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Americans lack long-term care plans, survey finds
Northwestern Mutual said 61% of Americans expect to need long-term care, and a 2025 home health aide cost of $99,280 per year highlights the planning gap.
Six in 10 Americans expect they will need long-term care, but most do not have a financial plan for it, according to Northwestern Mutual's 2026 Planning and Progress Study, which surveyed 4,375 U.S. adults in January 2026.
The study found that Americans with a financial advisor are twice as likely to have planned for long-term care compared with those without an advisor, with planning rates of 66% for their own needs and 58% for a loved one's care among the advised group. Among those without an advisor, the figures were 34% and 29%, respectively.
Northwestern Mutual highlighted that the cost remains a major missing input, citing that the annual expense for a home health aide providing eight hours of care per day reached $99,280 in 2025, based on the 2025 illumifin Cost of Care Study.
The insurer also pointed to cost growth, saying its analysis of national long-term care data showed an average annual increase rate of 4.77% between 2021 and 2025, raising concerns that retirees who do not include the expense in their planning may see it strain savings.