Americans spend around $500 billion annually on Long-Term Care, the average length of stay is around three years, and people must spend down their assets to almost nothing before going on Medicaid.
If a Medicare beneficiary does not “join” or “switch” to another MAPD plan, they will automatically be switched back to Original Medicare. Hopefully they are speaking with
someone who can deliver the bad news in a palatable way and explore all available options.
A lot of people say they are going to self insure for long-term care, but don’t actually have a plan to do it. Many people are uninsurable, and their only choice is to self insure.
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