Survey: U.S. has lax attitude towards long-term care costs

Americans are not preparing financially for long-term care, a new survey suggests.

A total of 57% of U.S. residents are concerned about long-term care costs but 70% have taken little or no action to address the problem, according to a new survey by the research company Matthew Greenwald & Associations for John Hancock Life Insurance. The survey involved 20-minute interviews with about 1,000 residents.

Also, more than 60% of respondents have not tried to calculate their estimated retirement costs, the survey found. Among those who did make calculations, almost half did not include long-term care costs.