Steps on the Path to Public/Private Long-Term Care Financing
Yesterday, the CEO of the nation’s largest long-term care insurance company, Genworth, acknowledged the US needs a new model of LTC insurance that includes some government role. Tom McInerney estimated that between half and two-thirds of Americans simply cannot afford to buy insurance in the traditional private market. A 50-something can expect to pay an average of $2,500-$3,000-a-year for a typical [...]