No. of Recommendations: 2
Here's a long-term-care solution that some are using.

http://www.nytimes.com/2010/12/12/nyregion/12medicaid.html?_...

AFTER immigrating to New York City from China in the 1970s, Z. Y. Tung and his wife worked hard — he as a bank manager, she as a public school secretary — lived frugally and saved every penny they could for the next generation.

ntil five years ago, when his wife, Wen Mei Hu, racked by bone-marrow cancer, had to be put in a nursing home, where the bills ran past $100,000 a year, threatening to quickly drain the couple’s life savings of $500,000. The nursing home told him not to worry: If he signed a document essentially refusing to support his wife of several decades, Medicaid, the federal insurance program for the indigent, would pick up the bill.

“What about me, because I am responsible?” Mr. Tung inquired. He was told that only millionaires had to pay such high costs, and reluctantly, seeing no other choice, he agreed.

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