From Yahoo Finance: 2025-05-16 17:54:00

A recent Morningstar study found that long-term health care costs can significantly impact retirement plan failure rates. Gender disparities exist, with women facing higher long-term care costs and single women projected to have a 52% retirement failure rate. Medicare does not cover long-term care costs, leaving many Americans unprepared. Private long-term care insurance is an option, but only 7.5 million Americans have policies. Financial advisors recommend LTC plans, but high premiums may lead clients to other solutions. Self-insuring or unpaid caregiving can help mitigate costs, but advisors stress the need for a plan. Other instruments like reverse mortgages and life insurance can also assist retirees without LTC insurance.



Read more at Yahoo Finance: Long-term care costs can derail retirement plans. Here’s how to manage them