Metlife

Average annual private nursing home room charge hits $90,520, survey shows

Average annual private nursing home room charge hits $90,520, survey shows

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The national average annual charge for a private nursing home room rose to $90,520 this year, while semi-private rooms climbed to $81,030 and assisted living residency jumped to $42,600, according to figures from the 10th annual MetLife survey of eldercare costs, which was released Tuesday.

Genworth discontinues some LTC insurance options

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Genworth Financial announced that it is taking several of its long-term care insurance options off the table.

Younger buyers for reverse mortgages

The average age of homeowners now considering reverse mortgages has plunged in recent years with the collapse of the housing market, according to a new report. One in five prospective borrowers of home equity conversion mortgages are between the ages of 62 and 64, according to a report released by MetLife and the National Council on Aging. The average age of consumers who have been through the required reverse mortgage counseling has dropped to 71.5 years old. Reverse mortgages — which allow consumers to draw on home equity without monthly mortgage payments and don't have income requirements — are touted by long-term care advocates as a private-pay means of paying for long-term care.

Reverse mortgage borrowers are getting younger, report finds

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The average age of homeowners now considering reverse mortgages has plunged in recent years with the collapse of the housing market, according to a new report.

Prudential to discontinue individual long-term care insurance policies

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Insurance stalwart Prudential Financial announced Wednesday that it is exiting the long-term care insurance business.

Senior housing market starting to see a recovery

Assisted living facilities price per unit have gone up in the last year while prices per bed in skilled nursing facilities have declined slightly, according to a new report.

LTC insurance premiums to rise as cost of care accelerates

Many long-term care insurance policy holders in Connecticut just saw their premiums jump by double digits, a trend that is likely to continue.

MetLife exits long-term care insurance market

MetLife exits long-term care insurance market

MetLife, which currently provides long-term care insurance to 600,000 people, announced Thursday that it is discontinuing sales of long-term care insurance (LTCI), effective Dec. 30.

Senator rips federal long-term care insurance program for 'unacceptable' premium hikes

A federal long-term care insurance program that was supposed to usher in a new era of acceptance by a skeptical public was criticized Wednesday at a Senate hearing. The gathering was called after more than half of those enrolled in the federal long-term care insurance (FLTCI) program found they were facing a significant—and unexpected—rate increase.