Use LTC Cost Data to Educate Public National Underwriter (Life and Health Financial Services Edition) (03/06/02) Vol. 16, No. 2 p.1; De Simone, Marcella
A recent survey by GE Long Term Care Insurance found that the cost to live for one year in a long-term care facility in one of the 10 most expensive areas in the country is approximately $80,000. Joe Luchok, spokesman for the Health Insurance Association of America, is not surprised, noting that most people do not realize the cost of long-term care can bankrupt them or their families. He adds that most people correlate the cost of care with the cost of policies, when, in fact, the cost of the former far surpasses the cost of the latter.