Nearly six in 10 women don't know how they will pay for future long-term care needs, according to a recent survey by the AARP.
The survey comes with this month's launch of the AARP's "Decide, Create, Share" campaign, designed to raise awareness and planning among women nationwide for their long-term care needs.
"Studies consistently show women are the biggest users of long-term care, and we're more likely than men to need these services," said Alyson Burns, director of the AARP's Long-term Care Awareness Campaign. "Yet we are so busy with our own hectic lives and caring for others that we'll only address our own needs after everyone else's."
According to the survey, 59 percent of women don't know how they'll pay for long-term care needs, while 40 percent don't know that long-term care is not just nursing home care, but a combination of care, including in-home services and daily help that may be needed for chronic conditions. Also, only 23 percent of women understand they will likely pay for future long-term care with personal savings, as Medicare and private health insurance don't cover long-term care services.
The AARP provides lifestyle and financial advice to help women understand if their family medical history suggests they may be at risk for certain conditions; assess current living conditions at home and whether it will suit changing needs; and talk with family about one's medical wishes and financial situation.
"Clearly, this isn't our parents' long-term care," said Elinor Ginzler, the AARP's senior vice president for livable communities. "Planning for your future these days involves thinking about your lifestyle needs and goals across many areas of your life – from your home and community to personal health, finances and medical wishes."
The AARP is scheduling long-term care information sessions in several cities this fall. In addition, women can access the long-term care planning section on the AARP's Web site at www.aarp.org/decide.