Most Americans Unaware of Long Term Healthcare Costs

Liz Perry for Leaders in Healthcare – September 8, 2008

The results of a recent series of surveys by America’s Health Insurance Plans (AHIP) indicate that many Americans underestimate their risk and term care costs, and are unsure whether they have long term care coverage. The majority have not planned for long term care and have not protected their retirement savings should they need long term care services. With an increasing aging population, long term care will become applicable to a larger portion of the population. In addition, life expectancy continues to increase. According to the World Health Organization, average life expectancy for Americans has risen from 75 to 78 since 1990. As Americans continue to live longer, they will need more care, which is why the long term care industry is on the verge of explosion. Qualified, educated individuals will excel in this area, with many opportunities for growth and advancement.