As Boomers continue to age and LTCI premiums continue to face severe rate hikes, the long-term care conundrum is growing — and seniors are getting angry. Many seniors who bought their policies in the ’80s or ’90s, with the expectation that they were locking in a lower rate, can’t afford the new, fees. The repercussions are twofold: one, individuals who can no longer afford their policies stand to lose thousands of dollars of invested cash; two, these individuals may ultimately require state assistance for their long-term care needs. This would be disastrous for our already over-burdened Medicaid system. In Minnesota, for example, Medicaid currently covers about 40 percent of the state’s long-term care. By 2035, if a solution isn’t found, those costs could skyrocket to a crippling $5 billion.  

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