Colorado Long-Term Care Insurance
Compare Colorado Plans, Costs & Coverage Options
For more than 30 years, ACACIA Insurance has helped Colorado residents plan for their long-term care needs. As fully independent advisors, we compare long-term care insurance plans and highly rated companies to provide personalized, unbiased recommendations.
We review benefits, features, and pricing to help you choose the long-term care insurance coverage that fits your goals and your budget.
Get Personalized QuotesCompare Quotes from Multiple Carriers
TABLE OF CONTENTS
- Do I Need Long-Term Care Insurance in Colorado?
- Colorado Long-Term Care Costs
- Medicare and Long-Term Care in Colorado
- When To Buy Long-Term Care Insurance in Colorado
- Types of Long-Term Care Insurance in Colorado
- Colorado Long-Term Care Partnership Program
- Long-Term Care Insurance Companies in Colorado
- Cost of Long-Term Care Insurance in Colorado
- FAQs About Long-Term Care Insurance in Colorado
Estimated reading time: 8 minutes
Do I Need Long-Term Care Insurance in Colorado?
Many Colorado residents are surprised by how likely long-term care becomes later in life and by how quickly costs can add up. Care needs often arise suddenly, and expenses vary widely across the state. This makes advance planning especially important. The facts below provide a clearer picture of long-term care risks and costs in Colorado and can help you determine whether long-term care insurance is a good fit for your situation.
The Likelihood of Needing Care
Colorado residents face the same long-term care risks as the rest of the country. Nearly 70% of people turning 65 today will need some form of long-term care in the future, with an average duration of about three years.1
How Long Care Lasts
For Colorado families, this means planning ahead is essential. While one-third of people may never need long-term care, 20% will need it for longer than 5 years. On average, women need 3.7 years of care while men need 2.2 years.2
Care Costs in Colorado
In 2026, the average for 3 years of long-term care in Colorado is $364,125, or about $121,375 per year. By 2046, that figure is projected to rise to $797,844, or $265,948 per year.3
Colorado Long-Term Care Costs
Long-term care costs vary across Colorado. A private nursing home room averages $119,074 a year in Grand Junction and $166,387 in Boulder. The table below shows 2026 averages for all seven regions.
Long-Term Care Costs in Colorado 2026 | |||
| Region | Nursing Home (private room) annual / monthly | Assisted Living (private room) annual / monthly | Home Health Aide (44 hrs/week) annual / monthly |
|---|---|---|---|
| Colorado Average | $121,375 $10,115 a month | $70,748 $5,896 a month | $96,430 $8,036 a month |
| Boulder | $166,387 $13,866 a month | $88,664 $7,389 a month | $105,333 $8,778 a month |
| Colorado Springs | $120,308 $10,026 a month | $63,336 $5,278 a month | $83,204 $6,934 a month |
| Denver-Aurora | $128,767 $10,731 a month | $80,852 $6,738 a month | $100,232 $8,353 a month |
| Fort Collins-Loveland | $132,669 $11,056 a month | $77,457 $6,455 a month | $92,282 $7,690 a month |
| Grand Junction | $119,074 $9,923 a month | $65,518 $5,460 a month | $85,609 $7,134 a month |
| Greeley | $142,112 $11,843 a month | $72,145 $6,012 a month | $100,891 $8,408 a month |
| Pueblo | $119,773 $9,981 a month | $69,650 $5,804 a month | $106,378 $8,865 a month |
| Source: Nationwide Financial 2026 Cost of Care Survey (HVS), accessed September 29, 2026. Monthly figures are the annual cost divided by twelve. | |||
Medicare and Long-Term Care in Colorado
Medicare 
treats long-term care as a brief recovery, not an ongoing need. It covers a skilled nursing facility only after a hospital admission of at least three days. You owe nothing for the first 20 days. From the 21st through the 100th, your share is $217 a day in 2026. Coverage ends there. Custodial help with bathing, dressing or eating is never included.
Colorado runs Medicaid under the name Health First Colorado . A private nursing home room here averages $121,375 a year, and a home health aide costs $96,430. That aide figure is about 23% above the national average. To qualify for Medicaid long-term care, a single applicant may hold $2,000 in countable resources. Monthly income must stay under $2,982. A spouse who remains at home may keep up to $162,660. Home equity up to $1,130,000 does not affect eligibility. Residents of a nursing home keep $110.36 a month for personal needs. The rest of their income goes to the facility.
For care at home, Health First Colorado offers the Elderly, Blind, and Disabled waiver . It serves adults 65 and older with a significant functional impairment. It also serves adults 18 to 64 who are blind or physically disabled. Every applicant must need care at a nursing home level. Waiver rules and limits can change from year to year. A private policy keeps the benefits written into it the day you buy.
