If they are moving assets to avoid paying their medical bills then something should be done. They should have bought long term care insurance if they had that kind of money, and should not expect the American tax payer to pay for care they should be responsible for IF THEY HAVE THE MONEY?
I have my long term care insurance and if they have that kind of money they should have it also.
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How solid is the math that spends $80,000/yr on nursing home care for people who never earned that sume in their lives? And what society can afford than when average earnings are half that amount?
This used to be called children, but that was before every generation decided to steal from every other generation. Baby Boomers have the highest standard of living in the history of the world and they still want to steal from their children and grandchildren instead of leaving an inheritance.
Great Point.
I should disclose that I am a Long Term Care Insurance Specialist. If anyone has questions regarding LTC insurance, I'm more than willing to get you the answers.