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How to keep long-term care from bankrupting us A report from the Bipartisan Policy Center shows that long-term care poses a serious risk to retirees' financial security, as the costs are likely to increase and people have not saved to cover this need in their advance years, according to this article on Forbes. To help people prepare for long-term care costs in retirement, employers should be encouraged to provide their workers affordable, simplified “retirement long-term care insurance” with auto enrollment feature for workers age 45 and older, says the report. 401(k) participants should also be allowed to tap into the plan without tax penalties to buy long-term care insurance coverage.
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