Tag Archives: nursing home

Is Donald Trump correct about drug companies taking advantage of the poor and defenseless?

Who would expect this from the leader of a pro-business political party:

Pfizer & others should be ashamed that they have raised drug prices for no reason. They are merely taking advantage of the poor & others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe & elsewhere. We will respond! – Donald Trump,  10:08 AM – 9 Jul 2018

It’s easy to agree that there are much cheaper drug prices in other countries. Trump didn’t mention that we now see medicine manufactured in China, as well as India – just to save a few pennies on a bottle of drugs that costs hundreds, or even thousands of dollars here.

nursingYet, the charge that drug firms take advantage of the weak and powerless would seem unfair, until we examine what appears to be callous behavior by drug execs.

The following tale of so-called success in reducing drug use among the elderly shows how drug firms can evade, avoid and continue to make billions from seniors’ prescriptions. Continue reading →

How a Medicaid divorce can save you millions.

Leave it to the scions of Washington D.C. to break up middle class marriages.

Under current law if your spouse enters a nursing home, both of you are obligated to pay for care. With an average Social Security check at about $14,000, the cost of a nursing home is impossible to pay out of current income. Most folks dip into savings.

But even a family with say, $400,000 saved over a lifetime, will see that money rapidly disappear because nursing home care is not covered by Medicare. You have to pay 100% of the costs.

To give you better sense of these expenses the states with the most expensive median annual rate for a single person’s private room bed in a nursing home:

  1. Alaska – $259,515
  2. Connecticut – $158,775
  3. Massachusetts – $139,430
  4. New York – $136,510
  5. Hawaii – $135,050

The states with the least expensive median annual rate for a single person’s private room bed in a nursing home:

  1. Oklahoma – $60,225
  2. Missouri – $60,955
  3. Louisiana – $62,050
  4. Kansas – $65,700
  5. Arkansas – $65,700

Double all the above numbers for two persons.

The table below shows the range of costs by state in 2015 of the daily rate for a private room. Continue reading →

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