For many people in their 50s and 60s, the decision of whether to purchase long-term care insurance is a pressing concern. Yet, despite this, only a small fraction—around 2.3%—of individuals in this age group choose to buy such policies. The long-term care insurance industry has...

Advantage Plans are offered by private companies, such as UnitedHealthcare and Humana, approved by Medicare. They are all-in-one programs that may appear to provide advantages over original Medicare, such as reduced or nonexistent premiums. But it is a balancing act, as they may require higher...