Excerpt from The New York Times: (click for entire article)
There just hasn’t been a lot of good news about long-term care insurance lately. Private insurers have been dropping the product, and the Obama administration announced last fall that it was scrapping plans for a federally sponsored option.
The latest? The American Association for Long-Term Care Insurance says its yearly analysis of popular policies offered by 10 big insurers finds that prices for such policies have risen by as much as 17 percent from a year ago.
The average annual cost for a single 55-year-old in good health is $1,720, for $165,000 to $200,000 of current coverage, the association says. Last year, the same coverage would have cost $1,480.