Just 3% of people are saving for care home costs, according to research by Care England, the largest representative body for independent providers of adult social care.
Care England said almost three quarters of people (73%) do not know the average cost of a care home and more than half (56%) had no idea whether they would be entitled to state funding.
Professor Martin Green OBE, Chief Executive of Care England, (pictured) said: “This new research from Care England comes at a time when social care is high on the political agenda. It shows that we as a sector need to do more to inform the public and dispel the myths that have evolved.”
The research comes as care homes across the country prepare to open their doors to the public this Friday.
Martin added: “We hope that communities will engage with Care Home Open Day as a means to celebrate their connections with their local community.”
Care Home Open Day this year focuses on the importance of friendship. Care England research shows 57% of people believe greater intervention with the local community can combat isolation.
The research also found that six in 10 people believe more flexible visiting hours would be helpful.
For more information, visit www.carehomeopenday.org.uk