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Health Insurance

4 secrets to buying long-term care insurance

For aging baby boomers, planning for long-term care costs becomes more pressing every day. But the insurance that helps cover those costs is surging in price, while the benefits are becoming skimpier. As costs rise, health care experts are engaging in a fierce debate about whether the coverage is worth the years of premiums. Even when people do go into a nursing home, those bills may not be as enormous as many people believe. Half of men and nearly 40 percent of women who use nursing-home care never have a stay exceeding three months, according to a recent study by the Center for Retirement Research at Boston College. The overall cost of new long-term care coverage has jumped roughly 9...