At the same time, it has revealed that it is still possible to take advantage of savings for a short time.
The American Association for Long Term Care Insurance has now released the results of a study that has investigated the cost of purchasing this coverage for single women, and the direction that it is taking.
It found that women in half of the states still have a chance to save between 40 and 60 percent.
The key to being able to benefit from these long term care insurance savings that still exist for women is making sure that these consumers act quickly before the insurers in their areas raise their rates – as it appears that they will nearly all eventually do.
In 25 of the states, women are still paying the older rates for long term care insurance.
This means that they are still paying about the same rates for long term care insurance as single men. However, the report from the association showed that this opportunity for single women is shrinking and it will not last forever.
According to the executive director of the American Association for Long Term Care Insurance, Jesse Slome, “This Spring, leading insurers started introducing new policies that charge single women an average of between 40-and-60 percent more than a comparably aged single man,” adding that “It is a progressive state-by-state roll-out however, and there are still 25 states where single women can lock in rates equal to those paid by men.”
The association also said that policies that maintain unisex long term care insurance pricing are still available in half of the states, including New York, California, Florida, and other large locations. There, single women still have the chance to benefit from long term care insurance rates that are the same as their male counterparts. However, the report has warned that this is quite a temporary situation. “It is only a matter of time” before these states start to provide approvals to insurers to be able to charge sex distinct pricing calculations. At that time, single women – who are expected to live longer than men and who may not have family members to take care of them at home – will be required to pay more to be covered.