Baby Boomers

El Supremo

(20,382 posts)

8. The big long term care insurance premium increases are mostly due...

Reply to wryter2000 (Original post)

Sun Sep 24, 2023, 03:07 PM

Sep 2023

to the fact that the companies were losing money due to skyrocketing care costs. Some (like mine) have quit issuing new policies. It may have evened out by now, but the premiums are very high. If you have no spouse or person who would be greatly burdened by the cost of your care then it might not be a good idea. There is always Medicaid when your money runs out.

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Does anyone know about long term care insurance? [View all] wryter2000 Sep 2023 OP

Depends on your age... LakeVermilion Sep 2023 #1

I thought that might be the answer wryter2000 Sep 2023 #2

Do a Google search for it and add 'pitfalls/problems' or some such word. keithbvadu2 Sep 2023 #3

I would not have expected severe changes over time wryter2000 Sep 2023 #5

It was available to me 20+ years ago CountAllVotes Sep 2023 #4

Wow wryter2000 Sep 2023 #6

It was well known CountAllVotes Sep 2023 #7

Exactly why I haven't bought it ... Auggie Sep 2023 #10

The big long term care insurance premium increases are mostly due... El Supremo Sep 2023 #8

Thanks wryter2000 Sep 2023 #9

My husband says mine is about $3k per year and his is a bit less. He says it's going up! Karadeniz Sep 2023 #11

In 2022, when I was 64, PoindexterOglethorpe Sep 2023 #12

Wow wryter2000 Sep 2023 #13

The policies on offer change over time. PoindexterOglethorpe Sep 2023 #14