicaid rate but please. Don’t move money around. You might benefit at the expense of your mother’s quality of care.
Good Nursing home care is about $5,000 plus a month. They are better off living in their own home with care.
It is getting people to come into your home that is the issue. Sometimes, that does not go well.
Where I live the cheapest nursing homes are $in the $12,000/month range and having someone all day at the house is anywhere between $4,000 and $6,000/month or more or double that if 24 hours. Every Dave Ramsey fan should recognize that this is a horrific video and his advice should be completely ignored. People are best off getting a good elder law attorney and planning ahead well in advance or they run the risk of losing every hard earned dollar they ever earned. Within a few years, the person who worked hard for 50 years will have no more than the person who never worked a day in his life. And Dave Ramsey is fine with this??? And he's religious???
Most people don’t have the luxury to choose
What Ramsey is saying is get the insurance. In home care depends on what the care is. Sometimes the home isn’t best place, for instance it could have stairs, or obstacles.
It isnt so easy. I work on a dementia unit and most of my residents require multiple people caring for them. They can get combative, become fall risks and many other things. I would also like to point out that nursing homes are not "grown up orphanages" as many think. Staff become very close with residents they see daily and we grow to know their ways and love them a good nursing home worker has a place in her/his heart for all the residents and we really do aim to provide them with the best physical and mental care that we can. Nursing homes get bad reputations but there is a lot of love in those places and we try hard to really give good care of mind body and soul.
When we had to put my mother into an assisted living program, the home tried to take all of my mother's money up front. My sister said no, and paid the bill every month.
They actually came to my house to drive me to the bank to get them money
Both of my grandmothers and my great aunt were/have been in a nursing homes for over five years. Way to be overachievers, Ladies! And thank you to the FABULOUS staff at both of their facilities! Nursing home staff are an incredible bunch of people doing some of the most difficult work out there! ❤️
Please appreciate that excellent facility and care was was a highly unusual. Almost unique.
I’ve always liked you and your advice. I must say in this case I hope listeners seek advice from a “financial Medicaid planner” to protect their home at least. These Nursing homes are definitely overcharging for the care they give and that’s the real problem! I’ve seen it, soo I don’t have one issue with people financially planning so they can qualify for Medicaid, until someone figures that Mess out. It’s criminal actually, i’m not sure most your middle class people can afford long-term care insurance those premiums are through the roof. Our medical system is broken here in the United States and people are seriously overcharged and it needs to stop.
Most are an evil monopoly
Do you honestly think any health care costs in the US are fair???? Ever stayed at a hospital? Ever had a major surgery done or even a minor one? Your doctor will charge you $100 (on average) to spend 20 minutes in a room and he comes and maybe visits with you for 5 minutes... maybe... Most of the 20 minutes in the 'room' that they send you to is you waiting. It's all messed up. Also, the staff at the nursing facility are not making the money. THe ones doing the heavy care make nothing. ...The owers are probably out of state. They're making the money.
I work at a facility that is considered top notch in an expensive part of town. I still will never put my mother there. The people that run the place treat the residents like they should thank their lucky stars to stay there or they can leave. Plus 90% of the staff are foreigners who barely speak English and don't really care about the residents. Its so sad
Must be nice to be filthy rich and be able to sit up on your high horse and judge everyone else
@@jakeford1570 💯
If you love your parents do not send your loved one to a nursing home. From my experience as a nurse aide. I will say abuse on the elderly exist, the turnover rate is high, the aides are underpaid, and most of the staff is overworked!!! Not to mention, the amount of aides to patient ratio is down right illegal. You’ll have one aide to 30 residents no lie.
I’ve seen a staff member in a nursing home hit a resident. I’ve seen staff not provide showers or toilet/change someone. I’ve seen staff not feed a resident or check on them. I’ve seen someone leave a resident on a bedpan for hours 😢😡😡😡😡
If you love your parents I’d recommend assisted living or private care. Assisted living is quite expensive. However, they have activities, you have your own apartment, cameras to monitor staff and residents, adequate staff, the abuse is non existent and the food is good 👌 and private care you can keep an eye 👁 on whether your parent is being taken care of! Since aides come to you.
assisted living IS a nursing home. not everyone has the ability to care for an elderly family member. some people work 12 hours a day, don't have the facilities nor space to take care of an elderly person and I'm not giving my own grandmother a sponge bath.
