Just a quarter of the nation’s workers plan to use insurance to cover their long-term care expenses, according to new research.

The finding from Prudential Financial contradicts the fact that the aging American workforce is increasingly concerned about long-term care needs and the benefits available through employers, according to the insurer.

Lori High

“As Baby Boomers begin thinking about life after age 60, they grasp the implications of longer lives, post-retirement finances and lifestyles and nursing care costs,” said Lori High, president of Prudential’s Group Insurance business, in a statement. “As a result, workers are more aware of their own future long-term care needs and the impact on their retirement lifestyle.”

The study found that three in 10 workers said they don’t have a plan or don’t expect to need long-term care services for them or their spouse. Among those that do have a plan, their expectations may be unrealistic given the rising costs of long-term care. The most common sources of funding cited for long-term care were 401(k) or retirement savings, followed by Medicare, Prudential Financial found.

Those with care-giving experience place greater value on employee benefits including long-term care insurance, because they’ve seen how inadequate insurance coverage can drain resources, High said. However, a gap remains between this recognition and action to provide an adequate solution through the purchase of long-term care insurance, according to High.

The education gap is greater for women. Women tend to do more of the care giving and have more experience with care giving, yet they are less likely to have a plan for their own long-term care needs compared with men, the study found.