John Ewoldt on Long-Term Care Insurance

Interesting story in yesterday’s Minneapolis Star Tribune by John Ewoldt on long-term care insurance.As John mentioned in his article, most baby boomers told us in the Ecumen Age Wave Study that they find long-term care insurance difficult to understand and want more hybrid products, such as disability insurance with a long-term care benefit.This is where there is great potential for the private market and government to work together. The market could deliver more appealing, more flexible, easier-to-understand products that people see benefit in. Meanwhile, state government could create a one-stop web site where people can easily compare state-endorsed products. If we want to get more people to pay for their long-term care and plan ahead for retirement costs, we have to create products that people will use and can benefit from earlier in their lives.