1/24/2014

72% of affluent baby boomers believe Obamacare will cover long-term health care needs in retirement. Boy, are they in for a surprise.

A lot of people are in for a real shock about the benefits from Obamacare.  When they find out those benefit aren't there a lot of people are going to be disappointed.  From The Street: 
Nearly three-quarters (72%) of "affluent baby boomers" believe the Affordable Care Act will pay much of their long-term heath care needs in retirement and are "not adequately planning" for long-term care costs or "not planning at all, according to data from Nationwide Insurance. . . . 
The federal government covers some costs, through Medicaid and Medicare (40% and 23% for post-acute care, respectively, Heritage says), but the rest comes out of the pockets of consumers, directly or through long-term care insurance payments. 
What makes this particularly sad: Nationwide says 54% of boomers would "rather die than live in a nursing home," primarily because they don't want to financial burden their families. . . .

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