The cost of health care is a key wild card in any retirement plan. Out-of-pocket spending can vary widely, depending on longevity, health status, and income–even where you live makes a difference. But most estimates on retirement health-care costs don’t factor in an even bigger challenge: paying for long-term care. Experts estimate that 70% of [...] [...more]
“What if I never need long-term care?” That’s one of the biggest buyer objections to purchasing long-term care insurance (LTCI), and it was a big topic of conversation among Morningstar readers after my last column on buying tips for long-term care insurance. It’s an understandable concern because LTCI is costly. Now, an alternative approach is [...] [...more]
The cost of health care is a key wild card in any retirement plan. Out-of-pocket spending can vary widely, depending on longevity, health status, and income–even where you live makes a difference. But most estimates on retirement health-care costs don’t factor in an even bigger challenge: paying for long-term care. Experts estimate that 70% of [...] [...more]
The gender gap is about to get a little wider as the formerly egalitarian long-term care insurance market starts charging higher prices for women. While life insurance has long been priced by sex, companies that provide long-term care insurance (LTCI), mainly used to cover healthcare expenses in old age or for severe illness, have long [...] [...more]
There’s a lot of complaining about the fiscal cliff deal, but there is one notable bright spot: Congress agreed to take a hard look at long-term care. With the repeal of the Community Living Assistance Services and Supports Act (CLASS Act), a feature of Obamacare that attempted to create a mass “public option” for long-term [...] [...more]
