Health Insurance
4 months ago
When does it make sense to self-insure for long-term care instead of buying a policy?
28
I'm 62 with $2.8M in retirement savings and a paid-off home worth $650k. I got LTC insurance quotes around $4,500-6,000/year with inflation protection. Given my assets, does it make more sense to self-insure? Average nursing home stay is about 2-3 years at $100k-120k/year, which my portfolio could absorb. But what if I need care for 5-8 years? At what net worth does self-insuring become the mathematically better choice?
DR
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