A nursing home will run you $7k+ per month in typical cases.
Direct experience w/ my Dad, in a fairly low cost area part of the country.
A nursing home will run you $7k+ per month in typical cases.
Medicare DOES NOT pay for nursing home care or having a private caregiver come to your house. Medicare pays for hospital bills, doctor bills and prescriptions—but no long term care (custodial care, feeding, bathing etc.)
If you sign up in your 40’s and don’t already have chronic medical conditions, your premiums will be low and will stay relatively low. The longer you wait to apply, the more likely it is that you will start experiencing chronic diseases (assc. with aging) which will drive your premiums sky high. The insurance companies look for things like debilitating rheumatoid arthritis, fibromyalgia, diabetes, heart disease, dementia, Parkinson’s etc.
Mr. Roo Roo and I pay about $100 apiece in premiums, benefit is about $7500 per month, up to a $500k max. Prudential is the insurer. We’ve been paying premiums for over 20 years.