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Florida Long-Term Care Insurance

Is It Right for You? Understanding the Pros and Cons

For over 30 years, ACACIA Insurance has specialized in long-term care planning. We are independent advisors, representing numerous highly rated insurance companies and plan types.

We work with your best interests in mind, assessing policy features and benefits to provide you with the top choices for your consideration.

 

TABLE OF CONTENTS

 

Multiple Highly Rated Companies

Who Needs Long-Term Care

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Almost 70% of people turning age 65 today will need some type of long-term care in the future. The average length of time people need care is 3 years.1

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One-third of people may never need long-term care, but 20% will need it longer than 5 years. On average women need 3.7 years of care while men need 2.2 years.2

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In 2025, the average cost for 3 years of long-term care in Florida is $373,071 ($124,357/year). The cost is projected to be $741,633 by 2044 ($272,481/year).3

Average Cost of Long-Term Care in Florida

Florida LTC Costs 2025 (annual)
Nursing Home
(private room)		 Assisted Living
(private room)		 Home Care
(44 Hours/week)
Florida Average $124,357 $58,599 $64,417
Click here to see costs by region
Region Nursing Home Assisted Living Facility Home Health Care
Cape Coral / Fort Myers $125,532 $71,346 $70,275
Crestview Area $120,455 $53,091 $49,644
Deltona / Daytona Beach $126,942 $59,205 $72,868
Gainesville $123,792 $69,191 $63,716
Homosassa Springs $131,375 $68,410 $52,370
Jacksonville $130,142 $74,527 $62,269
Lakeland /Winter Haven $118,922 $55,846 $62,360
Miami Area $126,195 $65,831 $60,985
Naples / Marco Island $137,740 $72,112 $71,671
North Port / Sarasota $134,826 $67,892 $74,442
Ocala $120,801 $51,249 $69,489
Orlando / Kissimmee $117,219 $51,251 $71,390
Palm Bay / Melbourne $130,643 $58,104 $59,699
Panama City $131,219 $71,512 $70,207
Pensacola / Ferry Pass $134,004 $51,437 $57,040
Port St. Lucie $117,496 $69,442 $62,977
Punta Gorda $132,055 $49,571 $71,607
Sebastian / Vero Beach $117,348 $63,080 $66,567
Sebring $101,791 $53,055 $63,850
Tallahassee $121,529 $74,665 $60,623
Tampa / St Petersburg $128,432 $53,522 $65,145
Wildwood / The Villages $125,654 $63,764 $65,197
Source: Nationwide Financial annual cost of care survey conducted by HVS, site accessed 4/9/2025

Does Medicare Cover Long-Term Care?

Medicare generally does not cover long-term care. Also known as custodial care, it includes daily help with activities like bathing, dressing, eating, and toileting. This type of care represents most long-term care services. Medicare coverage External link icon. is for short-term, skilled medical care following hospitalization. It includes rehabilitation services in a skilled nursing facility for up to 100 days. It can also pay for some short-term home health care, like a visiting nurse if a doctors says you need it.

Custodial care is often required due to chronic illnesses. It is also needed for cognitive impairments like Alzheimer’s or dementia, or ongoing physical limitations from events like strokes. Importantly, Medicare does not cover custodial care.

Most custodial care provided at home relies on unpaid caregivers External link icon., often family members. More than one-third of individuals receiving long-term care services are under age 65. This underscores that the need for custodial care can impact adults of all ages.5

 

When To Buy Long-Term Care Insurance

Deciding when to buy long-term care insurance requires balancing the pros and cons of early versus delayed buying.

Purchasing in your 50s or early 60s locks in lower premiums, ensures eligibility before health declines, offers peace of mind, and may reduce total premiums paid over time. But, it could mean paying premiums for years without needing care.

Alternatively, waiting avoids paying premiums if care isn’t needed soon, but it risks higher premiums, health-related ineligibility, or paying care costs out of pocket. Key factors to weigh include your current health, financial situation, and comfort with risk.