Brian Best. I used to work in one as well and what you are saying is sad but true. I am saving up now to help take care of my parents. I have two others and I always stress to them...we have to get things right now so we can take care of our parents. I refuse to put my parents in a nursing home
I trust your advice and experience with nursing homes; but I also know quite a few people who live in assisted care facilities, and you are right...they love it. They can opt to cook their own food in their apt or eat the food provided in the cafeteria (which is usually heavily subsidized to $2 or $3 a meal). They have activities, it's safe, and yes, abuse is non-existent. I provide (one of many thru our small-town senior citizen place) free trips to medical apts, dental apts, and just about any other places they need to go to (including shopping)...completely free of charge. So I get to see how they like living in our local assisted living place.
My dad is in a assistant living care and I'm soo ready to pull him out! Just yesterday I went into his room after a year of dealing with the pandemic! I'm vaccinated and I tell you what his room was so awful I really didn't say anything to the staff because it was useless. I'm ready to quit my job bring him home and live off his money straight up!!!
@@thedubbman4453 easier said than done, taking care of sick family is insanely hard
I work in a nursing home where we provide great care to people who would otherwise not be taken care of by anyone. I get so sick of people complaining about the services nursing homes provide. Most of the complaints are from people who would never consider taking care of another human being.
Dave is inaccurate about one thing. I do t need to eat at a restaurant, or buy an expensive car. But i will get old and immobile at some point in my life. So I will need a nursing home or and expensive service. Children probably can’t or won’t do it. This is the difference. Ppl need care at certain points in their lives.
Not true. I'm glad you work in one and hopefully, you give the kind of care you yourself would want. That is as it should be. When we sign up for things, it's in our best interest to do it to the best of our abilities. You may work in a nursing home where the workers care and are paid a decent/fair wage, but to take from the elderly so much is wrong.
The government needs to monitor the nursing homes more. I've seen some pretty horrible things. Most generally, our Mother's and Fathers are in nursing homes, due to the fact that we as their adult children, are not physically capable of caring for them, or don't have the machinery that is needed and can't afford it ourselves. Or... adult children have to work, to take care of themselves, and in doing so, have no choice but to see their parents in a home.
People really need to listen, look and learn from their surroundings, not just put a simple answer on something and be done with it, because it's clear in your mind and is so, in your mind, so it MUST be so in others. That's shallow minded and not a thoughtful person at all.
Thank you Debbie for being a nursing home care taker, and I hope you do it so you can be proud of you at the end of the day. So many don't care. They just take.
I apologize, this is not meant to be directed at you, but has really touched a chord in me that aches for my own 87 year old Mother's well being and safe keeping.
There is both good and bad. Unfortunately, people tend to focus on the bad, and guilt people who go that route. While some people can stay home, some really do need more care from a NH. Only a caregiver knows how that feels when trying to decide what to do. There are good NH thank G-d. Just need to search for them
I can tell you from my experience that being in a NH was a nightmare. One nurse for the whole 'hall' and basically all she did was stand at a drug dispenser all day. Two CNAs ran around all day doing the 'care' depending on what was needed. I had to throw a fit every single time I wanted a shower. I was there 2 weeks for 2 broken ankles. I had no one at home, so I had to get my house set up to be wheelchair ready and learn how to get around without my legs before I could go home. I refused to take all the meds they tried to give me to make me 'manageable' like most of the the others there. The people that got 'great care' were the ones like me that could speak for themselves, or the ones that had family there every day.
@@anniesshenanigans3815 everyone knows a nursing home has a nurse to oversea meds and the CNAs do everything else.
Dave you have no idea what a "Medicaid Nursing home" is like they are horrible places you never want to end up. The most common problem is people left to sit in their own waste for hours because they just don't come when you push the nurse call button. The money all goes to profits people that work there are paid minimum.
Here in upstate NY the state run nursing home is $13,000 a month...the private ones go up from there.
