Is Long Term Care Insurance a Bad Idea?

There’s a growing sentiment among money managers that long-term care insurance is an expensive mistake, and that rising premiums make LTCI too expensive, and that Americans are better off using a market-based savings plan to save for health care costs in retirement. What’s your take on long-term care insurance? Is it needed or not? Who benefits most and least, and why? Are stock market savings plans a viable alternative? Why or why not? All comments welcome.