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The Costs of Long-Term Care: Public Perceptions versus Reality in 2006

How much do age 45+ Americans really know about long-term care (LTC) costs and how to pay for them? Not as much as they think they do. And much of what they think they know frequently turns out to be inaccurate.
Of those surveyed...
  • 60 percent say they are at least “somewhat familiar” and 21 percent say they are “very familiar” with LTC services currently available
  • 8 percent are able to estimate the monthly cost of nursing homes within 20 percent plus-or-minus while 17 percent say they “don’t know”
  • 9 percent come within 20 percent plus-or-minus of the cost for an in-home visit by an aide and 20 percent don’t know

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