LITTLE ROCK — (NewsUSA) - Many health insurance experts share a belief that the majority of Americans would be unprepared if they were faced with a medical crisis that required long-term care.

A recent study completed for the National Association of Health Underwriters found that most Americans are unaware of the costs of long-term care. The survey found that only one in four respondents correctly identified the national average range of annual long-term care costs. Additionally, 24 percent of Americans incorrectly assume Medicare covers the cost of long-term care.

With nursing-home costs averaging more than $60,000 annually and inhome care even more costly, a call to action is necessary to ensure Americans prepare themselves, according to NAHU.

The truth is that few Americans actually have long-term care bills paid for by government programs. Since Medicare does not cover such costs, Americans are forced to reduce their assets to poverty levels before they can be eligible for Medicaid, the federal-state health care program for the poor.

Long-term care insurance allows consumers to take control of their financial future and offers an alternative to relying on government-funded programs, for which most Americans do not qualify.

The NAHU study included 800 adults from both rural and urban markets across the country, representing a diverse range of economic and political backgrounds.

For more information, visit www.nahu.org.

News, Pages 21 on 09/09/2009

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