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Affordable Care Act (Obamacare)
High nursing home bills squeeze insurers, driving rates up
High nursing home bills squeeze insurers, driving rates up

Thirty years ago, insurance companies had the answer to the soaring cost of caring for the elderly. Plan ahead and buy a policy that will cover your expenses. Now, there's a new problem: Even insurers think it's unaffordable. Life insurance firms pitched long-term care policies as the prudent way for Americans to shoulder the cost of staying in nursing homes. But those same companies have found that long-term-care policies are squeezing their profits. Earnings for life insurers slid 11% in the most recent quarter, according to Moody's Investors Service, and long-term care was the chief culprit. "Insurers that sell these products lose money on them," says...

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