Long-Term Care Costs Are Rising, But Few Can Afford Insurance for Aging Americans

More than half of older Americans will need long-term care as they age, but many can't afford the rising costs.
Long-term care includes help with daily activities and medical services, but Medicare and Medicaid only cover limited services.
Long-term care insurance is an option but uptake is declining as premiums rise, with only 7.5 million policies active in 2020.
Annual premiums for long-term care insurance typically cost several thousand dollars, unaffordable for many.
Low-income older adults especially struggle to pay for long-term care, with some states implementing public care funds to help residents.

cnn.com

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