Filed Under:Annuities, Suitability

How do we fix private LTCI?

Should the Federal Commission on Long-Term Care say anything to Congress about private long-term care insurance (LTCI)?

Some members of the commission were asking that question recently at a hearing on efforts to strengthen public and private support programs for people who need long-term care (LTC) services.

Grabowski said better-targeted federal tax incentives might increase the percentage of older people who own private LTC coverage to 20 percent -- from about 10 percent today -- and that the people who have the private coverage are more likely to be the people who otherwise would end up using Medicaid nursing home benefits.

Kent listed some practical steps the government could take to encourage middle-income people to buy private LTCI.

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Nichole Morford

Nichole Morford
Managing Editor

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