Worker confidence in having enough money to pay for long-term care (LTC) expenses in retirement seems to be rising and falling along with the overall health of the economy.
The U.S. economy seemed a little stronger in 2011 than in 2010, and a little weaker earlier this year than around the same time last year. Long term care confidence levels have been moving roughly in sync with overall economic confidence levels.
The survey team polled 1,262 U.S. adults over the telephone in January. The sample included 1,003 workers and 259 retirees. All participants were ages 25 and older.
Only 9% of the workers surveyed said they were very confident that they would have enough money to pay for LTC expenses in retirement. The percentage was unchanged from last year, and the level of firm long term care funding confidence is at the lowest level that it has been since 1998.