As the 2008 presidential election draws close voters are becoming extremely interested in what the candidates say in regards to long term care. A bi-partisan national survey conducted by Public Opinion Strategies (POS) and The Mellman Group revealed that close to 80% of American voters say they want to see long term care included in the health care proposals offered by the presidential candidates.  

According to the survey, more than 80%  confirmed that positions on long term care funding would be an important factor in deciding whom they’ll vote for in the 2008 election.

Despite these concerns the Public Opinion Strategies and the Mellman Group survey also found that 70% of Americans have not made any plans for their own loved ones long term care needs. Yet over 50% said they have had a loved one who needed some form of long term care.

According to another recent poll performed by John Hancock Life Insurance Company (Hancock) 80% of those surveyed knew the importance of long term care planning, but three out of four respondents severely underestimated the cost of long term care.“Clearly, this research shows that Americans are still in need of information on long-term care and how to pay for it,” commented Laura Moore, president, John Hancock Long Term Care.According the survey, some the misconceptions that Americans have about long-term care include:

• Seven in ten think the average cost of nursing-home care is $30,000; actual national average cost is $70,000.
• Four in five believe that less than 8 million Americans are receiving paid long-term care services. Actually, 12 million are.
• More than 60% of respondents were unaware that 40% of those receiving long-term care are under age 65.
• 40% believe Medicare covers the cost of nursing-home care for Alzheimer’s disease patients. It does not.

In an effort to help Americans plan for future AGIS.com has launched a Long Term Planning module. Plan for the costs of long term care with the Cost of Care calculator and find helpful tools to map out your retirement and insurance needs. With over 20% of American households involved in some type of long term caregiving the need for planning ahead is vital to save time, stress and worry later.

For more information on Long Term Care Planning check out these resources from AGIS.com:

Long term care insurance comparison checklist

Planning for long term care  

Filed under: AGIS, Long Term Care