NU Online News Service, July 14, 2004, 7:03 p.m. EDT
Results from a new survey confirm that U.S. residents nearing age 65 still have unrealistic expectations about retirement finances.[@@]
When researchers polled 500 U.S. residents between the ages of 50 and 65 through the Web in March for AARP, Washington, and MetLife Inc., New York, they found that only 14% expect to need day-to-day assistance or ongoing health care during their retirement and that 40% expect to use their regular health insurance to pay for long term care if they do need ongoing care.
In reality, the survey sponsors say, few ordinary health plans cover LTC expenses.