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While many Canadians know the personal sacrifices that often accompany elder care, few of us have actually factored long term care costs into our own retirement plans. “It’s rare to see individuals plan for their long term care needs. They recognize they will grow old and require help, yet few actually visualize this. Not surprisingly, they find care costs are much higher than imagined,” explains noted Canadian gerontologist Dr. Rubin Becker. Only 46 per cent of Canadians aged 35 to 75 are confident that provincial health care programs will adequately meet their future care needs, according to a 2007 study. What’s more, 51 per cent of respondents believe employee group benefit plans typically cover long term care – which generally proves untrue. Source: 2007 survey by Market Probe Canada among a random national sample of 1,008 Canadians aged 35 – 75, with annual household incomes of $50,000+. Margin of error: +/-3.1 percentage points, 19 times out of 20. | |||||||
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