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Fresh approaches to paying for long-term care Experts are calling for better long-term care insurance since only the wealthiest people are capable of paying for the costs, which pose a significant risk to any retirement plan, according to Morningstar. According to the Bipartisan Policy Center, this new type of coverage --dubbed "retirement long-term care"-- could be bought using people's 401(k) funds and should impose no penalty for early withdrawals. This insurance type also should be offered on federal and state health insurance exchanges, with options limited to the level of daily benefits, length of coverage, and length of waiting period before the start of coverage. –Morningstar
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