Putting Long-Term Care on the Radar Screen

Anthes, William L.; Lee, Shelley A.
September 2001
Journal of Financial Planning;Sep2001, Vol. 14 Issue 9, p130
Academic Journal
This article focuses on challenges surrounding long-term care planning in the U.S. A number of barriers faced financial planners to motivate individuals to plan for their health care. Among them is the perception and attitude of consumers toward long-term care. Most practice the wait and see approach wherein they wait for another ten years or so to invest on long-term care policy. Another barrier is the lack of information and knowledge about the risks, costs and options of care. A lack of well-trained professionals also poses a significant barrier. Even experienced planners ignore long-term care component in planning because they are also not knowledgeable about it. Another thing is the sense of government entitlement that many individuals assumed: that since they paid taxes, they deserve government support in terms of medical care.


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