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Preferences for LTC Financing

It is important to plan now for the possibility of needing LTC services in the future.

  %, Strongly Agree/Agree
It is important to plan now for the possibility of needing LTC services in the future 71,2
Other 28,8

Responsibility for LTC

Responsibility for LTC %, Strongly Agree/Agree
Responsibility of individuals to finance their LTC 58.7
Responsibility of children/family to finance LTC 17.4
If family members can no longer pay, relatives should help 20.3
Responsibility of government to help pay for LTC 37.1

Government involvement with LTC financing

Government involvement with LTC financing %, Strongly Agree/Agree
Government should promote LTC insurance through taxes 62.4
Government should allow LTC purchase with IRAs* and 401(k)s 69.1
Government should require all people to purchase LTC insurance 15.7
Government should pay LTC costs when insurance benefits run out 40.9
Government should offer voluntary, public LTC insurance plan 62.9
Government should establish mandatory, public LTC program 18.4

Personal involvement with LTC financing

Personal involvement with LTC financing %, Strongly Agree/Agree
Everyone should have LTC insurance and a mandatory, public program is the way to accomplish that 19.5
Everyone should have LTC insurance, but private companies should provide the insurance 23.2
Requiring people to buy LTC insurance is OK, if price is not too high 40.5
Knowing that I have some LTC insurance will give me peace of mind 66.4
Paying for LTC is individual responsibility, not government 46.6
Government should not tell me what to do about LTC insurance 62.7
I have other priorities for my money than buying LTC insurance 44.4
I do not trust government to run a LTC insurance program 51.1
I do not trust private insurers 32.3
I don't think I will need LTC so I don't need insurance 11.6

Own private long-term care insurance policy

  %, Strongly Agree/Agree
Own private long-term care insurance policy 11,5
Other 88.5

NOTES:

*IRA = Individual Retirement Account

All results are presented weighted.

SOURCE: RTI analysis of the 2014 ASPE Long-Term Care Awareness and Planning Survey