“Why The WSJ Is Wrong About Long-Term Care Planning,” by Jamie Hopkins, Forbes

“A recent Wall Street Journal article, “Millions Bought Insurance to Cover Retirement Health Costs. Now They Face an Awful Choice,” has been circulating on the internet but for all the wrong reasons. The WSJ piece essentially falls into the “bad news sells” category of reporting. While the article itself provides plenty of great statistics and touches on a very important topic, the article really misses the mark on two main points about long-term care insurance.  Its ‘Woe is me!’ theme actually pushes people away from doing quality long-term care planning. Instead of lamenting past missteps, the article could have emphasized some of the new techniques for building effective and sustainable solutions to the budding long-term care crisis.”

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

A good rebuttal of the WSJ attack on LTCI by Jamie Hopkins, whose credentials for the task are excellent. To wit:  “I am the Co-Director of the American College’s New York Life Center for Retirement Income and an Associate Professor of Taxation at the American College where I helped develop the Retirement Income Certified Professional® (RICP®) designation. I also hold the Larry R. Pike Chair in Insurance & Investments. I’ve written about, and published, a variety of articles on retirement. I frequently write and publish law review articles dealing with retirement issues, such as long-term care, taxation of insurance benefits, and estate planning. I am extremely passionate about the retirement security of Americans and believe that a better prepared public can enjoy a more secure and fulfilling retirement.”

Why The WSJ Is Wrong About Long-Term Care Planning

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>   Related: “Millions Bought Insurance to Cover Retirement Health Costs. Now They Face an Awful Choice”