Economists Jeff Brown and Amy Finkelstein recently wrote a research paper detailing why people with few assets probably wouldn’t benefit from purchasing long-term care insurance. Medicaid ends up providing much of the private coverage that potential buyers contemplate purchasing. A report from the Society of Actuaries supplements the article, suggesting that those with savings of $250,000 may not want to buy private insurance.
See Howard Gleckman, Should You Buy Long-Term Care Insurance? Maybe Not, Forbes, Jan. 18, 2012.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
