Should 96 year old go to lower supplemental health insurance benefit? ?
$0 premium has maximum lifetime benefit (MLB) of only $50,000. $589/ month ($7,068) has MLB of $500,000. In 36 years, including what is estimated to be paid out this year, they will have paid about $41,000.
Looking over past, the most they ever paid out on a year was still less than $7,000, and that was an unusual situation, where she fell downstairs and spent two months between hospital and nursing home.
Not sure what to do. If she goes down, she cannot upgrade again. Looking for insight.
- Casey YLv 74 weeks ago
If you are willing to spend your cash to pay for her treatment at the end, no big deal. That's the bet you are making here.
Realistically, Stephen is correct in that the costs for the end will likely be pretty high.
Had she exceeded the 90 days of Medicare...that nursing home time would have added up very quickly
- StephenWeinsteinLv 71 month ago
Not now. About half of a person's lifetime heath care costs occur during the last year of the person's life. So, even if they haven't paid out much yet, that's just because those years were more than one year before the year in which she will die. Since she's now 96, she's getting close to the last year of her life, when the payout is likely to be much larger.