A breath of hope for private LTC insurance. (News Notes).
Ignorance of long-term care financing options still abounds, however, as highlighted by the ASA survey. For example, 62% of respondents had at least one serious misconception about who provides long-term care coverage or the conditions under which it's offered. More than 40% were unaware of Medicare's limited role in paying for long-term care, and 46% erroneously believed their health insurance would cover the costs. Many consumers seem to be unwilling to deal with future needs: Half of the respondents agreed with the statement, "Longterm care is something I won't need until I am older, and I don't want to think about it now."
The LTC Financing Strategy Group is a nonprofit, nonpartisan think tank to address long-term care financing issues and offer solutions, and its study was based on U.S. Census and Medicaid data. The ASA study was conducted by and funded by State Farm Insurance.
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|Title Annotation:||long-term care|
|Author:||Edwards, Douglas J.|
|Article Type:||Brief Article|
|Date:||Jul 1, 2003|
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