Long-Term Care
Plan Today So Your Family Isn’t Forced to Decide Tomorrow
It’s not easy to think about needing help later in life — but statistically, more than half of Americans will need some level of long-term care during their lifetime.
Long-term care (LTC) refers to services that help with everyday living when you can no longer care for yourself independently. These services are not fully covered by traditional health insurance or by most portions of Medicare.
The real question isn’t if care will be needed.
It’s how you’ll pay for it.
What Is Long-Term Care?
Long-term care includes help with routine daily activities such as:
- Bathing
- Dressing
- Eating
- Toileting
- Managing incontinence
- Getting in and out of bed or chairs
It may also include supervision or specialized care for cognitive conditions such as Alzheimer's disease.
Care can be delivered in multiple settings:
- Your home
- Assisted living facilities
- Memory care centers
- Nursing homes
- Adult day care programs
Why Planning for Long-Term Care Matters (2026 Data)
According to updated research from the U.S. Department of Health & Human Services and industry cost surveys:
- ~56% of people age 65+ will need long-term care at some point in their lives.
- ~22% may need care for 5 years or longer.
Most people underestimate how long care is needed and how quickly costs grow each year.
2026 Long-Term Care Costs
Long-term care expenses vary by service and location, but national median costs have continued rising:
Daily & Annual Care Costs
- Home health care: ~$185 per day (~$67,500 per year)
- Adult day care: ~$61 per day (~$23,000 per year)
- Assisted living: ~$162 per day (~$59,600 per year)
- Memory care: ~$187 per day (~$67,500 per year)
- Nursing home care: ~$353 per day (~$128,800 per year)
Cost increases have averaged 8%–12% annually in recent years.
Nursing Home Reality
- Average stay: 3–5 years
- Total potential cost of care:
- $324,000 – $540,000 (conservative)
- $378,000 – $630,000 (higher-cost scenarios)
Without planning, these expenses can quickly exhaust retirement savings.
What Happens Without Coverage?
Options are limited if you do not have long-term care insurance:
Government Programs
While Medicaid can help with care costs, you typically must spend down most assets before qualifying. Care facility options may also be limited to providers that accept government reimbursement.
Medicare Limitations
Medicare generally only covers short-term skilled nursing or rehabilitation services. It does not cover custodial care — which is the assistance most long-term care patients need.
Why People Purchase Long-Term Care Insurance
Most clients purchase coverage between ages 50 and 65 for two main reasons:
Protect Assets
Long-term care is one of the fastest ways to reduce retirement savings.
Maintain Care Choice
Insurance allows more control over where and how care is received, instead of relying on limited public options.
Waiting until care is needed is rarely possible. Serious medical conditions often disqualify applicants from coverage.
How Long-Term Care Insurance Works
You select coverage levels including:
- Daily benefit amount
- Lifetime benefit pool
- Coverage duration
- Inflation protection options
- Elimination period (typically 30–90 days)
You generally qualify for benefits if you cannot perform 2 of 6 Activities of Daily Living (ADLs) independently, or if you experience cognitive impairment.
Activities of Daily Living (ADLs)
- Bathing
- Dressing
- Eating
- Toileting
- Transferring
- Managing continence
Before benefits begin, most policies require you to pay out of pocket during an elimination period before reimbursement starts.
Some carriers also offer shared care policies for couples, allowing spouses to share unused benefits.
What Impacts Your Cost
Premiums are based on:
- Age and health history
- Gender (women typically pay more due to longer life expectancy)
- Marital status
- Coverage design choices
- Insurance carrier selection
- Inflation protection options
The earlier you plan, the more affordable and flexible your coverage can be.
You Have Coverage Options
Today, long-term care planning can be customized using several strategies:
- Traditional long-term care insurance
- Hybrid life insurance with living benefits
- Asset-based or cash value protection solutions
Our goal is to help you protect your retirement, your family, and your independence.
Take Control of Your Future Today
Long-term care planning is about preserving dignity, independence, and financial security for the people you love.
Contact Us Today to review your options and design a plan tailored to your retirement goals.
