News from The Associated Press:

Demise of Obama long-term care plan leaves gap

WASHINGTON (AP) — The Obama administration’s decision to pull the plug on a financially flawed long-term care insurance plan is likely to worsen a dilemma most middle-class families are totally unprepared for.

A nursing home can cost more than $ 200 a day and a home health aide averages $ 450 a week, usually part-time. Yet long-term care is one major health expense for which nearly all Americans are uninsured. Only about 3 percent of adults have their own policy, and Medicare doesn’t cover it.

Families confront their financial exposure when a frail elder takes a turn for the worse, a teen is calamitously injured in a car crash or a middle-aged worker suffers a debilitating stroke.

The demise of the Community Living Assistance Services and Supports program, or CLASS, means it could take a decade or longer before politicians seriously engage the issue again. By then the ret……….. continues on The Associated Press.
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