I would never dream of sending my parents to a nursing home. Financially it is not the best option. But my main concern is quality of care. I would even been worried about an inhome care provider being attentive enough. Your parents care for you when you're most vulnerable, it is your responsibility to care for them when they need you.
How do you do care for your parents and still provide for yourself and your family? You either have a spouse who provides for you, or you're wealthy and single with no dependents?
@@penguin12902 I do in home daycare so for me it is possible. I'm sure for some it isn't as easy.
I couldn’t do it. I’m single and have to work. 😢
@@eatenvegan1565 Would you be willing to wash your father's privates?
So I guess you "dream" of quitting your job, losing your income, losing your sleep and free time and health, changing your parents diapers, feeding them, and attending to their every beck and call 24/7? Even parents send kids to daycare and public school. Why would someone have to become an unpaid fulltime nurse for their parent?
all these nursing home stories in the comment section are pretty sad honestly.
LTC coverage isn’t always the answer. Some carriers got out of the business. You found your policy cancelled and no affordable replacement at age 80, after paying premiums for 20 years. What’s worse is if you need the coverage, no one wants to be in a typical nursing home.
I am a older adult woman age 71.
I am having trouble enjoying the healthy years of my life because of the horrors and abuse that my 91 year mother endures in a nursing home. There are no good nursing homes in our area.
One fall and there I am.
Mother is on so many pain meds that she can not be managed at home anymore.
I try to give mother's care over to the Lord.
I try to embrace....OK, this is mother's life ...that doesn't mean it will be my life.
God help the older adult.
We are so happy that my great-grandma, that passed away a short time ago, got into a good nursing home that cost a fair price.
It cost 4.800 $ a month and included everything she needed, except transports to the hospital and of course hospital care.
The home advised us to change the GP of my great-grandma, because next to the nursing home there was a GP's office that came by the nursing home whenever he was needed.
We are sad that this nursing home is full now and we cannot get a place for my grandma now.
They do steal money
Most people who need "Nursing" home care need 24/7, so that can't be provided at home. Unfortunately the system is set up that it's so expensive you can't cash flow it. Of course it's mostly medicaid subsidized. Medicaid nursing homes are poorly staff with high turnover and all they want is MONEY. Yes, they provide a service but it's basic as required by state and feds. Don't confuse nursing homes with Assisted Living.
You are allowed to spend money on prepaid funeral services (they'll allow you that) and medicaid won't bother with that. I agree that medicaid will look back at recent financial transactions, but people get lawyers to take care of those issues.
So, the quality care you get is mostly dependent on how much money you have. If they can't stay at home, be present at the facilty as much as you can. Hire a sitter if you have to. Nursing homes are owned by investment groups. They want returns.
Yup...visit as much as you to keep an eye on things...that's with anything in life.
That is what I'm going through right now- and my mother is really not someone I want to deal with- I could just cut off my head.
Look into an Elder law lawyer. They can help you apply for Medicaid Longterm assistance for a Staff Nursing Facility. They will also explain how you can protect a property (home) from being taken by the nursing home or Medicaid
Nursing home care is very expensive . But the home has to pay professional staff provide 24 hr care and have insurance in case of lawsuits by residents families or staff. The money they receive is not all profit.
Not everyone is rich like you Dave! Yes they should be paid for their services. But taking everything you have so that the spouse can’t survive is robbery.
It is called socialism for the rich. As soon as folks get money, they get real comfortable with taking advantage of gov programs so they can keep it. Everyone else just has to pull themselves up by the bootstraps.
My step grandma has dementia and my grandpa said it would cost his life savings to put her in a nursing home.
Some people think you have to sign over all your financial assets to gain a spot in a nursing home. So if mom or dad dies in the second month after say 12,000.00 worth of services, the nursing home can take the balance of their money which has been signed over beyond actual services provided. Where does this thought process come from. I worked in a nursing home office and the clients or guardians were billed monthly. But I hear people often say they need power of attorney or everything signed over so nursing home can't take everything.
nursing homes are awful!!!! my momma was in one for two days and one night came back with an awful infection on her leg.
