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Genworth Financial Inc

As America ages, issue of long-term care emerges

As America ages, issue of long-term care emerges

When the Obama administration recently backed off a long-term insurance program that was part of the law to overhaul health care, we all lost.

The so-called CLASS Act, which even supporters acknowledge had design flaws, would have allowed workers to voluntarily buy a long-term care policy regardless of their health. The benefit wasn't huge, but it might have been enough to allow some seniors to remain in their homes. And it was better than nothing — which is what most people have now.

But as it turned out, the program wasn't financially sustainable and was dropped before it ever launched. That means any serious discussion to address the nation's long-term care needs is...