“Survey Identifies Long-Term Care Planning Resisters,” by Allison Bell, ThinkAdvisor
“SOA analysts found, for example, that 46% of the oldest old survey participants said that they had had no discussions about the type of lifestyle they wanted for the rest of their lives. About 34% said they had already made plans for coping with LTC costs, and 11% said they intended to do that. But 49% said they hadn’t planned for LTC costs and were not going to plan for LTC costs. Similarly, 42% of the adult children with oldest old parents said their parents had planned for LTC costs, and 10% said their parents would do so later. But another 42% of the adult children said their parents had not planned for LTC costs and had no intention of planning for LTC costs.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Is it irrational denial, conscious intention to let government pay, or mindless failure to consider risk enabled by over half a century of Medicaid paying for most expensive LTC? I think it’s the latter.