Why many of you won't be getting your parents home.

[techs]

http://news.yahoo.com/s/csm/20061226/ts_csm/amedicaid

In the face of soaring Medicaid costs, Tennessee and every other state are required to set up a Medicaid estate-recovery program. Many have been launched only recently, and some - like Tennessee's - are becoming more aggressive. Often, they target the home because it's all that's left after beneficiaries have spent their assets to pay for nursing-home care.

States base their programs on a 1993 federal law mandating that they recover what Medicaid spends on a beneficiary's long-term care. Congress approved the law to prevent states from forcing the sale of beneficiaries' homes while they were still living, in case their conditions improve and they can return home, says Mary Kahn, spokeswoman for the Centers for Medicare and Medicaid Services.

James Napier and his family were shocked to receive a letter from the state of Texas about his ex-wife's home after she died in May 2005. She spent the last two months of her life in a nursing home. Now the family owes Medicaid $5,600


Ok, kids. Listen up. Does your Medicare plan cover long term care? Almost certainly NOT.
So if your parents need to go into a nursing home, after whatever short term coverage you have, will cost them 2,800 a month each, if they use the one in the above article. And 2,800 is for a Medicaid facility and is a low price.
Think how easy it will be for one or two parents needing only 2-3 years of care in a nursing home to completely drain the value of thier homes.

And you thought you were going to get that house, didn't you?
Ha Ha. I rent so your parents house is going to help pay to keep my cost down. Thanks

 

[Genx87]

Stupid people will blindly run down that path. The people you will claim are helped by getting those evil rich people.

The rest of us will find ways around this by selling the assets and giving the money away early, putting them into trusts, ect.

But this should be a warning to all all of us that the nanny staters think that private property is now fair game for the state to gobble up in its bid to become an all encompassing giant.

 

[techs]

Originally posted by: Genx87
Stupid people will blindly run down that path. The people you will claim are helped by getting those evil rich people.

The rest of us will find ways around this by selling the assets and giving the money away early, putting them into trusts, ect.

But this should be a warning to all all of us that the nanny staters think that private property is now fair game for the state to gobble up in its bid to become an all encompassing giant.

So you are saying people should give away their assets and go on Medicaid and let the government pay for their long term care?
Why should I pay for your parents care? And I guess you don't mind your parents going to the state run nursing home instead of the private one. As long as you keep your house.
Talk about sucking off the government!!!

 

[steppinthrax]

Originally posted by: techs
http://news.yahoo.com/s/csm/20061226/ts_csm/amedicaid

In the face of soaring Medicaid costs, Tennessee and every other state are required to set up a Medicaid estate-recovery program. Many have been launched only recently, and some - like Tennessee's - are becoming more aggressive. Often, they target the home because it's all that's left after beneficiaries have spent their assets to pay for nursing-home care.

States base their programs on a 1993 federal law mandating that they recover what Medicaid spends on a beneficiary's long-term care. Congress approved the law to prevent states from forcing the sale of beneficiaries' homes while they were still living, in case their conditions improve and they can return home, says Mary Kahn, spokeswoman for the Centers for Medicare and Medicaid Services.

James Napier and his family were shocked to receive a letter from the state of Texas about his ex-wife's home after she died in May 2005. She spent the last two months of her life in a nursing home. Now the family owes Medicaid $5,600


Ok, kids. Listen up. Does your Medicare plan cover long term care? Almost certainly NOT.
So if your parents need to go into a nursing home, after whatever short term coverage you have, will cost them 2,800 a month each, if they use the one in the above article. And 2,800 is for a Medicaid facility and is a low price.
Think how easy it will be for one or two parents needing only 2-3 years of care in a nursing home to completely drain the value of thier homes.

And you thought you were going to get that house, didn't you?
Ha Ha. I rent so your parents house is going to help pay to keep my cost down. Thanks

One of the problems in this country is the low value we place on old people. In counteries like China you almost always never see nursing homes. It is expected from the children of those parents to take care of them. But in this country the youth of society finds it strange to do so. This has been going on in China for 100s of years and they don't have this same problem as we do. They also live significatnely longer then us. As far as Nuring home being expensive what in the hell kind of price do you expect if someone is taking care of your room, meals, electricity, medical, dental etc....

 

[smack Down]

Originally posted by: steppinthrax

Originally posted by: techs
http://news.yahoo.com/s/csm/20061226/ts_csm/amedicaid

In the face of soaring Medicaid costs, Tennessee and every other state are required to set up a Medicaid estate-recovery program. Many have been launched only recently, and some - like Tennessee's - are becoming more aggressive. Often, they target the home because it's all that's left after beneficiaries have spent their assets to pay for nursing-home care.

States base their programs on a 1993 federal law mandating that they recover what Medicaid spends on a beneficiary's long-term care. Congress approved the law to prevent states from forcing the sale of beneficiaries' homes while they were still living, in case their conditions improve and they can return home, says Mary Kahn, spokeswoman for the Centers for Medicare and Medicaid Services.

James Napier and his family were shocked to receive a letter from the state of Texas about his ex-wife's home after she died in May 2005. She spent the last two months of her life in a nursing home. Now the family owes Medicaid $5,600


Ok, kids. Listen up. Does your Medicare plan cover long term care? Almost certainly NOT.
So if your parents need to go into a nursing home, after whatever short term coverage you have, will cost them 2,800 a month each, if they use the one in the above article. And 2,800 is for a Medicaid facility and is a low price.
Think how easy it will be for one or two parents needing only 2-3 years of care in a nursing home to completely drain the value of thier homes.

And you thought you were going to get that house, didn't you?
Ha Ha. I rent so your parents house is going to help pay to keep my cost down. Thanks

One of the problems in this country is the low value we place on old people. In counteries like China you almost always never see nursing homes. It is expected from the children of those parents to take care of them. But in this country the youth of society finds it strange to do so. This has been going on in China for 100s of years and they don't have this same problem as we do. They also live significatnely longer then us. As far as Nuring home being expensive what in the hell kind of price do you expect if someone is taking care of your room, meals, electricity, medical, dental etc....

The life expetency in china is 6 years lower then the US. A family simple can not provided the needed car for most old people. Alot of them need 24 care in china they die before they get to that point.

 

[smack Down]

Originally posted by: techs
http://news.yahoo.com/s/csm/20061226/ts_csm/amedicaid
Whine Whine Whine, About not getting enough goverment hand outs.

 

[Vic]

This is not new. We have known for years that my GF's grandmother's house will be going straight to the state of California when she passes away.

Sadly, this just demonstrates the socialists entitlement fantasy world, where people are forced to purchase products for their own good, tricked into believing that they're getting something for nothing. They rip on the rich and income blah blah blah while all they while the ignore that it is not income that is wealth, but assets, and here they come to take the family home. So the divide between rich and poor grows ever greater even as income taxes get higher. Coincidence? Hell no.

 

[imported_Lothar]

Originally posted by: steppinthrax

Originally posted by: techs
http://news.yahoo.com/s/csm/20061226/ts_csm/amedicaid

In the face of soaring Medicaid costs, Tennessee and every other state are required to set up a Medicaid estate-recovery program. Many have been launched only recently, and some - like Tennessee's - are becoming more aggressive. Often, they target the home because it's all that's left after beneficiaries have spent their assets to pay for nursing-home care.

States base their programs on a 1993 federal law mandating that they recover what Medicaid spends on a beneficiary's long-term care. Congress approved the law to prevent states from forcing the sale of beneficiaries' homes while they were still living, in case their conditions improve and they can return home, says Mary Kahn, spokeswoman for the Centers for Medicare and Medicaid Services.

James Napier and his family were shocked to receive a letter from the state of Texas about his ex-wife's home after she died in May 2005. She spent the last two months of her life in a nursing home. Now the family owes Medicaid $5,600


Ok, kids. Listen up. Does your Medicare plan cover long term care? Almost certainly NOT.
So if your parents need to go into a nursing home, after whatever short term coverage you have, will cost them 2,800 a month each, if they use the one in the above article. And 2,800 is for a Medicaid facility and is a low price.
Think how easy it will be for one or two parents needing only 2-3 years of care in a nursing home to completely drain the value of thier homes.

And you thought you were going to get that house, didn't you?
Ha Ha. I rent so your parents house is going to help pay to keep my cost down. Thanks

One of the problems in this country is the low value we place on old people. In counteries like China you almost always never see nursing homes. It is expected from the children of those parents to take care of them. But in this country the youth of society finds it strange to do so.

I couldn't have said it any better :thumbsup:
The idea of shoving your own parents in a nursing home rather than taking care of them is ridiculous.

 

[SarcasticDwarf]

Originally posted by: smack Down

Originally posted by: steppinthrax

Originally posted by: techs
http://news.yahoo.com/s/csm/20061226/ts_csm/amedicaid

In the face of soaring Medicaid costs, Tennessee and every other state are required to set up a Medicaid estate-recovery program. Many have been launched only recently, and some - like Tennessee's - are becoming more aggressive. Often, they target the home because it's all that's left after beneficiaries have spent their assets to pay for nursing-home care.

States base their programs on a 1993 federal law mandating that they recover what Medicaid spends on a beneficiary's long-term care. Congress approved the law to prevent states from forcing the sale of beneficiaries' homes while they were still living, in case their conditions improve and they can return home, says Mary Kahn, spokeswoman for the Centers for Medicare and Medicaid Services.

James Napier and his family were shocked to receive a letter from the state of Texas about his ex-wife's home after she died in May 2005. She spent the last two months of her life in a nursing home. Now the family owes Medicaid $5,600


Ok, kids. Listen up. Does your Medicare plan cover long term care? Almost certainly NOT.
So if your parents need to go into a nursing home, after whatever short term coverage you have, will cost them 2,800 a month each, if they use the one in the above article. And 2,800 is for a Medicaid facility and is a low price.
Think how easy it will be for one or two parents needing only 2-3 years of care in a nursing home to completely drain the value of thier homes.

And you thought you were going to get that house, didn't you?
Ha Ha. I rent so your parents house is going to help pay to keep my cost down. Thanks

One of the problems in this country is the low value we place on old people. In counteries like China you almost always never see nursing homes. It is expected from the children of those parents to take care of them. But in this country the youth of society finds it strange to do so. This has been going on in China for 100s of years and they don't have this same problem as we do. They also live significatnely longer then us. As far as Nuring home being expensive what in the hell kind of price do you expect if someone is taking care of your room, meals, electricity, medical, dental etc....

The life expetency in china is 6 years lower then the US. A family simple can not provided the needed car for most old people. Alot of them need 24 care in china they die before they get to that point.

Yup. In the US it is not at all uncommon for people to live the last few years of their lives more or less in a hospital (whether it be an actual one or an "assisted living community"). In other countries people either can't afford to do this or have no desire to do so, and die.

 

[Vic]

Originally posted by: steppinthrax

Originally posted by: techs
http://news.yahoo.com/s/csm/20061226/ts_csm/amedicaid

In the face of soaring Medicaid costs, Tennessee and every other state are required to set up a Medicaid estate-recovery program. Many have been launched only recently, and some - like Tennessee's - are becoming more aggressive. Often, they target the home because it's all that's left after beneficiaries have spent their assets to pay for nursing-home care.

States base their programs on a 1993 federal law mandating that they recover what Medicaid spends on a beneficiary's long-term care. Congress approved the law to prevent states from forcing the sale of beneficiaries' homes while they were still living, in case their conditions improve and they can return home, says Mary Kahn, spokeswoman for the Centers for Medicare and Medicaid Services.

James Napier and his family were shocked to receive a letter from the state of Texas about his ex-wife's home after she died in May 2005. She spent the last two months of her life in a nursing home. Now the family owes Medicaid $5,600


Ok, kids. Listen up. Does your Medicare plan cover long term care? Almost certainly NOT.
So if your parents need to go into a nursing home, after whatever short term coverage you have, will cost them 2,800 a month each, if they use the one in the above article. And 2,800 is for a Medicaid facility and is a low price.
Think how easy it will be for one or two parents needing only 2-3 years of care in a nursing home to completely drain the value of thier homes.

