(Photo by: Jeffrey Greenberg/UIG via Getty Images) UIG via Getty ImagesThe Trump Administration is (very quietly) looking at ways to reinvigorate the flagging private long-term care (LTC) insurance market. For instance, updated federal rules could allow an expansion of products that combine life insurance or annuities with LTC insurance. In recent years, these combo— or hybrid— products have dominated the long-term care insurance market, though sales remain relatively modest. The median IRA balance for someone aged 50-59, the prime age when people buy long-term care coverage, ranges from about $30,000 to $40,000, hardly enough to finance decades of long-term care insurance premiums. If the White House wants to boost the long-term care insurance industry, the new tax incentives and other efforts may increase policy sales somewhat.

Source: Forbes May 24, 2019 13:30 UTC