Study: Younger People More Likely to Save for LTC

A new study has found that younger people are becoming more informed about their long-term care needs and are more likely to be saving for the future needs than older Americans.

The survey, which involved more than 2,000 people, found that 36 percent of people between 18 and 34 years old were saving for future long-term care needs. On the other hand, only 21 percent of people between 45 and 54 said they were saving.

The younger respondents were also less likely than other groups to believe that Medicare, Medicaid and other insurance would cover their long-term care needs.

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