If you think health care insurance is bad, look into long term care insurance. Only 6% of Americans have LTC insurance. Mine is going up 24% next January with no additional coverages. Many people don't realize that health insurance doesn't cover anything after your immediate medical needs are taken care of. You are out of luck if you need extremely expensive LTC. Better get LTC insurance soon if you can, as your rate will be forever higher the older you are when you enroll. Also, many preexisting conditions prevent many people, especially older people, from qualifying. This is the real financial train wreck looming down the tracks, even if you luck out health and finance wise until then. Without LTC insurance, a condition precedent to a long term care facility admitting you, is that you must sign over to them all your assets. In other words, you will then be infirm, in need of help to take care of basic bodily functions, and a pauper. Isn't unfettered capitalism nice?
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