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Americans' Concerns Surrounding Long-Term Care

Recent research by Nationwide highlights a significant shift in how Americans perceive long-term care (LTC). Traditionally, discussions around LTC have predominantly focused on the financial implications of care. However, findings from the Nationwide Retirement Institute's latest survey indicate that the fear of navigating the complexities of long-term care without assistance is prevalent among Americans, eclipsing worries about the affordability of care itself.

According to the 2026 Long-Term Care survey, a staggering 84% of Americans express anxiety regarding the absence of an advocate while facing LTC needs alone. This is in contrast to the 71% who worry about their ability to afford long-term care if living independently. Additionally, concerns about not having the necessary help to coordinate care are echoed by 81% of respondents, while 81% also fear a decline in the quality of care they might receive when alone.

This information suggests a growing awareness among Americans that planning for long-term care encompasses more than just financial strategies; it involves crucial considerations regarding caregiving, decision-making, and advocacy. Holly Snyder, the president of Nationwide's life insurance division, emphasizes this evolution in thought, stating, "People wish to age with dignity and maintain their independence, knowing there will be trustworthy individuals available to assist in making decisions on their behalf. Yet, many families have yet to engage in these important discussions or develop actionable plans."

The Desire for Home Care

A notable 73% of respondents indicated a preference for receiving care in familiar surroundings, either in their own homes or at those of loved ones. When asked about potential caregivers, 50% of respondents expected their partner to assist, while 40% hoped for help from their children. Alarmingly, however, only a fraction of families have proactively taken the necessary steps to actualize this preference. For those desiring home care, only 37% have established a savings or investment plan to cover associated expenses, 27% have identified potential caregivers, and fewer than 25% (22%) have made modifications to their homes to facilitate aging in place.

This gap underscores a disconnect between the American ideal of aging and the preparation required to achieve it.

Caregiving's Impact on Future Planning

The realities of long-term care often become apparent when individuals assume the role of caregivers themselves. Statistics reveal that caregivers, on average, dedicate 22 hours each week to assisting loved ones, equating to a part-time job. Additionally, they incur non-reimbursed expenses averaging $382 per month, with primary decision-makers experiencing even higher costs averaging $445 monthly. The strain of caregiving is particularly prominent among Millennials, who juggle responsibilities of raising their children, caring for aging parents, and pursuing their careers.

Among this demographic, nearly three-quarters (73%) expressed a willingness to take loans from their retirement savings to support family caregiving, with 59% concerned that caregiving costs might deplete savings intended for their children's futures and 58% fearing that such expenses may derail their retirement plans.

Fortunately, caregiving can serve as a catalyst for increased awareness and preparedness regarding one's future care needs. Those who have cared for others report feeling more knowledgeable about LTC (82% compared to 59% among non-caregivers) and are more likely to identify their future caregivers (34% versus 20%). Notably, 40% of caregivers have established a financial plan for future care costs, contrasting with 31% of non-caregivers.

The Role of Financial Advisors

The survey findings reveal an essential connection between preparedness and collaboration with financial advisors. Among those who have acted as caregivers, 90% believe it would have been beneficial to discuss caregiving options prior to any need arising, while 92% stated that conversations regarding payment for care would have been valuable. Nevertheless, a considerable number of Americans remain hesitant to engage in discussions about caregiving responsibilities, preferred care methods, and associated costs. Consequently, families often find themselves confronting complex and pressing healthcare and financial decisions during crises instead of planning ahead.

Engaging with financial advisors appears to facilitate improved preparedness. Survey results indicate that individuals consulting advisors possess greater knowledge about LTC (84% versus 62% of those without advisors) and are more likely to have identified future caregivers (39% versus 18%) and engaged in discussions about care costs (72% compared to 51%).

As Holly Snyder notes, "Many families often postpone essential conversations until a health event or caregiving crisis forces them into action. Establishing a comprehensive plan can help safeguard finances, alleviate stress among loved ones, and instill greater confidence about how to age and receive care. Taking proactive actions—whether they involve financial preparedness, organizing care preferences, or designating trusted advocates—can significantly benefit families when navigating LTC challenges."

For further insights from the 2026 Nationwide Retirement Institute Long-Term Care survey, please visit Nationwide's website to access Snyder's blog and related content.