Learn more about Medicare and custodial care ➜
When To Buy Long-Term Care Insurance in Colorado
What is the right age to buy long-term care insurance? No single age fits everyone. Health, budget and goals all shape the answer. These patterns hold for most Colorado buyers:
- Mid 50s to early 60s. The most common window. Rates are still moderate, and health discounts remain within reach.
- Your 40s. Lower premiums and an easier approval, in exchange for more years of payments.
- Late 60s and beyond. Still workable for many. Pricing climbs, declines happen more often and discounts usually disappear.
Nursing home costs in Colorado rise about 4% a year. That outpaces the 3.5% national rate. Denver, Boulder, Colorado Springs, Greeley and Grand Junction run closer to 5%. Those increases build on each other until the day you need care. Inflation protection lets your benefit grow to keep pace.
Already past 65? Do not assume it is too late. Carriers underwrite to different standards, and products vary just as widely. Plenty of applicants at that age still qualify. A licensed specialist can review your situation and put real numbers next to it.
Find Out If You QualifyTypes of Long-Term Care Insurance in Colorado
Colorado residents can choose from several long-term care insurance options, each designed to help cover care at home, in assisted living, or in a nursing facility. Understanding how traditional long-term care insurance, hybrid life/LTC policies, LTC annuities, and short-term care plans differ can help you decide which type fits your budget, health, and long-term planning goals.
Traditional Long-Term Care Insurance
What It Is: A standalone policy specifically designed to cover comprehensive long-term care expenses, including in-home care, assisted living facilities, and nursing homes. These policies are fully portable and provide coverage wherever you receive care.
Coverage Benefits: Provides the most extensive long-term care coverage per dollar spent with flexible daily or monthly benefit amounts for your selected benefit period. Ideal for Colorado residents planning comprehensive care coverage.
Premium Structure: Recurring payments (monthly, quarterly, or annually). Premiums may experience rate adjustments over time based on insurance company claims experience.
Health Requirements: Requires full medical underwriting with stricter health qualifications than hybrid options. Your current health can significantly impact eligibility and premium costs for Colorado applicants.
Tax Advantages for Colorado Residents: Premiums for tax-qualified long-term care insurance policies may qualify as medical expenses for federal tax deductions (subject to income thresholds). Colorado also offers a state tax credit on premiums for households under set income limits. Benefits received are generally tax-free.
Life Insurance with Long-Term Care Rider (Hybrid Life + LTC)
What It Is: A permanent life insurance policy with an added LTC benefit rider that allows policyholders to access the death benefit early for qualified long-term care expenses, regardless of where care is received.
Coverage Benefits: Typically provides 2 to 4% of the death benefit monthly for long-term care with guaranteed cash value growth. Unused benefits pass to beneficiaries tax-free.
Premium Structure: Guaranteed level premiums that NEVER increase. Higher initial cost than traditional LTC insurance but protected from future rate increases. Can provide important stability for Colorado residents on fixed incomes.
Health Requirements: Moderate medical underwriting with more flexible health guidelines than traditional LTC insurance, making qualification easier for many Colorado applicants with health issues.
Tax Advantages for Colorado Residents: Can utilize 1035 exchanges from appropriate existing policies without tax consequences and can be funded with qualified retirement accounts (IRAs, 401(k)s).
Annuity with Long-Term Care Rider (LTC Annuity)
What It Is: A fixed rate or indexed deferred annuity contract with an integrated long-term care benefit rider, ideal for those seeking asset protection with a simplified approval process. Coverage is portable and can be used anywhere care is needed.
Coverage Benefits: Typically multiplies your annuity value by 2 to 3 times for long-term care expenses. For example, a $100,000 annuity might provide $200,000-$300,000 in LTC coverage. If not exhausted for healthcare, the annuity value transfers to your estate at death.
Premium Structure: Can be purchased with a single premium payment with NO future premium payments or rate increases. Best for Colorado residents with existing assets to reposition for long-term care planning.
Health Requirements: Simplified underwriting with the most lenient health qualifications, sometimes requiring only a phone interview rather than medical exams or records review. Ideal for Colorado residents with health concerns.
Tax Advantages for Colorado Residents: Supports tax-free 1035 exchanges from existing annuities, and LTC benefits are generally received tax-free under current federal tax rules.
Short-Term Care Insurance
What It Is: A policy that provides coverage for care in a nursing home, assisted living, or at home for a shorter duration, typically up to 12 months. Coverage is portable and can be used wherever you need short-term care.
Coverage Benefits: Helps cover costs for short-term care needs, including recovery from surgery, illness, or injury. Most policies have a 0-day deductible with benefits paid as soon as you qualify. This bridges gaps before long-term care insurance or Medicare coverage begins for services like home health aides.
Premium Structure: Generally lower than long-term care insurance due to the shorter benefit period, making it an affordable option for many Colorado families.
Health Requirements: Often features simplified underwriting with fewer health questions, making it easier to qualify. Very helpful for Colorado residents who may not meet traditional long-term care insurance health or age requirements.
