VA only. No Medicare or private ins. We have caregiver help, but he is declining and will need to go into a home when I can no longer manage. How do we do that without Medicaid (income too high), and no private insurance (fixed income too low). Having never been ill, he saw no need for Medicare when he retired and declined private insurance (too costly). To take Medicare now, he must make up all the missed payments: 204 months x$109 = $22, 236, which works out to about $1800/mo now for Medicare. Obviously, that is not an option. His life insurance is just enough for cremation, nothing to convert to long-term care. We are on a tight fixed income - even smaller now, because I spend most of my time caring for him. Where do we get financial help to help him get the care he needs when I can no longer provide it? We are in that mid-level, financial sink hole: too much income, but not enough. Advice please.
In this instant, this husband put his wife between a rock and a hard place. Her only option maybe a VA home.
Medicare, your right, is out of the ? budget wise to be an option. Hopefully others read your post and understand how important it can be to sign up for Medicare at 65. Penalty is astounding. I wonder how often this happens?
Let us know what legal suggests. We all learn from each other. Thanks!
I opted out of part B when I turned 65, because I lived out of the country and couldn't use it. When I was 71, I reinstated it, and I pay $160/month for it (6 year penalty, 10%/year = $60 penalty). It will cost me more over a lifetime if I live into my 90s, but I didn't realize that when I opted out. Figured it out later. But $160 isn't bad. Sure isn't $750!
Ten years ago I spoke to the Social Security people, and they said it would cost about $750/month - THEN - for him to 'make up' lost years. Today he is 82. The math does not work out in his favor. We can try again - maybe the law has changed?
1845 S. Townsend Ave.
Montrose, CO 81401
Administrator: Stephanie Holsinger
Main Phone: 970-252-7076
FAX: 970-252-5049
Website: www.co.montrose.co.us/107/Health-Human-Services
Waivers by State - Centers for Medicare & Medicaid Services https://www.cms.gov/outreach-and-education/american-indian-alaska-native/aian/ltss-roadmap/resources/state-federal-relationships/1915c-Waivers-by-State.html#colorado