Tag: LTC insurance
Long-term care is the major uninsured expense for most retirees. Neither private health insurance nor Medicare covers long-term care expenses, although Medicare provides for care in a skilled nursing facility for up to 100 days following hospitalization. Long-term care insurance is available in the private market, but less than 5 percent of people purchase plans. …
Private long-term care insurance is unlikely to be part of the solution. One of the greatest health-related risks facing older people is the cost of extensive long-term care to help with activities of daily living such as bathing, dressing, and eating or to deal with dementia or other chronic conditions. We estimate that roughly…
