“Can I get more affordable long-term care insurance?”

“Can I get more affordable long-term care insurance?,” by Philip Moeller, PBS NewsHour

Q: “My second question is, I have had long-term care insurance for 14 years. I have not had occasion to use it, but just received a notice stating future projections require that my policy premiums will increase annually by $655, and that there could be future increases as well. This is a big blow as the insurance already costs $2,200 annually, which is not easy for me to cover. Would you advise dropping the coverage altogether considering the Medicare coverage I will have, and if not, could your direct me to reputable companies I can look into for less costly coverage?”

A: “As for long-term care insurance, I wouldn’t drop it. Medicare DOES NOT pay for long-term term care. I don’t know the terms of her current policy, but I’m afraid the price she mentions does not seem unreasonable for an individual policy. Long-term care costs can be very, very high.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Good advice.

Can I get more affordable long-term care insurance?