Americans Prioritize Caregiver Support Over Costs in Long-Term Care Planning

Event summary

  • Nationwide's 2026 survey reveals 84% of Americans fear lack of advocacy in long-term care (LTC) more than affording it (71%).
  • Only 37% have savings plans for LTC, 27% identified caregivers, and 22% modified homes for aging in place.
  • Millennial caregivers spend $382/month on non-reimbursed expenses, with 58% fearing caregiving will prevent retirement.
  • Financial advisors help families plan: 84% of their clients are knowledgeable about LTC vs. 62% without advisors.

The big picture

Nationwide's findings highlight a shift in long-term care concerns from financial to relational, reflecting broader demographic trends of aging populations and squeezed middle-generation caregivers. The data underscores an opportunity for insurers and advisors to develop products addressing both caregiving support and financial preparedness. With 73% preferring home-based care but few making concrete plans, the market gap remains substantial.

What we're watching

Caregiver Burden
How rising caregiving costs and time commitments will impact Millennials' financial futures.
Planning Gaps
Whether families will bridge the gap between LTC preferences and actual preparations.
Advisor Influence
The pace at which financial advisors can drive proactive LTC planning among clients.

Related topics

Insurance