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Bleak future for the funding of long-term care

Wallace Roberts
Wallace Roberts

A new scientific measure was introduced at this year’s annual meeting of the Gerontological Society of America (GSA) that may have serious implications for how Americans are going to pay for long-term care. It’s called, “Not going to happen.”

At a symposium on the topic, Marc A. Cohen, chief executive officer of LifePlans, Inc., a research organization for private insurance companies selling long-term care insurance, painted a bleak picture for the role of the private sector in this field. He said there are only 11 companies now selling a meaningful number of long-term care policies while there were 102 in 2002.

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