059 Long-Term Care Insurance and Financing Late-Life Care Needs

In This Episode:

Dr. K talks with Howard Gleckman, a family caregiving and long-term care insurance expert who is a senior fellow at the Urban Institute. He is also the author of Caring for Our Parents: Inspiring Stories of Families Seeking New Solutions to America’s Most Urgent Health Crisis. They discuss:

• Howard’s own story of caring for his aging in-laws and parents
• Who usually pays for the assistance and services that most older people eventually need
• Why many people think they have LTC insurance when in fact they don’t
• The statistics on how likely you are to need long-term care, and how much it usually costs
• Key things to think about when considering LTC insurance
• Why boomers are less likely to have family available to help with their late-life care needs
• How a public catastrophic LTC insurance program might work
• Why there hasn’t been a lot of political pressure to address long-term care issues
• Whether it’s better to buy LTC insurance versus save on your own

Related episode: 

017 Interview: Paying for Long-Term Care & Other Family Caregiving Challenges

Related Resources:

• Howard Gleckman’s Caring for Our Parents Blog (also available on Forbes.com)
  • Today’s Massive Budget Deal Makes Big Medicare Changes
  • A New Public/Private Long-Term Care Financing Plan
  • Americans Remain Baffled By Long-Term Care Financing, But Would Like A Medicare Benefit
  • It Costs More To Care For Frail Older Adults Than To Raise Kids
• Urban Institute Report: Long-term Services and Supports for Older Americans: Risks and Financing Research Brief
• Understanding Long-Term Care Insurance – AARP