A new national survey discovered that while a majority of workers anticipate providing care for an aging loved one, few are adequately informed or equipped to handle the challenges that come with long-term care.
The report, released by the Employee Benefit Research Institute (EBRI), exposes a significant gap between caregiving expectations and actual preparedness among American employees.
There’s a massive disconnect between workers’ personal and financial readiness for future caregiving responsibilities. Nearly three-quarters (73%) of those surveyed reported having at least one adult in their lives they may need to care for. Despite this, most workers are unsure about the likelihood of needing care themselves, and even fewer have taken steps to prepare.
Only four out of ten employees believe they will need long-term care as they age. A large portion are either uncertain or do not expect to require it at all. Those who have already navigated the healthcare system for themselves or others are more likely to anticipate future care needs. Higher income and education levels are also linked to a greater awareness of long-term care issues.
Lack of Awareness and Employer Support
Knowledge about how to access care remains low across the workforce. Over one-third of employees said they have little or no understanding of how to find long-term services in their community. This lack of familiarity extends into the workplace, where only a quarter of benefits-eligible workers said their employer offers long-term care insurance. Actual participation is even lower, with only 9% enrolled in such a program.
The report also found that support services for caregivers at work are limited and often poorly communicated. Most employees were unaware of whether caregiver support groups or end-of-life resources were available through their employer.
As a result, even those who foresee caregiving responsibilities often have no clear sense of where to turn for help.
Financial Planning Gaps and Cost Misconceptions
The financial implications of care are another area of confusion. Many future caregivers underestimate the cost of long-term care, with most expecting to spend less than $50,000. A significant share believe Medicare will cover most expenses, although that program only offers limited support for long-term care. Others assume Medicaid will provide assistance, or expect to cover the cost personally.
Interest in state-level solutions appears strong. A majority of employees surveyed supported the idea of a payroll tax to fund long-term care benefits. When presented with different coverage options, more than half said they would prefer insurance that supports severe or extended care needs, while the remainder chose options that offer support earlier in the care process.
A Growing Caregiving Responsibility
The findings are based on responses from over two thousand workers between the ages of 20 and 74, with nearly 1,000 of them residing in states actively considering long-term care policy changes, including California, New York, and Washington.
This survey showed the quiet reality that millions of workers face. Many already provide care or expect to do so soon, yet few have the knowledge, financial planning, or workplace support needed to handle these responsibilities.
The data points to a clear need for improved education, access to benefits, and employer engagement to help workers prepare for the challenges of long-term caregiving in the future of work.
