Long Term Care Expenses

I was just at a seminar about how to fund long term care expenses conducted by a LTC insurance broker.   Obviously this guy has a product to sell and he used all the typical scare tactics to convince the audience that his product was the only way out.

One of the things that absolutely turned me off about this guy was his attitude about Medicare and Medicaid.  Basically, if you depend on programs such as these, you are expecting someone else to pick up the tab for your expenses, while if you buy his product, you are taking care of yourself.  This is pure bullshit.  ALL insurance is based on expecting someone else to pick up the tab for your expenses.  All insured people pay premiums and claims are paid to those who need it.  Medicare and Medicaid are no different.  All people pay premiums (included in their taxes) and benefits are paid to those who need it.