Long-Term Care Insurance Colorado: Costs & Companies Reviewed
Is This Coverage Right For You?
For over 30 years, ACACIA Insurance has specialized in long-term care planning. We are independent Colorado advisors representing multiple top-rated insurance companies and a range of plan types.
We put your best interests first, helping you compare features and benefits to find the best policy for your needs.
Request Free Colorado Quotes >TABLE OF CONTENTS
- Do I Need Long-Term Care Insurance in Colorado?
- Types of Long-Term Care Insurance in Colorado
- Colorado Long-Term Care Partnership Program
- Colorado Long-Term Care Insurance Credit
- Long-Term Care Insurance Colorado Providers
- Long-Term Care Insurance Colorado Cost
- Colorado Long-Term Care Insurance Quotes
- FAQs about Colorado Long-Term Care Insurance
Estimated reading time: 8 minutes
We Compare Top-Rated LTC Insurance Companies
Do I Need Long-Term Care Insurance in Colorado?
Most Colorado residents underestimate their long-term care risk. Here are the key statistics that help determine if long-term care insurance makes sense for your situation:
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
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
In 2025, the average for 3 years of long-term care expenses in Colorado is $357,969, or about $119,323 per year. By 2045, that figure is projected to rise to $784,356, or $261,452 per year.3
These national statistics are more meaningful when compared to actual costs in your area. Colorado’s long-term care expenses vary significantly by region, making it important to understand what you might face locally.
Understanding Long-Term Care Costs in Colorado
2025 Annual Costs by Region | |||
| Region | Nursing Home (private room) | Assisted Living (private room) | Home Care (44 hours/week) |
| Colorado Average | $119,323 | $64,704 | $87,921 |
| Boulder | $158,465 | $73,628 | $93,768 |
| Colorado Springs | $121,835 | $66,313 | $73,842 |
| Denver Area | $129,525 | $71,111 | $91,631 |
| Fort Collins/Loveland | $124,807 | $63,981 | $73,050 |
| Grand Junction | $125,509 | $54,888 | $85,141 |
| Greeley | $138,086 | $60,875 | $82,185 |
| Pueblo | $115,079 | $67,753 | $78,427 |
Source: Rates from the 2025 Nationwide Financial cost of care survey conducted by HVS, site accessed 07/01/2025
About Medicare and Long-Term Care
Medicare 
provides very limited long-term care coverage, primarily up to 100 days of skilled nursing care following a 3-day hospital stay. It does not cover custodial care (help with daily activities), which represents over 90% of long-term care needs. This limited coverage is why many Colorado residents consider long-term care insurance. Get complete details about Medicare’s limited LTC coverage.
When To Buy Long-Term Care Insurance
When is the best age to get long-term care insurance? It depends on your situation, but here are some key factors to consider:
- Experts suggest buying in your 50s or early 60s. Because long-term care insurance premiums cost less at that age and you’re likely in better health. While you would pay premiums for more years, the total lifetime cost may still be lower.
- Buying earlier, like in your 40s, can work too. Premiums are likely to be even lower and you’d lock in coverage and your good health. But you’d pay for a longer period before needing it.
- Waiting until your late 60s might make sense if you’re healthy and have sufficient savings. But premiums are much higher, and health issues may arise that make coverage harder to qualify for. And discounts may no longer be available. If you become ill before purchasing coverage, you would be responsible for all long-term care costs.
One of our licensed Colorado long-term care professionals can pre-qualify any health concerns and provide you with quote comparisons.
Find Out If You Qualify >Types of Long-Term Care Insurance in Colorado
Colorado residents have several long-term care insurance options to protect against the high costs of care. Understanding each type helps you choose the best coverage for your situation and budget.
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 follows federal tax treatment, and 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 2-4% 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 2-3 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 Colorado and federal tax regulations.
Short-Term Care Insurance
What It Is: 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
Colorado residents can access Partnership Long-Term Care Insurance for enhanced asset protection. Explore eligibility, benefits, and the application process in our guide: Partnership Long-Term Care Insurance – Complete Guide.
Colorado Long-Term Care Insurance Credit
A long-term care insurance credit is available to Colorado residents who purchase or make payments for a long-term care insurance policy and whose federal taxable income does not exceed applicable thresholds. The amount of the LTC insurance credit 
is generally equal to 25% of the amount paid for the policy during the tax year, but cannot exceed $150 per policy.
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:
AARP member? Learn about AARP long-term care insurance options >
- 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.
How Much Does LTC Insurance Cost in Colorado?
Colorado long-term care insurance costs range from $1,500 to $5,000+ annually, depending on your age, health, and coverage choices. Most people pay between $2,000 – $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
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What Our Customers Say
FAQs About Long-Term Care Insurance in Colorado
Long-term care insurance in Colorado covers expenses for extended care services, like nursing homes, assisted living, or in-home care, helping individuals maintain independence and financial security.
Colorado residents typically qualify for long-term care insurance if they are in good health and meet insurer criteria, often requiring an application process to assess medical history and needs. Hybrid LTC insurance plans may be easier to qualify for than traditional plans.
Costs for long-term care insurance in Colorado vary based on age, health, and coverage options, typically ranging from $1,500 to $5,000 annually, with customizable plans to fit budgets.
Long-term care insurance in Colorado covers services like nursing home care, assisted living, in-home care, adult daycare, and respite care, tailored to policyholders’ specific needs and preferences.
Purchasing long-term care insurance in Colorado is best in your 50s or early 60s, as premiums are lower and health qualifications are easier to meet before age-related issues arise.
AUTHOR
Craig Matesky, ACACIA Insurance President
Reviewed by Mike Berger, National Sales Manager
, U.S. Department of Health and Human Services, site accessed 7/1/2025
conducted by HVS, site accessed 7/1/2025 
, site accessed 7/1/2025