One of our licensed long-term care professionals can provide quote comparisons with your specific situation and goals in mind.

Get personalized quotes >

Types of Long-Term Care Insurance in Florida

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Traditional Long-Term Care Insurance

  • Design: Specifically designed to cover long-term care expenses, such as in-home care, assisted living, or nursing home care. Provides the most comprehensive long-term care benefits for your dollar.
  • Benefits: The broadest set of options & benefits. Provides a daily or monthly benefit for a set period or the policyholder’s lifetime, depending on the policy terms.
  • Premiums: Recurring premiums paid monthly, quarterly, or annually. Possibility of premium increases over time.
  • Underwriting: Requires medical underwriting, where health status impacts eligibility and premium costs.
  • Tax Advantages: Premiums may be tax-deductible, and benefits are generally tax-free.
  • Learn more about Traditional LTC >
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Life Insurance with Long-Term Care Rider

  • Design: Combines permanent life insurance with a rider allowing access to benefits you can use for long-term healthcare. If care is not needed, your asset passes to your estate as a tax-free death benefit.
  • Benefits: May build cash value and have a Return of Premium option
  • Premiums: Premiums will NOT increase. Cost is higher than standard life insurance due to the added rider, but often more cost-effective than separate policies.
  • Underwriting: Medical underwriting is usually less strict than traditional long-term care insurance.
  • Tax Advantages: 1035 exchanges are possible and can be funded with qualified dollars (IRA, 401k, etc.)
  • Learn more about Hybrid Life with LTC >
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Annuity with Long-Term Care Rider

  • Design: A deferred annuity contract with a rider to cover long-term care expenses. Includes a fixed interest rate and possible indexing for asset growth
  • Benefits: Long-term care benefits are usually double or triple the value of the annuity. If not exhausted paying for long-term healthcare, the annuity will transfer to your estate at time of death.
  • Premiums: No premium increases. Can be purchased using a single premiums payment.
  • Underwriting: Health underwriting is simpler than the other plans available.
  • Tax Advantages: Tax-Free 1035 exchanges are possible from an existing annuity to a long-term care annuity.
  • Learn more about Hybrid Annuities with LTC >

Florida Long-Term Care Partnership Program

The Florida Long-Term Care Partnership Program External link icon. combines private long-term care insurance with Florida Medicaid External link icon., providing financial protection for future long-term care needs. The main benefit of a Partnership policy is asset protection. For every dollar your insurance pays out, you can keep an extra dollar in assets if you later apply for Medicaid.

This program encourages early planning for long-term care expenses, potentially safeguarding significant portions of your savings. Partnership policies generally cost the same as standard long-term care policies but offer the added advantage of asset protection.

However, Partnership policies may not suit everyone. They typically require careful adherence to state-specific guidelines and coverage limits. Additionally, while asset protection is valuable, some individuals prefer hybrid policies which are not offered under the Florida Long-Term Care Partnership Program External link icon.. Hybrid LTC policies are popular alternatives that combine long-term care benefits with life insurance or annuities.

Florida Long-Term Care Partnership Program.

 

Florida LTC Partnership Reciprocity

The State of Florida offers reciprocity for Long-Term Care Partnership policies purchased in other states. This means if you relocate to Florida, your policy’s asset protection features remain intact, ensuring continuity of your benefits and preserving the asset protection you’ve earned, even after moving.

How Much Does LTC Insurance Cost in Florida

The cost of long-term care insurance in Florida depends on several factors. These include your age, health history, plan design, and the type of plan you choose. The following features allow you to customize your coverage for your situation:

  1. Benefit Period: Determine the duration of benefits that fits with your needs and budget.
  2. Daily Benefit: Select a daily benefit amount based on your preferences and the cost of care in your area.
  3. Elimination Period: A deductible but measured in days, the elimination period lets you choose how soon your coverage begins.
  4. Inflation Protection: This option safeguards your coverage against the impact of inflation over time.

Here is a sample of long-term care insurance costs in Florida. These are average monthly costs by purchase age for $144,000 in level benefits, without annual inflation growth. Rates are for preferred health which has the lowest cost.

