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News Story
Updated: 11/26/2017 08:30:01AM

Don’t get caught in the blind spot

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THE ASSOCIATED PRESS

In this April 14, 2016, file photo, a son, at right, holds his mother's hand at her nursing home in Michigan. Many Americans have a blind spot when it comes to retirement planning: long-term care costs. Even though the majority of Americans will at some point need long-term care, few are planning for it. Many underestimate the costs and mistakenly believe health insurance can help cover it.

By ALEXANDRA OLSON

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NEW YORK — Many Americans have a blind spot when it comes to retirement planning: long-term care costs. Even though the majority of Americans will at some point need long-term care, few are planning for it. Many underestimate the costs and mistakenly believe health insurance can help cover it.

“This is not like being struck by lightning. It is something we will all face in our lives,” said Bruce Chernof, president and CEO of the SCAN Foundation, which researches care for older adults. “One way or another, it will touch the lives of every single American.”

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