It’s safe to say the long-term care (LTC) landscape has changed quite drastically over the last 30 years.
During the LTC insurance “boom” of the 1990s, most of these providers were targeting the middle class for coverage. A variety of factors influenced this. First, affluent clients assumed they could self-insure all ranges of claims. After all, the potential costs and impending effects of undertaking such feats were still unknown variables. On top of that, many of the lower income families either couldn’t afford the coverage or planned to rely on government programs for support.