He wants to guarantee three years total of care and is willing to agree to a 90-day waiting period before he can collect. He will pay an average of $3,355 per year, according to the American Association for Long-Term Care Insurance. Things get worse for a single, 60-year-old woman, who would pay an average of $4,470 for the same plan. (Women are responsible for two-thirds of all claims in dollars, so they pay more in most states, though gender-based rates are the subject of a federal administrative complaint.) Couples could save money by joining forces and sharing the benefits; a heterosexual couple would pay $4,945. Plenty of people can’t afford premiums that large. Others can’t get coverage at all. According to the most recent industry data, 25 percent of consumers who tried to get a policy between the ages of 60 and 69 were rejected altogether. For those who tried when they were 70 to 79, 44 percent could not get coverage at any price. Buying earlier could mean three or four decades of premiums.

For the original version including any supplementary images or video, visit https://www.nytimes.com/2017/07/14/your-money/how-the-medicaid-debate-affects-long-term-care-insurance-decisions.html

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