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Americans not planning for long-term healthcare

Posted On Wed, January 11, 2012

A survey from health insurance company John Hancock Long-Term Care showed that while six in 10 Americans think they will need some aspect of extended care, they are not planning for their healthcare futures.

More than 80 percent noted that it is not a good idea to hold off planning for long-term care, the survey found. Another 61 percent said that health insurance that specialized in long-term care is the best item to have in order to plan for the future. However, only 11 percent specified they own some type of long-term care insurance.

"While it is encouraging to see an increase in general knowledge," said Marianne Harrison, president of John Hancock LTC Insurance. "The survey's overall results are a cause for concern because most consumers appear to be making long-term care plans by default, thinking they'll rely on government programs, which already are showing signs of strain."

Those consumers who do not have long-term care health insurance options may want to compare health insurance quotes. It may be better to enter later life prepared rather than to risk not being covered.

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