WASHINGTON -- A new survey released by a financial services firm found that many Americans have failed to save money for long-term care, such as that provided by a retirement or nursing home.

Genworth Financial said 65 percent of those over age 40 admit to having made no long-term care plans for themselves or a spouse.

Genworth's Buck Stinson said the latest figures show the average national cost of a private room in a nursing home is nearly $71,000 a year. That's thousands more than the average U.S. family now makes in a year.

"As the first wave of America's 77 million baby boomers head into retirement this year, it becomes more critical for Americans to seriously evaluate how they will maintain their lifestyles as we live well into our 80s, 90s and beyond," said Stinson, president of Genworth's long-term care insurance business. "It's good news that the typical steep gains in nursing home costs have moderated this year. But the fact remains that most American households remain unprotected from the costly health challenges that come with greater longevity."

The poll also revealed most individuals recognized the need to prepare for the cost of long-term care, but were largely unprepared.

Many Americans surveyed also wrongly believed they had insurance protection, felt that their savings would be adequate to cover long-term care costs, and incorrectly believed that Medicare would cover long-term care costs.

According to Genworth, Alaska and New York remained the highest-cost regions for nursing home care, while Louisiana, rural Missouri and Kansas were the lowest-cost regions.

The survey found that the cost of care in urban regions is, on average, 17 percent greater than in non- urban regions -- a 5 percent increase over last year.

Here are some key findings from the Genworth survey:

• Nursing Homes: The average annual national cost of a private room in a nursing home is $70,912, or $194 per day, reflecting a 2 percent increase over 2005 rates of $190 a day.
• Assisted Living: A private one-bedroom unit in an assisted living facility has an average annual cost of $32,294 -- a 7 percent increase over 2005. Connecticut (Bridgeport area) has the highest annual cost at $57,566, while North Dakota and Arkansas were lowest at about $21,000.
• Home Care: The average hourly rate for home health aides across all different provider types was $25.32, a 13 percent increase versus $22.43 a year ago.