For those of us without family - Who will take care of you ?

Thank you for this clear statement.
In our case, moving to a CCRC would mean living in a small apartment and stretching our finances to the limit.
In a hospital stay we saw that the majority of the people helping us spoke English as a second language. These are the people the Federal administration is pushing out of the country. I wonder who will staff the CCRCs when they are gone?
Living in an area with a large college population, we have the possibility of hiring students for certain needs. There's an organization of students who offer home help services.

Very good question. Our attorney put us on a path that I followed until I arrived at a company called Family Life Solutions, which was established years ago to help people get through the morass of applying for Long Term Care benefits. It was expensive ($7,500) but at that point I was totally incapable of taking it on myself—just too many major things to do, and my husband simply couldn’t help me. So I bit the bullet and used the company to whack through the bushes, and they did—very high level of success with others and with us. I hired them for a second year at $5,000, and they have continued to manage the process for me, but I have learned enough now to take it on from this point forward. Obviously, insurance companies are not in business to give money out, so the process of getting approval is long and complex. I probably could have managed it myself, but circumstances had overwhelmed me at that point, and I just didn’t have it in me to try. So I dipped into our limited resources to hire out the process, and in another year or so, we will have recouped the cost. Your premiums stop when you are approved for care, so that is a big help, and there are other financial benefits, as well. However, the bottom line for me is that we are getting the help we need for now, and that allows us to stay in our home. I don’t pretend to be an expert about this, but maybe I have helped you a little—hope so. Bette

This is very helpful. Where in Minnesota is this? I would like to be near Rochester- for Mayo. Thank you so much!

There's a brand new coop going up in Lakeville. It's called Estoria Lakeville. It's going to be managed by Ebenezer. Lakeville is not far from Rochester. It will cost you $300k to buy in for two bedroom plus den. I can't spend that much and I want to be in the metro do I am looking at 7500 York.

Look at Estoria website. They are part of Ebenezer and they build luxury senior cooperatives.

So the older coops might cost you $60k to buy in but they are older buildings. If you can afford $300k go for the brand new cooperatives and you pick your finishings. You can go high end luxury.

Also check our Artessa cooperatives. These people are building a senior cooperative where you can get a boat slip on Lake Minnetonka. That's where the real money is in Minnesota. I have no idea how much that costs to buy in.

We bought Long Term care insurance 20 or so years ago. At that time, it was pretty simple. Just an assurance that you were currently independent. The premiums keep going up, but it was a life server, or more exactly, a house saver when my husband developed Alzheimer’s. And so, he passed after 3 years in memory care. Because of the increasing premiums I am always tempted to discontinue mine when the annual bill comes in, but then say, “ah, no. Let’s pay it.”

Thank you for all the thoughtful replies. My husband and I are not low income but we are not rich either. We are in an expensive area. My recollection was that the CCRC expected us to have assets around $1 million. This is just my recollection. I really appreciated Ginger123's insight about hiring housekeepers and care staff while staying in our house. In the case of dementia or a long illness, I think it is advantageous to own your own home if one of you has to go on Medicaid. You have to spend down all your assets to $300 but you are allowed your house. There are really a lot of concerns to think about.

They let you both stay in the home while on Medicaid. But after both spouses pass there will be a Medicaid lien on the home. Then the beneficiaries have to pay off the lien before they get the home. But the government won't kick out the surviving house after the first spouse passes. Sounds like you might need an elder law attorney.

Where is this?