Survey Finds Ignorance About LTC Coverage

SAN FRANCISCO, CA -- 05/27/2003 -- (Eli Digital)

When it comes to long-term care financing, Americans have a lot to learn.

A new survey of Americans over the age of 44 found that while most Americans consider long-term care an important health issue, an alarming number show a lack of understanding about how LTC is paid for. In fact, a majority of those surveyed -- 62 percent -- have at least one serious misconception about who provides coverage or the terms under which coverage is offered.

Funded by State Farm Insurance and conducted by RoperASW, the survey found that 40 percent of respondents were unaware that Medicare provides only limited coverage for skilled nursing care. It also found that 30 percent of respondents did not know that Medicaid covers long-term care only for those who have depleted nearly all of their own financial resources.