In the wake of a number of new reports generated by a variety of care organizations, it appears Americans are investing less and less in their late-life planning. It seems in Florida and elsewhere across the nation, fewer adults are investing in long-term care planning, medical insurance and other measures meant to address the potential for failing health in late life. Some experts believe this may have to do with many providers leaving the industry in the wake of the recession and the resulting loss of public faith in the insurance industry as a whole.
Following the advent of the recession, with many major insurance providers leaving the market, the prices charged by the remaining providers shot up as much as 30 to 50 percent in the intervening years. This is a difficult financial blow for Americans shouldering the burdens of the recession themselves. As a result, new policies being written have dropped drastically -- from over 500,000 signed in 2000 to just 133,000 as of September of this year.