Long-term care (LTC) has always been in the ‘too difficult' box, as successive government reviews and think tanks have advocated varying roles for the private insurance sector.
At one extreme we have competitive, voluntary, and individual risk based insurance. This market has always been small. And, for pre-need regular premium based ‘life' insurance, has disappeared. Its problems stem from an unwillingness to buy or sell it; a complex regulatory system; lack of clarity over what the State will and will not provide in the future; little differentiation between what care you can expect if you are privately funded or funded through the state; and pricing for the small number of people who may need to be in a nursing home for a very long period. Advocates of...
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