And you thought you were going to get that house, didn't you?
Ha Ha. I rent so your parents house is going to help pay to keep my cost down. Thanks

One of the problems in this country is the low value we place on old people. In counteries like China you almost always never see nursing homes. It is expected from the children of those parents to take care of them. But in this country the youth of society finds it strange to do so. This has been going on in China for 100s of years and they don't have this same problem as we do. They also live significatnely longer then us. As far as Nuring home being expensive what in the hell kind of price do you expect if someone is taking care of your room, meals, electricity, medical, dental etc....

That's not so much cultural as it is economic. Go back before the implementation of Social Security in America and the post-WWII economic booms and the situation was much the same here. And people in China don't live longer than in the US. And if they did, it would be diet not care.

 

[smack Down]

Originally posted by: Vic
This is not new. We have known for years that my GF's grandmother's house will be going straight to the state of California when she passes away.

Sadly, this just demonstrates the socialists entitlement fantasy world, where people are forced to purchase products for their own good, tricked into believing that they're getting something for nothing. They rip on the rich and income blah blah blah while all they while the ignore that it is not income that is wealth, but assets, and here they come to take the family home. So the divide between rich and poor grows ever greater even as income taxes get higher. Coincidence? Hell no.

So now making people pay for there own care is a socialist entitlement.

No one is being forced to go to nursing homes, and no one is being tricked to think that nursing home care is free.

 

[beyoku]

Originally posted by: Vic

Originally posted by: steppinthrax

Originally posted by: techs
http://news.yahoo.com/s/csm/20061226/ts_csm/amedicaid

In the face of soaring Medicaid costs, Tennessee and every other state are required to set up a Medicaid estate-recovery program. Many have been launched only recently, and some - like Tennessee's - are becoming more aggressive. Often, they target the home because it's all that's left after beneficiaries have spent their assets to pay for nursing-home care.

States base their programs on a 1993 federal law mandating that they recover what Medicaid spends on a beneficiary's long-term care. Congress approved the law to prevent states from forcing the sale of beneficiaries' homes while they were still living, in case their conditions improve and they can return home, says Mary Kahn, spokeswoman for the Centers for Medicare and Medicaid Services.

James Napier and his family were shocked to receive a letter from the state of Texas about his ex-wife's home after she died in May 2005. She spent the last two months of her life in a nursing home. Now the family owes Medicaid $5,600


Ok, kids. Listen up. Does your Medicare plan cover long term care? Almost certainly NOT.
So if your parents need to go into a nursing home, after whatever short term coverage you have, will cost them 2,800 a month each, if they use the one in the above article. And 2,800 is for a Medicaid facility and is a low price.
Think how easy it will be for one or two parents needing only 2-3 years of care in a nursing home to completely drain the value of thier homes.

And you thought you were going to get that house, didn't you?
Ha Ha. I rent so your parents house is going to help pay to keep my cost down. Thanks

One of the problems in this country is the low value we place on old people. In counteries like China you almost always never see nursing homes. It is expected from the children of those parents to take care of them. But in this country the youth of society finds it strange to do so. This has been going on in China for 100s of years and they don't have this same problem as we do. They also live significatnely longer then us. As far as Nuring home being expensive what in the hell kind of price do you expect if someone is taking care of your room, meals, electricity, medical, dental etc....

That's not so much cultural as it is economic. Go back before the implementation of Social Security in America and the post-WWII economic booms and the situation was much the same here. And people in China don't live longer than in the US. And if they did, it would be diet not care.

I dont know, i think thats up to debate. I would say it IS cultural. There is no way to check the answer to this question but i would doubt that those in a nursing home are 1st 2nd generation immigrants. People should get around this though and start assigning those assets earlier.

 

[Craig234]

If our resources were limited, there's nothing wrong with our programs staying in their means, and people giving up their houses to pay for long term care, since society can't afford it as a government benefit.

But the thing is, our government serving the ultra wealthy and allowing their wealth to skyrocket at the expense of the rest of society, and things like our corrupt, bloated military budget and the republican debt causing large interest payments, are depriving most Americans of huge amounts of money which could pay for this.

 

[Vic]

Originally posted by: smack Down

Originally posted by: Vic
This is not new. We have known for years that my GF's grandmother's house will be going straight to the state of California when she passes away.

Sadly, this just demonstrates the socialists entitlement fantasy world, where people are forced to purchase products for their own good, tricked into believing that they're getting something for nothing. They rip on the rich and income blah blah blah while all they while the ignore that it is not income that is wealth, but assets, and here they come to take the family home. So the divide between rich and poor grows ever greater even as income taxes get higher. Coincidence? Hell no.

So now making people pay for there own care is a socialist entitlement.

No one is being forced to go to nursing homes, and no one is being tricked to think that nursing home care is free.

That's not what I said at all. You must have missed the part about "fantasy world," i.e. There Ain't No Such Thing As A Free Lunch.

 

[XMan]

Do inheritance taxes apply to family homes?

 

[Craig234]

Originally posted by: XMan
Do inheritance taxes apply to family homes?

Yes. Note that democrats are in favor of increasing exemptions around this to decrease the liability to the inheritance tax around family homes for people.

They are at odds with republicans who want to abolish the tax.

 

[XMan]

Originally posted by: Craig234

Originally posted by: XMan
Do inheritance taxes apply to family homes?

Yes. Note that democrats are in favor of increasing exemptions around this to decrease the liability to the inheritance tax around family homes for people.

They are at odds with republicans who want to abolish the tax.

What with the rise in property values, they're going to need to get to work on those exemptions . . .

I never have understood the inheritance tax. You've already paid taxes on your assets throughout your life, then once you die it's suddenly time for the government to get another bite? No thanks.

 

[jackschmittusa]

Well, if I get to the point where I need to go to a nursing home long term, just let me die. Quality of life is very important to me.

 

[Vic]

Originally posted by: XMan

Originally posted by: Craig234

Originally posted by: XMan
Do inheritance taxes apply to family homes?

Yes. Note that democrats are in favor of increasing exemptions around this to decrease the liability to the inheritance tax around family homes for people.

They are at odds with republicans who want to abolish the tax.

What with the rise in property values, they're going to need to get to work on those exemptions . . .

I never have understood the inheritance tax. You've already paid taxes on your assets throughout your life, then once you die it's suddenly time for the government to get another bite? No thanks.

I have the opposite opinion. I'd rather see little to no taxes throughout life, then 100% estate taxes at death.

 

[Craig234]

Originally posted by: XMan

Originally posted by: Craig234

Originally posted by: XMan
Do inheritance taxes apply to family homes?

Yes. Note that democrats are in favor of increasing exemptions around this to decrease the liability to the inheritance tax around family homes for people.

They are at odds with republicans who want to abolish the tax.

What with the rise in property values, they're going to need to get to work on those exemptions . . .

I never have understood the inheritance tax. You've already paid taxes on your assets throughout your life, then once you die it's suddenly time for the government to get another bite? No thanks.

You make the common republican error of assuming that eliminating the tax means it just goes away and no one pays it.

Wrong. You have to *shift* the tax somewhere, which means from the most wealty 1% or so to the less well off. Don't talk to me about spending cuts in the Bush era.

As for the theory - there are certain truths about our economic system some realize and some don't.

One is that the government is absolutely essential to maintaining a level playing field for capitalism. Another is that the government is essential to protecitng society's greater good so that the companies can be protected as well as the public. Another is that unrestrained capitalism inevitably leads to monopoly, which is feudalism. When one person/company/group own all the wealth, there is no more 'competition' and capitalism no longer exists. Restraints on monopoly are essential to capitalism.

