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 numerous highly rated insurance companies and plan types.
We work with your best interests in mind, helping Colorado residents navigate policy features and benefits to provide you with the top choices for your situation.
Request Free Colorado Quotes >TABLE OF CONTENTS
- Do I Need LTC Insurance in Colorado?
- Types of LTC Insurance Policies in Colorado
- Colorado Partnership for Long-Term Care
- Long-Term Care Insurance Companies in Colorado
- Colorado Long-Term Care Insurance Rates
- 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 become more meaningful when you see 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
Colorado Long-Term Care Costs – 2024 (annual) | |||
| Region | Nursing Home (private room) | Assisted Living (private room) | Home Care (44 hours/week) |
| Colorado Average | $125,195 | $60,870 | $86,944 |
| Boulder | $143,080 | $55,200 | $102,960 |
| Colorado Springs | $125,925 | $60,870 | $68,640 |
| Denver Area | $125,195 | $60,000 | $93,808 |
| Fort Collins | $141,620 | $65,190 | $68,916 |
| Grand Junction | $128,727 | $55,500 | $86,944 |
| Greeley | $129,575 | $62,040 | $82,368 |
| Pueblo | $119,408 | $62,490 | $78,936 |
Source: Annual cost of care survey conducted by CareScout®, site accessed 03/14/2024
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, especially with the state’s 25% tax credit benefit. 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 usually healthier. 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. Additionally, health problems may develop by then, 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.
Check Eligibility Now >Colorado Long-Term Care Insurance Options
These are the types of long-term care insurance plans available in Colorado.
Traditional LTC Insurance—Colorado Long-Term Care Partnership
- The most comprehensive long-term care protection for your dollar
- About half of all long-term care policies purchased
- The broadest set of options
- Recurring premiums
- Learn more about Traditional LTC >
Hybrid Life Insurance with Long-Term Care
- A permanent life insurance policy that can be used during your lifetime if you need long-term care
- If care is not needed, your asset passes to your estate as a tax-free death benefit
- May build cash value and have a return of premium option
- Premiums will NOT increase and 1035 exchanges possible
- Can be funded with qualified dollars (IRA, 401k, etc.)
- Learn more about Hybrid Life with LTC >
Hybrid Annuity with Long-Term Care
- A deferred annuity contract with a fixed interest rate and possible indexing for asset growth plus long-term care benefits
- If not exhausted paying for long-term care, the annuity will transfer to your estate
- Long-term care benefits are typically double or triple the value of the annuity
- Premiums will NOT increase and 1035 exchanges are possible
- Can be funded with qualified dollars (IRA, 401k, etc.)
- Learn more about Hybrid Annuities with LTC >
Short-Term Care Insurance
- Coverage for a year or less with the option of home health care only, facility only, or both combined
- Lower premiums than long-term care insurance and some policies available to age 89
- Simplified underwriting may be a good fit if you’ve been declined for LTC insurance
- No deductible option means benefits would be paid out as soon as you qualify
- Learn more about Short-Term Care Insurance >
Colorado Long-Term Care Partnership
Colorado residents can access Partnership Long-Term Care Insurance for enhanced asset protection. Explore eligibility, benefits, and application process in our 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 long-term care insurance is available from several highly rated insurance companies. We compare these carriers to find you the right plan at the lowest cost. Here is a list of long-term care insurance providers in Colorado:
- 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
How Much Does LTC Insurance Cost in Colorado?
Your Colorado long-term care insurance rates will depend on your age, health history, plan design and type of coverage selected. The following choices let you choose how much protection is right for your situation:
- Benefit Period
- Daily Benefit
- Elimination Period (a deductible in days)
- Inflation Protection (if chosen)
Ready to get pricing and suggestions?
Compare your options >
Compare Colorado Long-Term Care Insurance Options
Our Colorado LTC specialists offer objective guidance on a wide range of long-term care insurance products and strategies. Expect personalized service on topics such as:
✔ Choosing from a variety of long-term care insurance products
✔ Suggestions for the carrier best suited to your situation and goals
✔ Assistance with health qualifying for coverage
Ready to start a conversation?
Get started now >
What Our Customers Say
About the Author: Craig Matesky
Reviewed by: Mike Berger