Average Cost of Long-Term Care Insurance in Florida
Age 55 Age 60 Age 65
Male $77 $93 $139
Female $111 $139 $210
Couple $151 $185 $279

 

For the same applicants purchasing a policy with 3% annual inflation growth protection, the average monthly costs are:

Age 55 Age 60 Age 65
Male $139 $158 $205
Female $232 $266 $347
Couple $296 $339 $442

Long-Term Care Insurance Companies in Florida

There are several long-term care insurance providers in Florida. These companies differ in coverage, financial stability, and premiums, requiring careful comparison.

As independent advisors, we assess all providers to find the best policy for your needs and budget, focusing on premiums, benefits and financial strength.

Compare Florida Long-Term Care Insurance Quotes

Get expert guidance from our Florida long-term care insurance professionals to find the best policy for your needs. We offer:

✔   Clear comparisons of multiple long-term care insurance options

✔   Personalized recommendations tailored to your goals and budget

✔   Assistance navigating health requirements for coverage

Ready to protect your future?

Request quotes >
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FAQs about Long-Term Care Insurance in Florida

What disqualifies me from long-term care insurance in Florida?

In Florida, you may be denied long-term care insurance if you have serious pre-existing medical conditions such as Alzheimer’s, Parkinson’s, dementia or other cognitive impairment. Another reason for denial would be if you currently need assistance to perform daily living activities such as walking, bathing or dressing.

However, those with other significant health conditions may still qualify. It’s best to consult with a professional who knows the underwriting criteria of several long-term care insurance companies.  Find Out If You Qualify >

What is the average cost of long-term care insurance in Florida?

Long-term care insurance rates in Florida depend on your age, health history, type of plan selected, and the insurance company. Here are sample premiums for a 60-year-old man with preferred health:

Policy pays up to $144,000 for home health care, assisted living, or home health care.
Monthly cost for this policy ranges from $93 to $158.

  • $93/month: Level benefits with no inflation protecction.
  • $158/month: Includes 3% annual inflation protection, which means your benefits grow by 3% each year to keep up with rising care costs.  Request Quote Comparisons >
What is the best long-term care insurance in Florida?

The best long-term care insurance in Florida will be a plan that’s best aligned with your specific needs. Here are some key considerations:

  • There are age and health restrictions for buying a long-term care insurance policy, so planning ahead is crucial. Some applicants cannot qualify for insurance at all, while others are limited to which company or type of coverage is available.
  • Some LTC insurance policies are a good fit for older applicants while other types are best for younger people with excellent health.
  • Some plans include guaranteed level premiums, offer limited pay options or even a single pay option.

Related Article: How to choose the best long-term care insurance >

Who sells long-term care insurance in Florida?

Here is a list of long-term care insurance providers in Florida:

  • Bankers Life & Casualty
  • Brighthouse Financial
  • Global Atlantic
  • LifeSecure Insurance Company
  • Lincoln Financial Group (Lincoln MoneyGuard)
  • Mutual of Omaha
  • National Guardian Life (NGL)
  • Nationwide Life Insurance Company
  • New York Life
  • Northwestern Mutual
  • Securian Financial
  • State Farm
  • State Life Insurance Company (OneAmerica)
  • Thrivent Financial

See additional insurance companies we represent > 

What Our Customers Say

 

 

Written by Craig Matesky, ACACIA Insurance President
Edited by Mike Berger, National Sales Manager

SOURCES:

1. “How Much Care Will You Need?” LongTermCare.gov External link icon., U.S. Department of Health and Human Services, site accessed 4/09/2025
2. “How Much Care Will You Need?” LongTermCare.gov
3. Nationwide Financial 2025 cost of care survey External link icon. conducted by HVS, site accessed 4/09/2025 
4. “Who Will Provide Your Care?” LongTermCare.gov
5. Family Caregiver Alliance Caregiver.org External link icon., site accessed 4/09/2025
Note: Coverages and other features vary between insurers, vary by state, and are not available in all states.