“Long-term care planning, retirement savings suffered during pandemic: study,” by Kimberly Bonvissuto, McKnight’s Senior Living
“More than half of Americans don’t have any plans in place for long-term care as they age, and many halted or reduced retirement savings contributions during the pandemic, according to the results of a new study. … Fifty-one percent of older adult respondents reported not having any long-term care plans in place, whereas 10% said they have arranged to live with a child or another close family member.”
LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
This level of denial may seem irrational unless you understand that the vast majority of all “catastrophic” long-term care costs have been paid by Medicaid for the past 56 years. Read Medicaid and Long-Term Care for a full diagnosis, prognosis, and prescription for what ails long-term care.
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