Long-term care insurance

How do folks evaluate the opportunity cost of long-term care insurance?  It's medical insurance for a supportive environment and/or aides for daily-functioning when one is no longer able to do them on one's own.  Think bathing, dressing, eating, taking medications, etc.

Premiums are based on one's age and state of health at signup (lower the younger and healthier you are).  Insurance companies petition states for periodic rate increases.  My concern  is the amount of the rate increase, as our policy increased 25% in 2014 (from 2007's baseline) and another 25% in 2018.   I wonder if care increased this much in these time periods!

One can purchase an inflation rider (where the daily coverage limit increases a fixed percentage each year) as well as a spousal survival benefit rider (when one spouse dies, the other's policy is paid for).  

How else might one invest the premium $ to be available for these type of large expenses 20, 30, 40, or 50 years down the road?  What other options are available?  What makes sense? 

A reader on the YNAB Fans! Facebook page recommends consulting an elder law attorney (she is one!) who knows how qualifying for Medicaid works (which she thinks is a reasonable alternative).  I'm overwhelmed just sorting through the list of possible elder law attorneys in my area!

Thanks for your thoughts!!

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