Higher incomes twice as likely to have long term care insurance

From Senior Housing News: Despite the increasing need for long term care, only 1 in 10 Americans aged 55 and older had private long term care insurance in 2008 according to the a new report from the Urban Institute. Most Americans will eventually need long-term care, which is often expensive and not usually covered by public programs until recipients have nearly exhausted their savings. In 2009, 5.2 million Americans age 65 and older not living in institutions had long-term care needs. Of those covered, those with incomes of more than $100,000 were twice as high.
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