Unveils consumer-friendly website www.MyLifeMyFamily.com

(Washington, DC) – America’s Health Insurance Plans (AHIP) today launched a new national education campaign to better inform consumers about their risks of needing long-term care and the valuable financial protection long-term care insurance provides. 

“Too many Americans are not adequately protected against the risks of needing long-term care,” said Karen Ignagni, President and CEO of AHIP. “We are providing consumers with accurate and timely information so they can better prepare for the unpredictability and soaring expense of long term care.” 

The centerpiece of this campaign is a new consumer-friendly website, www.MyLifeMyFamily.com, to provide consumers with basic information about long-term care insurance. The website provides videos that feature real-life stories from current policyholders, an interactive online quiz, and additional resources on long-term care insurance. 

AHIP commissioned a series of surveys and focus groups to assess consumers’ perceptions of long-term care insurance. Many Americans underestimate their risk, underestimate the cost of long-term care, and many erroneously believe they have long-term care coverage. Moreover, most are not focused on planning for long-term care and are not taking appropriate steps to protect their retirement savings should they need long-term care services. 

The new education campaign seeks to correct common misconceptions about long-term care, answer consumers’ questions, and highlight the important financial protection and peace of mind that long-term care insurance provides. 

Key facts about long-term care insurance:

• A 65-year-old today has a 70 percent chance of needing long-term care services at some point during his or her lifetime.
• One year in a nursing home costs an average of $75,000.
• Long-term care insurance reduces a person’s chances of having to spend down assets to the point of impoverishment and Medicaid eligibility by 66 percent.
• An overwhelming majority – 97 percent – of policyholders receiving benefits from their long-term care insurance policy are satisfied with how their claims are handled.

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America’s Health Insurance Plans – Providing Health Benefits to More Than 200 Million Americans