AUGUST 2022

Some suggest we may be heading for the golden age of long-term care insurance. I hope so. 


In 2002 when I started in this specialized insurance niche the industry reported $1.5 billion in new standalone premiums. A decade later the premiums had dropped to $600 million. Now the latest numbers for 2021 indicate total standalone premiums dropped again to $200 million. And that includes sales in Washington State where the incentive to buy private insurance and avoid a payroll tax was huge. 


So why would anyone think we might be heading for a golden age? We have several in the first entry below…

ARE WE GOLDEN?

With the mounting cost of home care, states concerned about Medicaid budgets and aging baby boomers, how to pay for long-term care is top of mind!

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THE TOP TEN

Or should we say the bottom 10? According to Genworth, these states have the lowest cost of long-term care! Did your state make the list?

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HOPE TO USE IT?

No one buys insurance (long-term care or otherwise) hoping that they have to use it! We do it to offset risk and sleep better at night!

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Nicole Gurley, CLTC
Gurley Long-Term Care Insurance
480.515.2715
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