Seniors Housing Weekly Update-- Consumers Still in the Dark About LTC Insurance
June 12, 2012
Consumers Still in the Dark About LTC Insurance
I did an interview recently with Chanel 12 News here in Connecticut about long-term care insurance, and I can’t tell you how many people have come up to me saying either that they had not heard of LTC insurance or wondering whether they should get it. And I live in a very educated community. I guess not educated on matters of long-term care and seniors housing. Seniors housing is included because these same people are now referring to any type of seniors housing as an “assisted care” facility, even calling CCRCs assisted living, when that is really just part of the equation. While the seniors housing industry has come a long way in the past 20 years, there is still much work that needs to be done to educate the consumer about senior living options and how to afford them. The biggest problem is that more than 50% of the baby-boomers will not be able to afford to live in what the seniors housing providers and developers want to operate and build. If the educated and relatively wealthy masses, young and old, are still confused about their options and how to pay for it, what does that say about the rest of the country? A big problem.