bogey21
TUG Member
I hope many Tuggers have looked into Long Term Care Insurance.
Not a true medical policy but a Home Care (or nursing home) payment product for a period of time.
The alternative I chose to Long Term Care Insurance was to move into a CCRC (Continuing Care Retirement Community) when I reached age 65 (18 years ago). Contractually the CCRC is required to provide Assisted Living if/when I need it. My monthly fee includes an apartment, utilities, food, cleaning, etc. When I subtract the LTC premiums I don't have to pay and take into account that 25% of my monthly payment is tax deductible as Prepaid Medical Expenses I have both security and a bargain. The only downside is the Front End Fee I had to pay when I signed up but if I divide it by 18 (the number of years I have been here) it becomes relatively insignificant...
George