The nursing home is around $10,500 per month, and assisted living is around $16,000 a year. My fiance has been to 2 different nursing homes where I have had to go every day to feed him because no one will help him eat as he cannot feed himself. I kept him at home for 9 years until I tore my rotator cuff and bicep. He refused to put the house in my name or move some of his money to help with repairs that will be needed. I have lived with him for 21 years, but he refused to marry me to keep me financially safe. I am 68 and will never be able to retire due to helping him financially. He is 62 and has multiple system atrophy. If he lives another year he will have wiped out all his savings. Dave the nursing home ms are in shambles as I have to do a lot of his care there. The only reason I can't have him at home is because I can no longer lift him due to my injuries that I had to have operations to repair.
The nursing homes in my area cost $8000 to $12000 month
I thought the average high end nursing homes were 5k a month. Are these nursing homes on Fantasy Island?
🕵️♂️"Look Boss:
Da-Plane
Da-Plane
@@jayrider2726 Nope. That’s right here in the U.S. of A. Tracy is correct on the cost for memory care in my area, unfortunately.
Dave must own some stock in nursing homes.
Nursing homes are terribly depressing. Worked in one that was honestly terrible. Never want to ever live in one that’s for sure
Dave you need to go visit and see how badly aides are treated and patients.
The nursing home system is very broken
Good advice. Unfortunately, my mother was diagnosed with Alzheimer’s disease at 57. It impacted me in many ways, including getting a long-term healthcare policy at 54. Initially, I had lifetime coverage but at 67 I reduced it to five years. I hope I never have to use it, but I’m prepared if I do.
I had a similar experience. I bought my policy 20 years ago, but the premiums are now going up so high,
that I had to reduce benefits to afford the premiums.
@@seascape35 Yes, I reduced it to five years because of the cost. Because of my age, at that point I felt five years would be adequate, but it keeps going up anyway. I think part of their plan is to increase the premiums and make it difficult for older policy holders to afford it and they are faced with decreasing the coverage. I have a dim view of insurance companies of any type at this point.
If the food and service is terrible at a restaurant, you can complain to the manager and maybe not pay anything. Even if you pay, you aren't losing that much, and it's a one-time payment. You have so many other places you can eat other than that restaurant, including your own home. There aren't as many choices when it comes to nursing home care for your loved one, and your loved one may suffer neglect for a long time before you discover there is a problem. They weren't getting the services you paid them for (otherwise there wouldn't be signs of neglect), the money is gone, and there may not be another, better nursing home that you can afford that you can go to. That's the difference.
Long term care insurance is definitely worth it if you get a good policy. I would advise that the insurance be bought asap as it will only get more expensive as the person covered gets older. The difference between the price at 70 compared to the price at 60 is huge!
Exactly...and that's IF you can still get it. Don't think Dave realizes this.
Some can be nice some are not. It is a risk either way. It is nice when they were able to buy a home though and stay there while having nearby family that can check in on them. They stay intheir own place, they are not as dependant on family the same way as if they lived in the same house etc. I personally would rather stay in my own place until I die though.
Ramsey does not say it is a racket, it is. They get money for the hospital racket, after the doctors have stole his money or the govt medicare.
I signed up for nursing home insurance at work when I was in my 40's. I get it dirt cheap because I signed up so early.
Dave, Dave, Dave, you need to stick to advising on debt reduction. Those that wait to age 60 to try and buy long term care insurance most oftentimes can't afford it or can't medically qualify for it because they aren't healthy enough for the insurer to accept the risk. My wife and I bought long-term-care insurance when were 35. It costs $45 a month instead of $800-$1200 a month and provides a MUCH larger benefit. She has had 5 brain tumors in the last 8 years and required care - she is only 55 years old right now. Do better dude...
Unfortunately the host forgot to tell us that the whole LTC insurance model was insolvent. Now customers are facing 100-200% price hikes in order to keep coverage they've been paying on for years.
I had lovely experiences with both my parents in nursing homes, Alzheimer's and Parkinsons. We did lose the family farm in the deal, but...oh yeah, we are in fly over country where people love one one another. Christendom's holdout.
