Americans Worried About Long-Term Care but Have No Plan to Pay For It: Genworth

Half of consumers would let others worry about their care

By Michael S. Fischer ContributorThinkAdvisor

Genworth Financial has published new research on American consumers’ ignorance about long-term care costs and financing options.

Being able to pay for care is adults’ greatest concern when it comes to aging, Genworth said, but just one-fifth of the participants in a recent survey the company sponsored told pollsters they had taken steps to prepare for long-term care expenses.

In addition, only half of those surveyed said they would take personal financial responsibility for their own care as they age.

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