New directions in life care: an industry in transition.

Current approaches to financing long-term care are inadequate; they are even less likely to meet future needs of increasing numbers of disabled and chronically ill elderly persons. While insurers, providers, and policy makers are developing models of risk-pooling that cover long-term care, the industry that first put these concepts into practice is moving in other directions. Despite the success of many continuing-care retirement communities in offering full and affordable long-term care coverage, a new trend emphasizes amenities over comprehensiveness. Sponsorship and consumer demand are contrasted with insurability of risks as key issues for the industry and for policy makers.