long-term care insurance

A major demographic shift is happening. The ages 85+ population is projected to triple between 2015 and 2050. In comparison, the population younger than age 65 will increase by only 12 percent.

The cost of long-term care (LTC) is tremendous: nearly $84,000 annually for a nursing home and typically more than $30,000 a year for home care. Among people turning 65, more than two-thirds will eventually need LTC - services that are not covered by Medicare or private health insurance. Given this risk, you might expect sales of private long-term care insurance (LTCI) to be strong. But they're not.

If you're a woman shopping for long-term care insurance, prepare for some unwelcome news.

Republican presidential candidate Herman Cain is touting an alternative to Social Security based on a private pensions model instituted in Chile a generation ago; HHS ditches plan for long-term care insurance.