Empowering Consumers - Simplified Disclosure for Long-Term Care Insurance

SUMMARY

This Idea Brief proposes a standard, one-page disclosure form for all long-term care insurance policies to help consumers understand policy benefits and allow for easy comparison-shopping.

Roughly three in four Americans will need long-term care services at some point in their lives, yet only 10% of Americans now carry long-term care insurance. While more Americans should be considering protecting themselves with a long term care insurance policy, the length and complexity of these policies can make shopping for coverage a daunting and confusing task. This Idea Brief proposes to create a simple, one-page disclosure form for all long-term care insurance policies to enable consumers to easily understand their policy benefits and compare different policies.

To read this Report, open the attached PDF