As of 2024 you will find it is exceedingly hard to find someone still selling Long Term Care insurance policies. Most insurance companies have off-loaded these "legacy insurance products" finding them to be NOT profitable. I bought mine from John Hancock in 2011 at age 57. By 2016 John Hancock stopped selling any new Long Term Care Polices. Everyone selling them found all the assumptions their actuaries had made about how many people would use it, how many years they would use it, the age at which they would make claims and the returns they would make on the bonds, etc they bought would return. Most all companies have left that market or the company failed all together. John Hancock is still going strong but have been raising their premiums, but our policy has inflation protection and our monthly benefit has risen from $5,000/mo in 2011 to $7,000/mo in 2024.
Question... you compair nursing homes to resturaunts. I believe this is not a fair comparison. People choose to eat at a resturaunt! They do not choose to become old! I have a idea... you work and pay your taxes and you become 65 you shouldnt pay these taxes anymore! If a young family can receive aid free of charge for having dependant children then isnt only fair that people that worked there whole lives get the respect they deserve! Veterons, mothers, fathers. Think about it!
My husband was in long term care, locked altziemer's unit for "6 years" !!!!!!!!! Nothing left for me !
Why can't children take care of their parents? Where is the Love?
Last Greatest I feel like let's say you have a family with like 3 kids. I think it would be hard to take your of your parents and then your family at the same time.
That's called the sandwich generation. We are left to care for young children as well as ailing parents, it's a big responsibility, especially if both parents work full time. People are waiting until they are 35 before they start having kids so by the time they have 2 or 3 children their parents are all pushing 70 or older.
Conservative Prosecutor If you're going to be a troll, please don't leave any commets. People obviously have 3 kids for multiple reasons.
Conservative Prosecutor So people shouldn't have 3 kids so that they can afford to take care of their parents?
Hopefully your next comment will come from some thought and will contribute to the benefit of someone rather than proving your ignorance.
Conservative Prosecutor 3 kids isn’t that much. But can get hectic
Apparently Dave doesn't believe the government should help people?
Skeet Fletcher It’s an easy position to have when you’re wealthy =/
The government does not help anyone real help is the ability to do for yourself if the government really wanted to help the citizens they would stop paying for goods and services and provide real education and training so that people could work make money and take care of themselves
Andrew Sherman What is real education?
A Conneely real education starts with the truth when I say that we need real education I meant that schools don't teach children they indoctrinate children with lies and teach them to be like good little slaves of the world system and if they do not conform we say they have disorders like adhd and put them on drugs school should provide knowledge and teach our children to think and make informed decisions for their lives that's all
Andrew Sherman
OK , what is the truth ?
My parents are going back to our home country to retire. Retirement homes are not worth it 🤔
INVESTING HUSTLER - Stocks Money Entertainment are you a professional troll?
where are they from
I see him in a lot of videos always with 15 likes or so. He clearly bots his stupid comments.
Thats also what my parents will do. Nursing home here in the US is not worth it...
INVESTING HUSTLER - Stocks Money Entertainment what’s so bad about retirement homes compared to other countries?
My mom and sister worked in nursing homes for many years, and my fiancee currently works in a caregiving home. I've seen how a lot of the CNA's, nurses, and caregivers treat the patients. I would never subject anyone I love to that kind of treatment. My parents took care of me and provided everything for 18 years, what kind of son would I be not to repay them when they get old and vulnerable?
You weren't helpless and sick for 18 years
A lot of companies are dumping long term care to new users due to the unforeseen costs
Dave will recommend anything that he can "clip the ticket" on.
What do you mean by "clip the ticket"?
@@1dkidd still waiting for that response
Maybe it's a derivation so it should be "clip it or ticket"? 🤔
We are dealing with my mom's care as she ages and has assorted maladies that require oversight, currently at home. If at home care insurance is only for $3000, that doesn't even TOUCH what the actual cost of that kind of care costs. We are facing $20K per month and trying to find a way to pay for care. It's a horrible dilemma to have to deal with.
Where do you live and what are the necessary care conditions that you're paying 20k a month?
How are you handling it now? Still private pay, or Medicaid?
@@billvigus3719 The patient lives in CA
And we do not even have 24 hr care... that' s for daily 12 hr care and some needed extensions.
@@donnadrastata7349 still private. Medicaid is not available to us.
Gotta agree with him on trying to move the assets. Pay your bills folks. Wanna give your kids money, do it now.
