NU Online News Service, May 23, 2003, 5:13 p.m. EDT – Roughly three-quarters of U.S. residents over age 44 are familiar with the major long-term care options, but only 17% say they now have insurance to cover long-term care costs, according to survey results released by the American Society on Aging, San Francisco.
The researchers who conducted the survey, which was funded by State Farm Mutual Automobile Insurance Company, Bloomington, Ill., found that two-thirds of the participants believe that having enough money to be able to choose a long-term care facility for themselves or someone close to them is very important, and that 77% of the participants who are still working are putting aside money for retirement.
But only 37% of the participants say they have saved anything to cover long-term care costs.
