New Survey Finds One in Four Baby Boomers Erroneously Believe They Have Coverage for Long-Term Car...(This means that one in four (25 percent)...),Health

-- Majorities or near-majorities of Baby Boomers think Medicare or "other health insurance" will pay for long-term care. The new survey shows 54 percent of Baby Boomers think Medicare will pay for long-term care services. Forty-four percent believe "other health insurance" will pay. Even half of those who say they have long-term care insurance believe Medicare will pay for the care. Medicare does not, in fact, cover long-term care indefinitely. Medicaid will cover these services, but only after requiring individuals to spend down nearly all of their assets to qualify for assistance.

"Baby Boomers believe they have more coverage than they actually do, giving them a false feeling of financial preparedness to handle long-term care costs," said Robert Moran, Senior Vice President of StrategyOne.

The release of the data coincides with the start of Long-Term Care Awareness Week, a national effort to promote the value of long-term care insurance and highlight its importance as a key aspect of financial planning and health security.

To enhance these efforts, AHIP is urging grassroots action to educate consumers and policymakers about the importance of long-term care coverage. The Long-Term Care Champions Network is a national grassroots organization comprised of more than 5,000 members, including policyholders, their family members, caregivers, health care professionals, agents and concerned citizens with an interest in long-term care issues.

Throughout the week, LTC Champions are encouraged to recruit family members, caregivers, and/or clients to join the network; contact their Member of Congress and urge them to support legislation that would make long-term care insurance more accessible and affordable, including legislation to allow employers to offer long-term care insurance through a cafeteria plan or flexible spendin
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