Paying for Long-Term Care Is Bigger Worry Than Paying for Retirement, Americans Say

7 in 10 Flunk Quiz about Long-Term Care, Revealing Information Gap

WASHINGTON, Feb. 11, 1998 -- More Americans worry about paying for long-term care than paying for retirement, according to a survey of 1,000 adults. The survey, released today by the National Council on the Aging (NCOA) and John Hancock Mutual Life Insurance Co., also found that seven out of 10 Americans flunked a quiz about the basic facts of long-term care. In addition, 48 percent of respondents indicated they have done little or no long-term care planning.

In the survey, 69 percent of Americans said they are worried about how they will finance long-term care for themselves and their spouses compared to 56 percent who said they are worried about paying for retirement. This greater concern about long-term care than retirement holds true across all age groups and across all income levels. Baby boomers age 35 to 44 were the most likely (77 percent) of all age groups to express worry