The provider’s latest health pulse survey of 2000 people also showed that 26 per cent of pensioners do not know how they are going to fund their care.
Ahead of the government’s announcements on implementing recommendations made by the Dilnot commission on funding long-term care, Oliver Thomas, director of Bupa’s UK care homes, warned: “Because the system is so complex people do not understand the need to plan for their care should they need it in later life.
“The Dilnot proposals are a step in the right direction, but they will only help around 10 per cent of people who need care homes and do not solve the problem of chronic underfunding.
“The fact that so many people don’t know how they will pay for long term care highlights the need for the government to create a funding system that is both fair and transparent.”
Local councils have already admitted they are struggling to keep up with the rising cost of aged care as funding they receive from the government fails to make ends meet, a point made clear in the Dilnot report.
Mr Thomas added: “The government must fully fund any new proposals to implement Dilnot’s recommendations or the chronic gap in funding will just get worse and older people will suffer.”
Parliament’s scrutiny committee for the Draft Care and Support Bill is currently looking at how the bill would be implemented.
Mike Horseman, managing director of Nottingham-based Cockburn Lucas, said: “Anyone over 65 would be wise to plan ahead for their care future. Mentally, this is a big hurdle to get over but, in our experience, people who plan ahead in this way find it a huge relief afterwards.”
26% of retirees don’t know how they will fund care
25% of people worry about how they be able to afford long-term care
22% concerned about who will look after them
47% pensioners think their care in old age will be funded by the NHS or their local authority