I am so sorry you are having to go through this. I hope you and your family are able to enjoy the added time you hopefully will get and in retrospect you decide it was worth it.
And when you need a lot of care your out of pocket for an advantage plan is far higher than with a supplement. Of course then the odds are far lower that you will pass medical underwriting to be able to switch. While you can switch each year without medical underwriting in a handful of states, in most you can not.
The other thing that would help SS is more young legal immigrants who hold good jobs. That would increase the number of workers to retired people drawing from social security. As boomers our population bubble breaks a lot of things.
My mother just died after living to 9, of which 6.5 years of that was in assisted living and then a nursing home. She has hospice for 3 weeks. Fortunately she had 6.5 years of long term care insurance. I look at that, and that I have failed medical underwriting for decades such that I can't get long term care insurance. As a result I need to plan for that worst case. What percent I can safely spend depends on what I assets I have, their fluctuating value, planning for worst case and what the economy will do. We boomers break everything we touch, our retirement will be no different, including the stock market (remember a bit over 50% of that is made up of money invested by retirement accounts and when we have to take money out the generations below us aren't going to replace it at the rate we are taking it out). And of course that is also influenced by health (I have an indolent cancer with no cure so the odds are against me living until 97 but the odds of high medical expenses are certainly there (medicare D comes to mind, as does sky rocketing deductibles with B, premiums with D and supplements...as boomers age and become sicker and sicker...). I don't have an answer but I have plans to make sure I have a good cushion, I'd rather under spend and leave money on the table than over spend and end up on medicaid and in a medicaid nursing home.
The last thing is that carriers are closing a ton of advantage plans (MAP). Those folks can switch to whomever they want without undergoing medical underwriting (called guaranteed issue). The sicker will move to supplements as in the long run they are cheaper (MAP's usually have very large out of pocket maximums) which will drive up those premiums due to adverse selection. The rest will move to other MAP's as the premiums are cheaper and they aren't using their insurance much. YET. When they do have to use it more the odds are against them being able to pass medical underwriting to switch. Then the only way out is switch to an MAP that is likely going to be terminated (a lot are going to be in some markets in 2026 - the lists are starting to come out) so that they then can have guaranteed issue to switch to a supplement.
And the irony is that they call them "free" benefits. Their G without those things (available in some states but not all) are significantly cheaper. So much for free.
And if you fail medical underwriting you will discover all sorts of things in your medical record that is wrong!!! Who knew I had chronic pancreatitis (had it once 9 years ago), diabetes with neuropathy (only have neuropathy which is hereditary and not even pre-diabetic) and the list goes on and on. Fixing this stuff is a nightmare. For medical underwriting the health facility needs to issue a medicare billing correction, you can't just fix it in your medical record.
And, at least with United Health Care, which is community rated in my state, they give declining discounts to people as they get older. As a result my premiums go up June 1 each year and when I get a year older (due to the declining discount).
They will need driven to doctor apts, someone needs to buy clothes, shampoo, etc. Once in assisted living most of their friendship circle vanishes and while moving may be traumatic for other reasons, they are going to need to rebuild friendships - which are usually the other people in assisted living. The problem is if they are mentally together many of the people there are not and it can be really discouraging to them.
Comments
I am so sorry you are having to go through this. I hope you and your family are able to enjoy the added time you hopefully will get and in retrospect you decide it was worth it.
Post: Risky Business
Link to comment from August 30, 2025
And networks can change from year to year as well.
Post: 100% Base Pay Replacement: What Does It Mean?
Link to comment from August 23, 2025
And when you need a lot of care your out of pocket for an advantage plan is far higher than with a supplement. Of course then the odds are far lower that you will pass medical underwriting to be able to switch. While you can switch each year without medical underwriting in a handful of states, in most you can not.
Post: 100% Base Pay Replacement: What Does It Mean?
Link to comment from August 23, 2025
The other thing that would help SS is more young legal immigrants who hold good jobs. That would increase the number of workers to retired people drawing from social security. As boomers our population bubble breaks a lot of things.
Post: Does Social Security work?
Link to comment from August 23, 2025
My mother just died after living to 9, of which 6.5 years of that was in assisted living and then a nursing home. She has hospice for 3 weeks. Fortunately she had 6.5 years of long term care insurance. I look at that, and that I have failed medical underwriting for decades such that I can't get long term care insurance. As a result I need to plan for that worst case. What percent I can safely spend depends on what I assets I have, their fluctuating value, planning for worst case and what the economy will do. We boomers break everything we touch, our retirement will be no different, including the stock market (remember a bit over 50% of that is made up of money invested by retirement accounts and when we have to take money out the generations below us aren't going to replace it at the rate we are taking it out). And of course that is also influenced by health (I have an indolent cancer with no cure so the odds are against me living until 97 but the odds of high medical expenses are certainly there (medicare D comes to mind, as does sky rocketing deductibles with B, premiums with D and supplements...as boomers age and become sicker and sicker...). I don't have an answer but I have plans to make sure I have a good cushion, I'd rather under spend and leave money on the table than over spend and end up on medicaid and in a medicaid nursing home.
Post: Is 4.7% the New 4% Safe Withdrawal Rate
Link to comment from August 23, 2025
The last thing is that carriers are closing a ton of advantage plans (MAP). Those folks can switch to whomever they want without undergoing medical underwriting (called guaranteed issue). The sicker will move to supplements as in the long run they are cheaper (MAP's usually have very large out of pocket maximums) which will drive up those premiums due to adverse selection. The rest will move to other MAP's as the premiums are cheaper and they aren't using their insurance much. YET. When they do have to use it more the odds are against them being able to pass medical underwriting to switch. Then the only way out is switch to an MAP that is likely going to be terminated (a lot are going to be in some markets in 2026 - the lists are starting to come out) so that they then can have guaranteed issue to switch to a supplement.
Post: Seeking Input on Medicare Supplement Carriers
Link to comment from August 9, 2025
And the irony is that they call them "free" benefits. Their G without those things (available in some states but not all) are significantly cheaper. So much for free.
Post: Seeking Input on Medicare Supplement Carriers
Link to comment from August 9, 2025
And if you fail medical underwriting you will discover all sorts of things in your medical record that is wrong!!! Who knew I had chronic pancreatitis (had it once 9 years ago), diabetes with neuropathy (only have neuropathy which is hereditary and not even pre-diabetic) and the list goes on and on. Fixing this stuff is a nightmare. For medical underwriting the health facility needs to issue a medicare billing correction, you can't just fix it in your medical record.
Post: Seeking Input on Medicare Supplement Carriers
Link to comment from August 9, 2025
And, at least with United Health Care, which is community rated in my state, they give declining discounts to people as they get older. As a result my premiums go up June 1 each year and when I get a year older (due to the declining discount).
Post: Seeking Input on Medicare Supplement Carriers
Link to comment from August 9, 2025
They will need driven to doctor apts, someone needs to buy clothes, shampoo, etc. Once in assisted living most of their friendship circle vanishes and while moving may be traumatic for other reasons, they are going to need to rebuild friendships - which are usually the other people in assisted living. The problem is if they are mentally together many of the people there are not and it can be really discouraging to them.
Post: How to minimize the caregiving burden on our adult children when we need help?
Link to comment from August 9, 2025