Long-term-care policy benefits shrink, prices rise

Long-term-care insurers are retreating from the marketplace and raising premiums for policies that remain, a situation that has put many seniors who bought the coverage in a bind. The problem, experts say, is that insurers underestimated almost everything key to the policies: How many people would tap the benefits, how fast medical costs would rise and how few customers would surrender their policies.

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Wall Street Journal (tiered subscription model), The

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