Study shows fewer seniors own LTC insurance than they believe

Share this article:

Almost one-third of the elderly believe they own long-term care coverage, when in fact fewer than 10% of seniors eligible for the insurance actually own it, according to a recent nationwide study by Bankers Life & Casualty Co.

Furthermore, about 60% of elderly surveyed said they believe Medicare will cover long-term care costs, but Medicare covers only 100 days of skilled care following hospitalization.

Ultimately, the study concluded that both seniors and their adult children are confused and mistaken about the long-term care coverage they might receive from Medicare.

Share this article:

More in News

Skilled nursing facility trends contribute to improved Medicare outlook, Congressional report says

The Medicare trust fund is on track to remain solvent until 2030, trustees of the program stated in a Congressional report released Monday. This improved outlook is due in part to revised expectations about the case mix in skilled nursing facilities.

House bill would define, promote coordinated long-term care services

A bill introduced in the House of Representatives would target improved care coordination for seniors, also adding it under the Older Americans Act.

Seize the day: Tech Awards deadline is tomorrow

Seize the day: Tech Awards deadline is tomorrow

The final countdown has begun: Long-term care providers have less than 48 hours to enter the third annual McKnight's Excellence in Technology Awards. Submissions will be accepted through July 30.