• Over half of Americans aged 50 and older worry about long-term care costs, and don't feel confident that they'll be able to meet those costs: Only 16% feel financially prepared to finance their long-term care.



• Yet many respondents shirk from forecasting their chances of someday needing assistance with daily living activities. Of those willing to forecast, the majority don't think they'll need such assistance, which contradicts government projections that 70% of Americans age 65 and older will eventually need long term care.



• Most people don't grasp the scale of rising costs. Median respondents don't realize that based on conservative historical inflation rates, the cost of nursing home care could rise in 2030 by more than double what they project.(2) Conservative projections put long term facility costs (currently averaging $85,000) at $190,000 in 2030. (3)



• The depth of desire to receive long-term care at home is striking: Most Americans age 50 and older (83%) would rather survive 5 years at home than survive 10 years in a nursing home.



• Over a third of respondents with a partner (32%) would have to be physically forced to enter a facility if their partner were living in a different facility.



• Despite such strong preferences, many respondents who have decided where they want to receive long term care have not consulted key family members or advisors.

(1) U.S. Department of Health and Human Services. National Clearing House for Long Term Care Information, September, 2008.

(2) Given a hypothetical annual nursing home rate of $80,000, the median respondent projected a rise of 56%, to $125,000 in 2030, versus a rise of 123%, to $178,000, assuming the 4.3% historical inflation rate of the CPI's nursing home component.

(3) The following estimates of average current and projected long-term care rates are based on the American Association for Long Term Care Sourcebook and long-term care components of the Consumer Price Index: Current annual nursing home rate for a private room: $85,000. Projected annual rate by 2030: $190,000. Current annual 24/7 in-home care rate: $184,000 a year. Projected annual rate by 2030: $272,000. Current 40 hr/wk in-home care rate: $44,000. Projected 40 hr/wk in-home care rate by 2030: $65,000.