As Boomer Need for Long Term Care Insurance Explodes, Insurers' Finances Implode
Description
Presently, !0,000 Baby Boomers A DAY turn 65 in the U.S., and it will continue until the year 2030! At that time there will be more people old people (over 65) in the U.S. than young people (18 and under) for the first time ever in the history of the country!
Stats show that 7 out of 10 retirees will need Long Term Care (LTC) support services at some point in their retired life.
Then this from the WSJ: "Millions Bought Insurance to Cover Retirement Health Cost, Now They Face an Awful Choice". That's because LTC Insurers are throwing in the towel from losses (long before the crush has even started!) and either leaving the market or raising rates dramatically.
What choices will be left for aging Boomers? Bruce covers the story in this episode!
United States
