There's been no shortage of misconceptions about Obamacare but the one that Nationwide uncovered stands out.

The Nationwide Financial Retirement Institute said that it found more than seven in 10 affluent baby boomers mistakenly think the Patient Protection and Affordable Care Act will cover their long-term care costs in retirement.

The institute's annual survey, released this week, also reveals that while boomers desperately want to receive LTC in their home, few are adequately planning for the costs – and many are not planning at all.

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