Quote:
Originally Posted by GenuineRisk
Thisthisthis.
I shake my head when people grouse about the inheritance tax, which will not affect any but the very wealthy, completely ignoring the fact that the cost of health care in this country amounts to a 100 percent inheritance tax on the middle class, since the majority of people incur most of their health care costs in the last six months of life and it often eats up whatever they might have had left for their descendants.
My parents' health care costs are absolutely eating up everything my dad spent his life saving for retirement. A relative who just passed away was paying $700 a month for her health insurance premium. She was regularly down to $20 in her checking account a day or so before the next SS payment came in.
|
another issue that has yet to be tackled....
we are living longer and longer--who's going to pick up the tab for end of life care? right now, you spend down til you're indigent and then medicaid pays-medicare doesn't after 90 days. so after 3 months, if you have to stay-you have to dig really deep. if you're married, spouse can stay in home-and keep one car. the rest have to be sold. life insurance with cash value? you have to either cash it in and give the money to the nursing home, or sign it over to the funeral home.
the average nursing home is over $6k a month for a semi-private room. that's just to stay, that doesn't include any medical care, etc. average length of stay, 2 years.