Honestly so grateful for the NHS here in the UK
Does NHS pay for nursing home care? In America medicaid will pay but not until they take every bit of money the family has first.
@@imveryhungry112 Nursing homes only take the assets of the resident.
@@SandfordSmythe yeah that's what I meant. Theyll take whatever the patient AND their spouse has. So like if your dad goes in theyll take it all so how is your mom supposed to live? They let you keep one primary residence if you have one but they want all the money the patient and spouse have
@@imveryhungry112 There is the federal "Spousal Improvishment Act" that addresses this issue.
@@SandfordSmythe I havent read that law sadly but, lets say a woman has 500k in her savings account. And then her husband gets very sick and shes got to send him to a nursing home that costs 100k annually. Can she keep that 500k to live on? Serious question because my family members are going through this. What the nursing home has told us indicates that shes going to have to pay for the nursing home until that 500k runs out.
In Ohio long term skilled nursing home care is 15k per month.
Would be curious to know how Dame Ramsey feels about Life Plan communities or CCRCs
If the costs get to high, the market may tempt people to take a permanent retirement.
People have told me directly they refuse work because government benefits pay better and then defraud the system by accepting unreported income. There are work incentive programs to reduce dependence upon welfare.
Exactly! That's what I was thinking when he said that too. I've known those types of people.
Unless you are disabled it's not even worth considering. Cheaper to own own house and be debt free
You're not getting what you pay for. That's why people are saying these things. It's obscenely expensive for the attention and care one gets. And now that they're running them like the gestapo, family members will not be able to check on their loved ones.
Chances of you being able to purchase long term care ins at 60 or older is rare, add in the chances of you getting to 60 without some health issue that will disqualify you from getting ins are slimmer. Usually the level of care you get on a medicare/medicaid hallway is higher due to government regulations, a private pay or private ins hallway is not beholden to those same regulations and generally delivers a much lower quality of care.
Wow...didn't know that about the private pay hallways. Thanks.
as a nurse who has worked most of their career in nursing homes I would kill myself before I went to a nursing home
So according to Dave you get the same results using his retirement strategy as you would being a social security baby? You get maybe 10 years at best of retirement before you move in with your kids and have them foot your medical bills? Where am I wrong here?
If you have kids you shouldn’t even think of nursing home if you raised them right 😊
You under under estimate the care that can be needed.
My father had funds and good care for my
mother in a expensive care home . We paid extra for someone to stay with my
mother the last 2 months 24 hours a day .
The best personally is keep elderly home with family and personal care person for bathing diaper changing other .
NO children and my niece said she will take care of me 🤣 I suggested we do a trial run . 1 month buy me groceries fix meals 1 month help me to bathroom . 1 month in bed bath diaper change stay with me 24 hours . 😫🫣
I’m looking for in home care .
I think there are a lot of misconceptions about payment to nursing homes, medicaid, insurances, etc. A lot of comments show that many people don't know what they are talking about. As in any business, you have good and bad employees, but when a facility becomes aware of negligence or abuse, they are mandated by their states Dept of Health to report this--or they could be fined. Anyone found guilty of abuse will be reported and their certification or license will be revoked (and fired). Many of you folks object to the facility using assets to cover cost, this is why the elderly scripted and saved their money--to take care of them in old age...sorry that there may not be anything left for an inheritance.
The investigators or licensing staff (state or feds) are ineffective, overworked, and biased.
My mom and dad has put everything in a trust for us kids they didn't work their whole life to leave us with nothing if they go to a nursing home they will legally be able to get Medicaid and Medicare and when they die their children will legally still have their inheritance I think that's the smart way to go and thank God my parents are smart.
And the quality of the Medicaid nursing home?
@@SandfordSmythe my dad said he would throw his self down a flight of stairs before he would let anyone put him in a nursing home. I worked at a so-called five-star nursing home it was a nightmare, I will not allow it.
uh, medicade care and nursing home costs are collected from the estate when both elders die, sometimes.Leins are put on homes.
Skip the insurance.... take care of your health... live well... and go out on your terms.... not rotting in a nursing home.
Husband is 66, wife is 63, and has $2M net worth. Do we need long term care insurance for both of us? Or self-insure?
