“Overall, the share of older adults who own long-term care insurance (LTCi) has barely changed since 2002, according to new research by my Urban Institute colleague Rich Johnson. In 2002, about 10 percent of those 65 and older had coverage. By 2008 that share had ticked up to 12 percent, but in 2014, it dropped back to 11 percent. Among those aged 55-60, the share of policyholders slipped from 7 percent in 2002 and 2008 to just 5 percent in 2014.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Interesting numbers, but this author and his source remain clueless about the cause. No mention of the real reasons why LTCI has lagged, i.e. Medicaid crowd out of demand and Federal Reserve interest-rate crowd out of profits.