We are 82 and 84 and stable living independently. We have a LTC policy at $300/3 years for my wife and $300/3 years home health care for me, the husband. Since there is a 5 year lookout period, how can we decide on a MAPT?
You decide by seeing a really respected and good attorney. Best of luck, as we are simple caregivers who are in all likelihood without a clue. Fill us in when you are knowledgeable; it will be a great asset on this forum.
$300 per day for each of you may not go as far as you think it will. One aide will not be able to take care of both if you become severely impaired and unless you are talking well over seven figures it may lock up assets a spouse needs. Talk with an attorney about spousal protection strategies. $300 is 10 hours care at $30 per hour to agency. How will you pay the rest of the bill if it’s locked up?
Best of luck, as we are simple caregivers who are in all likelihood without a clue.
Fill us in when you are knowledgeable; it will be a great asset on this forum.
You need to consult an Elder Law attorney who is familiar with Medicaid regs in your state.
It's "look-back", not "lookout".