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LONG-TERM HEALTH CARE AND FINANCIAL SECURITY.

LONG-TERM HEALTH CARE AND FINANCIAL SECURITY. Paul J. Hollev and T. Morris Jones, College of Business, University of North Alabama.

Society's prospective of financial security has changed considerably over the last few years. For example, families have purchased for many decades all sorts

of insurance (life, health, disability, auto, home and burial) but have failed to make provision for long-term care of family members whatever their age. In some situations, failure to provide for long-term care has been disastrous from a financial standpoint. The present research focuses on several aspects of long-term care including: (1) adult daycare centers, (2) home health providers, (3) assisted living facilities and (4) nursing homes. Since there is a 50 percent chance or better that a family member will need one or more of these four services, then many families in the mid-range of income should make some provision for long-term care.

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