Recent investment panic aside, boomers are simply not prepared to deal with their long-term health care needs. A recent survey by the Life and Health Insurance Foundation for Education shows 64 percent of Americans age 45 and older say the recession has had a "major" negative impact on their ability to pay for long term care services, should the need arise.
Considering more than half of all adults (58 percent) think it is likely they will need long-term care services at some point in their lives and the cost for long term care services is $70,000, according to Deb Newman, CLU, ChFC, LTCP, and spokesperson for LIFE, circumstances are ominous to say the least.
