This year, approximately 78 million people in the U.S. will be turning 65, according to the nonprofit organization Volunteers of America. Experts say that this rapidly growing population of aging baby boomers could cripple the country's financial and healthcare systems, in addition to adding to the economic burden of future generations.

"As our report states, preparation must occur on more than just the personal level," said Mike King, president of Volunteers of America. "Local, state and federal governments must begin to make changes now to help current caregivers and future retirees so that the impending wave of baby boomers does not wipe out the finances of future generations."

Survey respondents said that they wanted to see a strategy developed that allows access to health insurance for seniors without necessitating the use of personal assets in order to qualify. Many of those who participated suggested expanding state public-private partnerships in order to accomplish this goal.