If you don't have long term care insurance you will have to spend your own money for that care.
I can't wait to get old. I'mma just play all my old video games and maybe modern ones. I'm sure GTA MXVVI will let me immersse my body in the game.
You just keep telling yourself that. Soon... RUDE AWAKENING.
hope you don't get macular degeneration, I work for a retina specialist. If my vision got so bad from aging I couldn't enjoy my videogames I'd take my own life
Never in a billion years would I trust nurses.
thats a pretty long time though
you're a hot mess
Dave Ramsey you can say that you make millions off all your self help books. My dad never bought any long term care for my mother now she sold her home to pay for assisted living for her Alzheimer’s. Her money is 1/3 gone. She has money in investments. Yes we put it in the 5 year look back in me and my brothers name. We haven’t had to use it yet. We will if we have to.
This is why I always keep a round chambered in my pistol, when i get to that stage in life I'm taking the honorable way out.
Don't leave a mess for your family.
@@SandfordSmythe don't worry won't forget the tarp 👍
I have almost 30 years working in nursing homes. Thank you for this honest advice. The government would have more money to take care of people of people did not scam the system. Nursing homes have also become a place for people that could be on their own but don’t feel like taking care of themselves financially. Lazy. Thanks Dave!
Brother, how do you address a loved one you is psychosocial who can't speak for themselves while living in a nursing home during Covid? Shouldn't a member of the family be able to visit once a day?
Oh great... so either grandma needs to be on the clock because the insurance is about to run out, or else she burns through her cash and ends up a pawn for corporate welfare, all that for questionable and clearly overpriced service. But we should be ok with it because all of us have physical strength, professional knowledge, and enough time and money to take on the task of care ourselves if we don’t like the product. Am I getting this right?
Ramsey misses the important issue with nursing homes. Overall nursing home costs are covered in the following way: patient contribution and Medicaid payment ( about $4k per month if on welfare). The rest of the nursing home costs are divided among the private paying patients and added to their bills. In other words, private paying patients are 'subsidizing' the nursing home shortfalls. Eventually the private pay patients run out of money and become Medicaid patients as well. The only solution is to keep your loved one OUT of the nursing home as long as possible. Once you become a patient at a nursing home AND are private pay then you subsidize the nursing home for most of their shortfalls. Avoid the status of 'nursing home patient' to avoid these improper billings.
you pay into this system your entire working life and then when you go into a crazy over priced NH the state wants to clean out anything you would have to leave to your kids. ALSO, it's BS that "Memory Care" a term for dementia is TWICE the cost of skilled nursing when these patience are not going to regain or even maintain their memory because of some magical service provided.
State?, you mean the tax payers.
Its called Medicaid planning, not fraud.
What's the point of Medicaid ?
The skies the limit for what nursing home and assisted living facilities can charge; there is no cap; the gov't. can't intervene and it's highway robbery! Most nursing homes are charging $8,000-$10,000 monthly in the US and this is a disgrace! And some patients will be in nursing homes longer than 3 years; (it's all independent on the individual person), so don't fool yourself! Some of these nursing home policies are as advantageous as an added service contract at a car dealership (and we know what a scam those are)! What a joke! This country has to do better and offer better for the elderly.
Medicaid Asset Protection Trust, must be set up 5 years before a long term care event. It is a irrevocable trust taking an elder law attorney to set up, $3,000-8,000. I suspect Medicaid will have to change 5 year look back to possibly to 6 or 7 to help fund Medicaid.
$8k-10k to get a crappy place to live but someone who didn’t bust their ass gets it for free. Dave has a different interpretation of a rip-off.
I'm sorry but you can't transfer your home into the name of family members before you have to leave and go into a nursing home?? That's how it least two people I know got their home and it's the only way they ever would have owned a home is it always given to them by family who was no longer going to be capable of staying in their own home
Look at the laws in your state. This type of transaction be it a house title or assests needs to be done many years in advance. I think in MI the financials go back 7 years.
Thank me for paying for your parents so you can keep the inheritance.
My mom must have had a great nursing home insurance. We broke even but at least it was a great place and very expensive. My mom would have blown the money anyway.
How expensive per year?