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

Chen, Anqui, Alicia Haydock Munnell, and Nilufer Gok. “Do households have a good sense of their long-term care risks?”. CRR WP 2025-5, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, February 2025. http://hdl.handle.net/2345/bc-ir:9100045.
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Abstract

Many older adults will require some degree of long-term care (LTC) later in life, with more than half needing more intensive support, often for an extended period. The resources required to meet such high-intensity, long-duration LTC needs -- provided by family members or through paid formal care -- can be substantial. This paper addresses the question of whether older adults understand their LTC risks and whether the accuracy of their perceptions varies by socioeconomic characteristics.

Title
Do households have a good sense of their long-term care risks?
Author
Chen, Anqui
Munnell, Alicia Haydock
Gok, Nilufer
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
working paper
Date Issued
February 2025
Publisher
Center for Retirement Research at Boston College
Series Title
CRR WP
Series Number
2025-5
Persistent Link
http://hdl.handle.net/2345/bc-ir:9100045
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
Health
Long-Term Care

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