Four areas for Long-Term Care insurance improvement

Today, approximately half of Americans turning 65 will need some kind of long-term care and support services during their retirement.  Although, you might think that most of them would buy long-term care insurance, but only 11 percent of people 60 and over have a private long-term care (LTC) insurance policy.  Why? Basically it comes down to three reasons: premiums are too expensive, policies are too complicated and coverage options have shrunk.  In the new report from the U.S. Treasury, found that the challenge of financing long-term care would require a coordinated response from the federal government to complement reforms at the state level.  In Chris Farrell’s article appearing on www.nextavenue.org, he reviews the Treasury’s task force recommendations and what could have been included in those recommendations. Read Mr. Farrell’s article here…

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