Navigation Links
Congress Proclaims Support for Long Term Care Awareness Week; Recent Poll Shows Voters Want Long Term Care Included in Presidential Candidates' Healthcare Proposals
Date:11/6/2007

Research Also Reveals 70% of Americans Have No Long Term Care Plans

WASHINGTON, Nov. 6 /PRNewswire-FirstCall/ -- To focus attention on the growing impact long term care has on American families, the U.S. House of Representatives has for the first time issued a resolution proclaiming its support for national Long Term Care Awareness Week (Nov. 4 - 10).

Genworth Financial -- one of the nation's leading providers of individual long term care insurance* -- is among several long term care insurers actively participating in this industry-wide awareness campaign. During its annual LTC symposium held last month, Genworth Financial released the results of a new poll examining how voters feel about long term care issues as they relate to the upcoming presidential election.

According to the new bi-partisan national survey conducted by Public Opinion Strategies (POS) and The Mellman Group, nearly seven in 10 Americans have not made any plans for their own, a spouse's or another relative's long term care needs. Yet, more than half those surveyed have had a loved one who needed some form of long term care. The poll also found that close to 80 percent of the respondents want to see long term care included in the healthcare proposals offered by the presidential candidates. More than 80 percent of those surveyed also said that positions on long term care funding will be an important factor in deciding who to vote for in the 2008 election.

Genworth Financial also has published a new book on the future of long term care in America, written by leading experts, which discusses America's current long term care system and the challenges it will face as 78 million Baby Boomers age.

"This new book will hopefully encourage more people to think seriously about how their families would manage through a long term care situation," said Buck Stinson, president of Genworth Financial's long term care insurance division.

A single year of long term care in a facility can cost more than some household's income, according the Genworth's 2007 Cost of Care Survey. This study found that a single year in a private nursing home room in 2007 costs on average $74,806 nationally. Meanwhile, the median household income in the United States is $46,272.

Home care, which is where the vast majority of long term care is provided, costs more than most people may realize. The survey also found that the average hourly rate for a certified and licensed home health aide is $25.47 per hour, a cost that adds up to $52,977 per year for a 40-hour work week. A separate Genworth survey released in April found that 44 percent of Americans incorrectly believe that Medicare or their private health insurance pay for long term care.

The book, The Future of Long Term Care in America: Views and Recommendations by Prominent Experts, is composed of 10 chapters, each written by a different author such as AARP CEO Bill Novelli, former Congressional Budget Office Director Douglas Holtz-Eakin, American Health Care Association President and CEO Bruce Yarwood and National Alliance for Caregivers President and CEO Gail Hunt. It covers a wide range of long term care issues and is intended to inform policymakers, academics, financial advisors and consumers about the challenges associated with today's long term care system in meeting the demands of the aging Baby Boom generation. It also explores policy options that policymakers might consider.

The book is available at Genworth.com/FutureofLTC. It also may be ordered online for approximately $5 per copy on BarnesandNoble.com, Amazon.com and Borders.com.

"Today's model for long term care simply will not sustain the need for services in the future," said Stinson. "Currently, without private insurance, the only other choice for a family is to pay out of pocket, potentially spending every dollar saved for retirement until they are destitute and can qualify for state assistance. Our research tells us that people want more options and they want their government to be a partner in the process. Voters clearly want their next President to make long term care a national priority."

* LifePlans 2006 Long Term Care Individual and Group Association Top Writers Survey Results. Based on number of individual policies sold and individual annualized premium inforce. Long term care insurance is underwritten by Genworth Life Insurance Company and in New York, Genworth Life Insurance Company of New York.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading financial security company meeting the retirement, longevity and lifestyle protection, investment and mortgage insurance needs of more than 15 million customers. It has a presence in more than 25 countries. For more information, visit genworth.com.


'/>"/>
SOURCE Genworth Financial, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. TriWest Sponsors Congressional Medal of Honor Convention
2. Coalition for Pulmonary Fibrosis Launches Aggressive Ad Campaign Directed at United States Congress
3. AOA President Calls on Congress to Reauthorize SCHIP and Take Action to Ensure Health Care Coverage for All Americans
4. EDAP Launches Enhanced Communication Plans at SIU Paris Congress
5. World fertility experts to meet in Montreal - IVF and IVM patients to provide first-person accounts at 14th World Congress
6. Congress Poised to Add Millions of Uninsured Children to Successful, Bipartisan Health Plan
7. National Council on Disability Urges Congress to Support Americans with Disabilities Act Restoration
8. MUHC in the spotlight at the 14th World Congress on In Vitro Fertilization
9. Labopharm To Present Poster On Onset Of Analgesic Effect Of Once-Daily Tramadol At Congress Of The European Society Of Regional Anaesthesia And Pain Therapy
10. Health IT Now! Coalition Urges Congress to Pass Health Information Technology Bill This Year
11. Childrens Hospitals in Washington to Lobby Congress to Reauthorize SCHIP Now
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... May 26, 2016 , ... Dr. James ... Fighting Blindness, Long Island Chapter on June 4, 2016, 1:30-3:30 pm at the ... founder of Retina Group of New York , is a Board Certified ...
(Date:5/26/2016)... ... ... to provide hair restoration information to the widest possible audience, Dr. Parsa Mohebi is making ... app. Dr. Mohebi, the founder of Parsa Mohebi Hair Restoration, is making all of his ... says, “The positive response to the Snapchat videos we started last month has been overwhelming. ...
(Date:5/26/2016)... ... 2016 , ... Leadership of Life Science Logistics (LSL), a ... earned its ISO 13485 certification, indicating the company’s quality control system for medical ... associated with ISO quality standard 13485. , BSI Group America, Inc., a ...
(Date:5/26/2016)... ... 26, 2016 , ... The Lung Institute has partnered with the ... starting June 6 at their clinic in downtown Tampa. The class is complimentary for ... Institute has created a free downloadable 4 Week Smoking Cessation Guide for ...
(Date:5/26/2016)... ... May 26, 2016 , ... Nike Yoga Camps at East ... practices, arts & crafts, discussions, and games all geared towards enhancing your child’s ... combined backgrounds in kids’ yoga, collegiate sport yoga instruction, and global yoga training. ...
Breaking Medicine News(10 mins):
(Date:5/24/2016)... joined VMS BioMarketing as senior vice president of sales, announced Andrea Heslin Smiley ... lead the company,s business development and sales team, exploring new opportunities for VMS to ... http://photos.prnewswire.com/prnh/20160523/371089 ... ... ...
(Date:5/24/2016)... HONG KONG , May 24, 2016 /PRNewswire/ ... primer stent de doble terapia del mundo, introduce ... fístula arteriovenosa. OrbusNeich, una compañía global ... cambian las vidas, ha expandido su cartera incluyendo ... catéteres balón JADE™ y Scoreflex™ PTA son los ...
(Date:5/24/2016)... , May 24, 2016 ... Education in Clinical Neurophysiology  Elsevier , ... products and services, today announced the launch of ... open access journal that focuses on clinical practice issues ... case reports, clinical series, normal values and didactic reviews. ...
Breaking Medicine Technology: