Politics Decoded

Goodbye Nursing Homes?

52% of all women and 33% of all men who are now 65 will spend their last years in a nursing home

Nursing home care costs about $40,000 per year

68% of nursing home income is Medicaid


If the Republican budget plan ever gets enacted; you won’t have the safety net that seniors have now.

If the worst possible scenario happens and you have to use up all your assets for nursing home care, Medicaid won’t automatically pay the bill.      

 
Can you afford to buy long-term care insurance?  A 55-year-old couple now buying three years of $150-a-day coverage might pay $2,860 a year for a policy.  Meanwhile, John Hancock wants to hike premiums by about 40% and MetLife stopped selling long-term care insurance.  

Or will you have to depend on your children in your old age?

See "Republican Budget" page here.

See "Goodbye Medicare?" page here.