The Dreaded End

The Detroit paper has been running a series on Michigan nursing homes. Not so good.

I have some skin in the game as I both expect to live long enough to need one and I have the insurance to cover the costs-- at least for six or so years of need. Financial planners these days advocate individuals making nursing home insurance a part of one's financial plan.

The stories in the Detroit Free Press do not paint a pretty picture: Miserable conditions with poor physical plant and inattentive or wholly absent care. Stench, filth, and rot. I'm looking forward to this. There are good ones to be sure. But with the population of potential residents growing by the thousands every day, it's going to get more and more expensive to find a spot in any nursing home, let alone a good one. I can see it now: Nursing homes are the pre-schools of the future. Kids who actually care about their parents needs will be having to sign their folks up years in advance, submit them to pre-admission testing, and pay inflated premiums to secure a spot. I can hear their cocktail conversation in 2025, "Ya, it's expensive but we wanted the best for our dad. We were just thrilled when he got into the Harvard of nursing homes." And here's an idea: How about a 529 plan for nursing home care? When you finish socking away for your kids college you can start socking away for your extended end of life care with pre-tax contributions of up to $10,000 per year!

The ugly flip side to the above scenario is one in which corporate entities come along to develop nursing homes as a revenue producing business venture. Residents will be sure to wind up living at the intersection of cost control and care: A hazardous corner for an invalid. An attractive lot for the family that must manage a limited budget in an effort to minimally impact their future estate. Ouch!

For years parents have told their children that someday they will be the child's responsibility. That's why you see the bumper sticker that reads: Be nice to your kids. They'll choose your nursing home.  Now it could get worse: As kids learn we have insurance to cover the costs of nursing home care we may be lucky to even get a ride over to the stink hole, let alone regular visits on the weekend. Paybacks can be hell.

No worries here. I trust my daughter to do the right thing... but she's definitely getting what she wants for Christmas.