The Long Term Care Insurance Crack Up: A Perfect Storm for Retirees The latest rate increases in long term care insurance have left retirees facing a stark choice: pay significantly higher premiums or abandon their coverage altogether.
Across the industry, carriers are imposing hikes of 50% to 200% on legacy policies written as far back as 2014.
These increases are largely due to underestimation of services inflation – a phenomenon that has been quietly driving up costs for nursing home and home health care over the past year.