Colorado Long-Term Care Partnership Program
The Colorado Long-Term Care Partnership began on January 1, 2008. A Partnership policy protects one dollar of savings for every dollar it pays in benefits. Suppose your policy pays $250,000 before it runs out. You could keep $250,000 in assets, plus the $2,000 any single applicant may hold, and still qualify for Health First Colorado. Income and the other eligibility rules still apply.
To earn Partnership status, a policy needs inflation protection that fits your age at purchase. Under 61, it must compound annually. From 61 through 75, simple inflation protection is enough. At 76 and older, it is optional. A future purchase option does not qualify at any age.
The protection continues after death. Colorado can recover long-term care costs from the estate of anyone who received them at 55 or older. Medicaid disregards the same protected amount in the estate, so it can pass to your heirs.
One caution applies if you move. A state without a Partnership program, or one that does not recognize your policy, may not honor the protection.
Learn how Long-Term Care Partnership programs work nationwide ➜
Long-Term Care Insurance Companies in Colorado
Colorado residents have access to long-term care insurance from a wide range of trusted, financially strong carriers. We work with multiple top-rated LTC insurance providers to help you find a plan that fits your age, health, and budget, whether you’re looking for a traditional policy or a hybrid life + LTC option.
Below is a list of long-term care insurance companies available in Colorado:
USAA member? Explore USAA long-term care coverage ➜
AARP member? Review AARP long-term care insurance ➜
- Bankers Life & Casualty
- Brighthouse Financial
- Global Atlantic
- LifeSecure
- Lincoln Financial (MoneyGuard)
- Mutual of Omaha
- National Guardian Life (NGL)
- Nationwide Life Insurance Company
- New York Life
- Northwestern Mutual
- OneAmerica
- Securian Financial
- State Farm
- Thrivent Financial
These companies offer a mix of traditional and asset-based (hybrid) long-term care insurance policies. Availability and pricing vary based on your age, health history, and the type of coverage you need.
Read reviews and ratings of long-term care insurance companies ➜
Cost of Long-Term Care Insurance in Colorado
Traditional long-term care insurance costs in Colorado range from $1,500 to $5,000+ annually, depending on your age, health, and coverage choices. Most people pay between $2,000 and $3,000 per year for comprehensive coverage. Several factors influence your premium:
- Age at purchase: Buying at 55 vs 65 can save thousands over time
- Current health status: Better health means lower rates
- Daily or monthly benefit amount: Typically $100 to $300 per day
- Total coverage limit: Usually $100,000 to $500,000+
- Elimination period: 30, 60, or 90-day waiting period before benefits start
- Inflation protection: Protects against rising care costs
Colorado Long-Term Care Insurance Quotes
Our licensed Colorado professionals offer objective guidance on a wide range of long-term care insurance products and strategies. You’ll receive personalized service including:
✔ Finding the right coverage that fits your budget and protection needs
✔ Getting matched with Colorado’s top-rated carriers based on your specific situation
✔ Helping you secure coverage even with pre-existing health conditions
Ready to compare quotes?
Compare Quotes Now
ACACIA Insurance Reviews
What Our Clients Are Saying
FAQs About Long-Term Care Insurance in Colorado
Most Colorado buyers pay $2,000 to $3,000 a year for traditional coverage. That works out to about $167 to $250 a month. The full range runs $1,500 to $5,000 a year, or $125 to $417 a month. Age, health, benefit amount, waiting period and inflation option all shape the price.
A private nursing home room averages $10,115 a month statewide in 2026. Assisted living runs $5,896. A home health aide costs $8,036 at 44 hours a week. These figures come from the Nationwide Financial 2026 Cost of Care Survey. Over a year, they total $121,375, $70,748 and $96,430.
Yes, for some households. Colorado allows a state income tax credit of 25% of the premiums you pay, up to $150 per policy. It depends on federal taxable income. A single filer qualifies at $50,000 or less. A couple filing jointly qualifies at $50,000 or less for one policy, or $100,000 or less for two. You must be a Colorado resident when you pay the premiums.
The Colorado Springs region covers El Paso and Teller counties. A private nursing home room there averages $120,308 a year, or $10,026 a month, close to the state average. Assisted living and home care cost less here than anywhere else in Colorado. Assisted living runs $63,336 a year, and a home health aide averages $83,204. Nursing home costs climb about 5% a year here, against 4% statewide.
The Denver-Aurora region covers ten counties: Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park. A private nursing home room averages $128,767 a year, or $10,731 a month. That is $7,392 above the state average. Assisted living runs $80,852 against $70,748 statewide, second only to Boulder. A home health aide averages $100,232.
Last updated: September 29, 2026
Written by: Craig Matesky, President, ACACIA Insurance
Reviewed by: Mike Berger, National Sales Manager
Sources: