The Financial Capacity of the Elderly to Insure for Long-term Care

Abstract

Considered was the financial capacity of the elderly for purchasing any of four emerging long-term care plans: Social/Health Maintenance Organizations, long-term care insurance, Life Care at Home, and Continuing Care Retirement Communities. Between 50% to 80% of all elderly could afford to purchase one of these plans depending on the amount of discretionary income they would be willing to spend. The market for these options will largely be determined by the willingness of the elderly to spend assets.