The Pros and Cons of Long-Term Care Insurance

Sydney's Voice

One of the hot-button topics in retirement planning is the issue of long-term care insurance. In a recent article in the Wall Street Journal, a health administration wonk and a nursing home reform advocate debated the pros and cons of long-term care insurance, and they both made some worthwhile points.

Having long worked in the field of in-home care, we have frequently seen families struggle with the best way to meet the needs of an older loved one. Financial realities are often a significant part of their concerns. The right health insurance can be a godsend, but long-term care insurance is not a one-size-fits-all proposition.

The Long-Term Care Insurance Debate
In the Wall Street Journal debate, the argument for long-term care insurance can be summarized as follows:

Most older individuals will need some type of long-term care eventually. Costs of long-term care can run up to $250 or more per…

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