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My mom currently is living independently, but her health continues to slowly decline. I'd like to keep her independent as long as possible. Currently she receives a retirement check, which does cover her cost of living right now, and she has Medicare with a great supplemental plan. I assume Medicare does not help pay for at home care or rehab ever? I'm looking at purchasing an at home care insurance policy for her. Does anyone recommend or not recommend this? It's $100 per month, so it seems doable financially. The benefit does run out after so many hours used (almost 1 year with a caretaker coming in 3 days a week). Seems reasonable if we ever do have to use, since it could potentially keep her in her nice apartment 1 more year and decrease burden if I'm ever feeling some strain as a caregiver. Thanks so much for your advice!

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I was gonna say what igloo said. Did you read the fine print for any of the policies you’ve looked at? These type of policies usually have to be purchased years in advance otherwise you will pay an extremely high monthly premium. And if you buy one around the time it’s needed, there is usually a waiting period so you can’t use the policy as soon as you get it. I would be shocked if you could purchase a policy now for $1200 a year and be able to use it within the next year.
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AlvaDeer Nov 2020
OP thinks that medicaid will help with in home care payment? (see response to me below).
Worried, is that true. That would surprise me. At least payment in any amount that would help anything.
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So a policy for $1,200 a year (12 mos x $100 a mo.) will pay caregiver to come to your mothers house and do caregiving 3 days a week?

Yeah sure and I’m getting back into my size 6 slacks.

If it’s only 1/2 day x 3 days a week that’s 48 hrs a month for $100.
Roughly $ 2.00 a hr.
No way any legit biz is doing this.
Maybe in some 3rd world country will someone work for USD $2.00 a day, but even then your going to have a lil maids space or room adjacent to the kitchen and family provides meals and housing. Reread “policy” in detail. No way $100 mo pays for 3 days a week caregiver.
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AlvaDeer Nov 2020
Sorry, because you dislike when I agree with you, but, PERFECT! And you made me laugh so hard!
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My aunt had such a policy and ended up having her housekeeper and the housekeeper's daughters as her extremely competent caregivers. The plan wouldn't pay them because they weren't certified/registered caregivers, so their pay came out of my aunt's pocket.

I'd just put away the money for that purpose if you want, because you really just don't know what the situation will be when she needs care. You need to have flexibility to use the funds.
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AlvaDeer Nov 2020
There you go. The old RN trick. They will pay 10.00 an hour for an RN that will cost 80.00 and hour. In other words, not happening.
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If she truly needs in home care I don'[t think 3 days a week will cut it for her. And I would be VERY careful of the fine print on any policy for LTC. They are trickier than a reverse mortgage. I know of more than a few that can't even be accessed because the LTC says that to cover a care facility there must be an RN on duty 24/7. THAT doesn't happen in any ALF, and not even in all Nursing Homes. So just take great care. This is when reading and understanding the fine print language is crucial.
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AMuller Nov 2020
Thank you for your feedback. Correct, my mother does not qualify for a LTC plan, but it sounds as if she would qualify for an at home care plan. From my understanding, only Medicaid helps pay for at home care (not medicare or the supplemental medicare plan). I suspect she will only start using Medicaid when she goes into a LTC facility, so for now, while she can afford her living expenses...I thought the additional assistance for an at home care plan may benefit her...so that we do not have to apply for Medicaid until it's necessary (once she does have to go into LTC facility)?
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