News Headlines Article

Long term care: a scary abyss

The exploding number of older adults in the United States – over 8,000 people turn 65 each day according to the U.S. Census Bureau – means Baby Boomers are staring into a terrifying abyss as a faltering economy wreaks havoc with retirement funds and the ability to pay for long-term care. In an admission of defeat, the Obama administration threw up its hands long before January 1st when Congress officially scuttled plans for a new, voluntary long-term care insurance program, once part of the Affordable Care Act.