Boomer Watch: Seeking Other Ways to Pay for Long-Term Care Expenses

According to the American Association for Long-Term Care Insurance, only about 51% of applicants qualify in their 50's, 42% in their 60's, and 24% in their 70's. With these statistics, more than half of baby boomers may not be able to qualify for long-term care insurance. Even though the ruling about getting ltci varied depending on the insurance company, there are several conditions that may make it impossible for an individual to quality, especially now that even parental medical history is being considered.



With the rapid growth of the boomer population, how are they going to deal with long-term care issues if majority of them will not quality for long-term care insurance? There will be a surge in the demand for care, but this comes with a high price tag. What will happen to them and their retirement savings?

photo credit: http://www.ltcoptions.com/

Fortunately, Baby Boomer Retirement, shares alternative ways to cover long-term care expenses should you be declined in your application for ltci, the article was written by Deborah Diane. Boomers out there, you should not wait too long, explore your options now and study which among the alternative shared by Deborah Diane will best suit your needs.