Quote:
Originally Posted by RamAirBirds
William,
Would love to hear comments on the last post about the insurance / copays. I know it is off topic a little but was hoping to understand a little better how this could have happened.
I DO know that LONG TERM care can completely wipe out a persons savings before medicAID kicks in. That is a travesty in itself, even if there is a surviving spouse they will "spend down" most of your savings / assets before they start to pay for a persons long term care. Probably not a fun topic vs. cars and garages but......
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Actually, you would be better off discussing this with your agent or a family lawyer. I do hear of extreme cases like William brought up, but it seems those cases didn't have adequate insurance or the maximum out of pocket clause, like you do. We have these clauses too and have been assured we would never lose all our investments and savings for a serious illness/injury. BUT, never say never.
I learned the hard way, that if someone thinks you have deep enough pockets to make it worth their time and cost to get it, there is always a way to get around damn near any law designed to prevent just that from happening.