Americans would like nothing more than to live in their own homes in their old age. Can short-term care insurance help them do it? The plans have a good, bad and ugly side worthy of a Clint Eastwood movie and require a squinty-eyed analysis to gauge their value.
On the plus side, "short-term care plans fill the need for those who want some protection, but are too old, too unhealthy or cannot afford long-term care insurance," said Jesse Slome, director of the American Association for Long-Term Care Insurance. The downside is short-term policies only cover care for one year or less, limiting how much they pay out per day or week.
