We do not have any nursing home insurance. We do have a nice sum in the Teachers Personal Annunity account
which will be in place of insurance. If we spend it all then we will qualify for Medicare. I don't see any problem with this.
The OP is operating under the misconception that Medicare pays for long-term nursing care. IT DOES NOT.
Medicare pays for facility care only under specific circumstances, for a maximum of 120 days. You must be transferred from a hospital, under doctor's orders. You must show continuing improvement during your recovery.
It is MEDICAID that the indigent rely upon to pay for licensed facility care. This is a state-administered program, funded 50% by the government and 50% by each state. Republicans wish to eliminate Medicaid funding and provide block grants, not indexed for inflation, to states.
To rely upon a program that is currently underfunded; administered by state politicians who are under fiscal pressure to cut costs, not increase benefits; and is under siege by right-wingers who are seizing control - is not something I would consider a sound fiscal strategy for one's old age.
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