Summary
Understanding
how retirees perceive their long-term care needs is critical for
anticipating demand and closing gaps in planning, education, and
financial
preparedness. As the U.S. population
ages, the need for long-term services and supports continues to grow. In
fact, more than half of Americans turning
65 are projected to develop a disability
serious enough to require long-term services, yet many retirees remain
unprepared — both financially and psychologically.
Misunderstanding or underestimating the
likelihood of needing care can delay important planning steps, leaving
individuals vulnerable to high out-of-pocket
costs. This Fast Fact
reviews the important findings of the latest EBRI Spending in
Retirement Survey, which
included a spotlight on over 3,600
retirees’ perspectives on long-term care.