PAX Centurion - November / December 2013

www.bppa.org PAX CENTURION • November/December 2013 • Page 33 BPPA RETIRED PATROLMEN’S DIVISION MEMBERSHIP APPLICATION Date:_ ____________________________________________ Name:____________________________________________ Address:__________________________________________ City, State, Zip:_ ___________________________________ Home Phone:_ ____________________________________ Cell Phone:_ ______________________________________ Date of Appointment:______________________________ Date of Retirement:________________________________ Email:_ ___________________________________________ Annual Dues are $24.00. The year runs from March to March. Please mail this application and $24.00 annual dues to the: BPPA Retired Patrolmen’s Division 9-11 Shetland Street, Boston, MA 02119 The BPPA Retired Patrolmen’s Division and Santa Flippin Wishes a Merry Christmas to All! From Retirees on page 32 Future retirees’ health care costs growing more daunting But Medicaid varies by state, and often doesn’t cover assisted living. If Medicaid is your only option, you’ll most likely have less choice of nursing homes since many limit the number of Medicaid beds they of- fer, and some don’t accept it at all. “Like with most other things, people who can pay out of pocket for long-term care have the most choices,” said Ruth Drew, director of family and information services for theAlzheimer’sAssociation. On average, a 60-year-old couple who buy a long-term care policy now – assuming they qualify, given tightening medical underwriting – will pay more than $3,700 a year in premiums, according to theAmeri- canAssociation for Long-TermCare Insurance. That’s for a policy with $162,000 each in “current” benefits, which will grow to $329,000 each in benefits when they turn 85. The catch is that those premiums must be paid over a long period of time. Most policy holders file initial claims after age 80, so that means 20 years or more of paying for a service that you may never need. That’s about $74,000 in premiums – if your rates don’t go up. The problem is that some people may require no long-term care at all, while others may need it for long periods. “Basically, you can’t predict,” said Bruce Chernof, chief executive of the SCAN Foundation. (Reprinted from the Boston Globe, November 20, 2013.)