Another is that capitalism tends to result in concentrated wealth, which becomes dynasties - as we saw in the robber baron/gilded age era. This results in market inefficiences which cot society; in the corruption of our political system; in the average American being worse off; in the replacement of meritocracy with nepotism, and such. It was broadly recognized both that limiting dynastic wealth and power had societyal benefits, and that the inheritance tax relived average Americans of some of their tax burden.

Republicans have always wanted ot get rid of the tax, but it was extremely popular and untouchable for over 50 years, until the leading republican pollster/propagandist Frank Lutz ran across an aberration in the sort of 'word experiements' he does to find phrases that make unpopular policies appealing - by changing the name from "inheritance tax" to one less appealing, the public support for repealing it skyrocketed.

Huge sums were spent to promote the new phrase, the White House and congressional leadership made its use among republicans mandatory, and they pushed the repeal.

Politics is weird - for just a name/phrase to so dramatically shift the public opinion is an embarrising contradiction to our political culture's claims to be rational and informed.

 

[fstime]

Estate taxes are there to prevent any sort of nobility as stated in the constitution, no nobility is to exist in the United States.

Thus it makes it harder for the rich to pass down their goods.

Feel free to correct me if i'm wrong on this.

You can however transfer $11,000 to any family member every year tax free.

 

[Vic]

Originally posted by: Craig234

Originally posted by: XMan

Originally posted by: Craig234

Originally posted by: XMan
Do inheritance taxes apply to family homes?

Yes. Note that democrats are in favor of increasing exemptions around this to decrease the liability to the inheritance tax around family homes for people.

They are at odds with republicans who want to abolish the tax.

What with the rise in property values, they're going to need to get to work on those exemptions . . .

I never have understood the inheritance tax. You've already paid taxes on your assets throughout your life, then once you die it's suddenly time for the government to get another bite? No thanks.

You make the common republican error of assuming that eliminating the tax means it just goes away and no one pays it.

Wrong. You have to *shift* the tax somewhere, which means from the most wealty 1% or so to the less well off. Don't talk to me about spending cuts in the Bush era.

Failed economics, did we? Or are you stuck to your blind partisan rhetoric? Or should we call this the common democrat error of assuming that taxes not collected are taxes lost?

If the monies weren't being spent, they wouldn't have to collect the taxes for them in the first place, much less shift anything.

Hmm... I wonder what a little trust fund bitch like yourself thinks of my 100% estate tax idea...

 

[BoberFett]

If you know you're dying, why prolong it? How much is life worth when it's spent in a hospital or nursing home hooked up to machines. Yeah, you get to see your family and friend, but only for a few minutes a day, and you never know when the end is actually going to come. It's not a good life, you're just waiting to die. I'd rather have a party and see all my loved ones one last time and then just let me go.

End of life care is a huge cost in the US. Maybe we should focus more on comfort at the end of life rather than just trying to keep people alive as long as possible?

http://www.medicalnewstoday.com/medicalnews.php?newsid=54611

http://www.pubmedcentral.nih.gov/articlerender.fcgi?artid=1282187

 

[Steeplerot]

Originally posted by: Vic

Hmm... I wonder what a little trust fund bitch like yourself thinks of my 100% estate tax idea...

You really should take your meds Vic..You are a fvcking loon between this crap and threatening people with violence.


Yuu and mccowen both sure earned your titles of being Elite asses in here.

-----------------------------------------------------------------------
Moving across the line again in your last sentence.

See you in two weeks

Anandtech Moderator

 

[Vic]

Originally posted by: Steeplerot
From page 2 of this thread

Originally posted by: Vic

Hmm... I wonder what a little trust fund bitch like yourself thinks of my 100% estate tax idea...

How does he get away with flaming people like that? This guy is out of line.


YOu really should take your meds Vic..

Are you implying that PM'ed the mods about this? Here's a clue for you, rot -- you and Craig are some of the worst and most insulting flamers on here. Do I really need to point to the thread where you, he, and aidanjm insulted my mother FFS?
So your claims that I'm out of line or need to take my meds are pretty freakin' ridiculous and hypocritical.

:roll: