What Robin’s Reading: Long-Term Care Trends

While our monthly podcast covers how to afford nursing home care, most Americans would prefer not to live in a nursing home if they require long-term care, according to The Associated Press-NORC Center for Public Affairs Research 2016 Long-Term Care trends poll.

Although only 14% of the population was age 65 and up in 2013, by 2040, that number is expected to increase to 22%, which means it’s vital to understand trends in long-term care preferences and attitudes.

Key takeaways from the poll found that among adults aged 40 and older:

• People are slightly more confident in their ability to afford nursing home care, but a majority do not think that they are on the right financial track to afford nursing care home if needed.

• Nearly 4 in 10 believe that Medicare will cover their long-term care needs, even though this is not true for most Americans.

• Over 75% would prefer to receive long-term care in their own homes, and over 60% would prefer their family members to receive in-home care.

• One-third have done no planning for their long-term care needs.

• 72% support state paid family leave programs to help provide long-term care to loved ones and family members.

• A majority favor policies that would help them save for long-term care, with tax breaks a preferred option.

Want to know more about trends in long-term care attitudes and financial tactics? Visit The AP-NORC Center’s long-term care project website at www.longtermcarepoll.org.

Need help planning for your long-term care needs? Contact the Robin S. Weingast & Associates team today to find out how we can help secure your future!