Take Two

How’s that for a post title?  But seriously, everyone (barring divine intervention) is going to die.  I have been working on a case this week that reminds me that it can be, without proper planning, very expensive and stressful to your family if you’re not prepared when the time comes.

Specifically, I have a client who is in a long-term acute care hospital in Cleveland.  The daily rate (excluding medications) is $1200/day.  Brutal.  I have a major medical policy so in theory my liability for such a stay would be somewhat limited however; without a backstop, one illness can ruin a family.  Many items (physical and occupational therapy come to mind) are not covered on many employer sponsored plans or, if they are, the coverage is spotty.  This study by Harvard’s Law and Medical Schools confirms my worst fears.  Even with insurance, there are limited protections.

So what to do?  If I had a good idea I would run for president but I don’t but I would offer one piece of advice- For the love of God, don’t count on the government to pick up the tab.  It’s not their forte.

Enough of the soapbox, back to your regularly scheduled programming.