Do households have a good sense of their long-term care risks?

Chen, Anqi, Alicia Haydock Munnell, and Nilufer Gok. “Do households have a good sense of their long-term care risks?”. Issue in Brief 25-3, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, February 2025. http://hdl.handle.net/2345/bc-ir:9100044.
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Abstract

The brief's key findings are: (1) About half of older adults will end up requiring some high-intensity long-term care (LTC). (2) The analysis explores whether people accurately perceive their LTC risks, comparing subjective and objective survey questions. (3) It turns out that the subjective measures are not good proxies for objective risk. (4) But the variation in the subjective responses suggests that Blacks, Hispanics, and women may be underestimating their risks. (5) These three groups also tend to have fewer resources to cover care needs.

Title
Do households have a good sense of their long-term care risks?
Author
Chen, Anqi
Munnell, Alicia Haydock
Gok, Nilufer
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
February 2025
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
25-3
Persistent Link
http://hdl.handle.net/2345/bc-ir:9100044
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing Retirement

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