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I saw some article awhile back that showed how each of the usual scary statistics thrown about by the LTC industry is derived to give maximum fear effect, and how it could easily be framed another way to give a more measured picture to make LTC insurance decisions. I don't remember the meat of it, but it included analysis like how the stats ignore the surprisingly high number of people who enter nursing homes but leave them (sometime on their feet, sometimes feet first) before LTC would even kick in, stuff like that.
on the other hand insurers grossly underestimated use .
they want by stats that were a generation old …
many watched as their parents took a hit financially and socially trying to care for an agin parent .
they saw families destroyed as one sibling stepped up to the plate while. their brothers and sisters stepped back creating fights .
if you were married it likely stressed the marriage
they failed to count many like my dad that couldnt afford a nursing home so health care professionals took them in to their home and cared for them for a lot less .this is very popular in florida .
people who haver insurance tend to use that insurance ..so the insurance industry was misled as to actual use .
today every insurer pulled out of our state partnership plan because of high usage .
IMPORTANT: As of January 1, 2021, there are no insurance companies currently offering new policy purchases of Partnership qualified products in New York State. This means that there are no new Partnership policies available for purchase at this time. This does not affect current, active insureds who are Partnership qualified.
I worked with a guy who was born January 4, 1946. He was one of the first Boomers!
Sadly, he died earlier this year. While getting a scan in anticipation of hip replacement surgery, they found cancer, and it took him quickly.
we are still relatively to young to get a picture on nursing home usage for our generation
we all know people who died pretty young ,especially my mom at 55 for me
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