Very curious to hear opinions on what (if any?) impacts the new administration will have on long term care & long term care insurance. Not trying to start a heated discussion (impossible?) but still very interested!
My own view is that Obama & Congress will put a lot of emphasis on prevention (better lifestyle, diet) in their health care reform plans. Long term care probably won't be addressed in terms of new legislation; except the bully pulpit could be used to say, "stay healthy to minimize your long term care needs, but get insured to play it safe." Something like telling drivers to drive safely, but be insured.
I believe that the new administrations in the states are where change in LTCi prospects will come from. The states cannot print money like the feds can. They MUST balance their budgets. They will very soon (many this coming year) have to make the hard choices. Why allow the at home spouse's IRA as an exempt asset for Medicaid? Why give welfare to millionaires? Many more changes will be made state by state until the general population gets the message that LTC is not free from the government, not an entitlement, and will finally realize they are solely responsible. Then, and only then will LTCi really take off, but it will be sooner than later.