Long-Term Care Insurance Georgia Costs & Options

Find a long-term care plan that’s right for you with our highly rated companies, multiple plan options, and expert advisors.
  • Traditional Long-Term Care Insurance
  • Hybrid Life Insurance with LTC
  • Long-Term Care Annuities
 

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Georgia long-term care insurance can play a significant role in your family’s future well-being. By planning ahead you can provide security and peace of mind for years to come by knowing you can:

   Secure quality, affordable care.

   Safeguard your assets for your spouse and other heirs.

   Relieve family members and friends from having to provide care.

 

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Does Medicare Cover Long-Term Care?

No, Medicare does not cover long-term care (custodial care). This type of care makes up more than 90% of all long-term care services. Examples of custodial care is when you need help with walking, bathing, eating, dressing or using the toilet. This type of care is what people need most when they have a physical impairment from a stroke. Or, due to cognitive impairment from dementia or Alzheimer’s disease. Don’t make the mistake of thinking Medicare covers long-term care costs. It doesn’t.

Further, about 80% of care at home is provided by unpaid caregivers. With more than half of this care including intensive caregiving assistance with personal care such as bathing or feeding.4 And it’s not only seniors that need long-term care. Over 35 percent of people currently receiving care are between the ages of 18 and 64.5

How Much Does Long-Term Care Insurance Cost in Georgia?

Georgia long-term care insurance rates depend on several factors. These include your age, health history, plan design, and the type of coverage you choose. And the following features let you customize your coverage for your situation:

  1. Benefit Period: Determine the duration of benefits that suits your needs and budget.
  2. Daily Benefit: Choose the daily benefit amount based on your preferences and the cost of care in your area.
  3. Elimination Period: Similar to a deductible but measured in days, the elimination period lets you customize how soon your coverage begins.
  4. Inflation Protection: If chosen, this option safeguards your coverage against the impact of inflation over time.

Here is how much long-term care insurance costs in Georgia. 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 Georgia
Age 55Age 60Age 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 55Age 60Age 65
Male$139$158$205
Female$232$266$347
Couple$296$339$442

Did You Know?

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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 for 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 2022, the average cost for 3 years of long-term care in Georgia was $273,750 ($91,250 per year). That cost is projected to be $494,424 ($164,808 per year) in 20423

When To Buy Long-Term Care Insurance

Like most advisors, we recommend buying long-term care insurance in your fifties or early sixties for the following reasons:

  • The younger you are when you buy a policy, the lower the annual premiums.
  • Even though you pay premiums a longer period of time, you’ll typically pay less overall than someone buying at an older age.
  • By the time you reach your mid sixties, you’re more likely to have a medical condition that makes you ineligible for a preferred-health discount, or makes it tough to get coverage at all.

So it almost never pays to wait. And, while you’re waiting, you’re uninsured. If an accident or illness happens causing you to need long-term care, you’ll have to pay out of pocket.

What disqualifies you from LTC insurance?

Find out if I qualify >
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Long-Term Care Insurance Georgia Options

Long-term care insurance Georgia options include: Traditional LTC, Hybrid Life LTC, and Hybrid Annuity LTC. Another alternative is Short-Term Care Insurance which is often selected due to age or health limitations.

 

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Traditional Long-Term Care Insurance

  • The most comprehensive long-term care protection for your dollar
  • About half of all long-term care policies purchased and includes the Georgia Long-Term Care Partnership Program
  • The broadest set of options
  • Recurring premiums
  • Learn more about Traditional LTC >
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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
  • Insurance premiums will not increase and 1035 exchanges possible
  • Learn more about Hybrid Life with LTC >
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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
  • Available long-term care benefits are typically double or triple the value of the annuity
  • Insurance premiums will not increase and 1035 exchanges possible
  • Learn more about Hybrid Annuities with LTC >
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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 >

 

Georgia Long-Term Care Partnership

Georgia Long-Term Care Partnership policies are available. Partnership policies combine private long-term care insurance with Medicaid asset protection. Only Partnership policies provide this type of asset protection when you need Nursing Home, Assisted Living or Home Care.

The unique asset protection benefits of a Georgia Long-Term Care Partnership Program policy applies if your long term care needs last longer than the benefits of your Partnership policy.

For every dollar your Partnership policy pays in benefits, a dollar of assets is protected from the long term care Medicaid asset limit. The protected assets are also exempt from Estate Recovery in the same amount as the benefits paid by your Partnership policy.

Georgia Long-Term Care Partnership policy rates are like regular policies. We still recommend comparing them with regular long-term care insurance Georgia policies because there may be alternatives better suited to your needs. This includes hybrid long-term care insurance plans not available under the Georgia Long-Term Care Partnership.

Georgia Long-Term Care Insurance Partnership.

Georgia LTC Partnership Reciprocity

Georgia does participate in the national reciprocity agreement. Reciprocity allows you to buy a qualifying Long-Term Care Partnership policy in another state and maintain the special asset protection benefit if you move to Georgia. The State of Georgia will also recognize accumulated asset protection for Medicaid qualification if you’re already receiving benefits from your LTC Partnership policy before moving to Georgia. The majority of states have Reciprocity, but not all.

Understand Long-Term Care Costs

Average Cost of Long-Term Care in Georgia – 2022 (annual)

RegionNursing Home (private room)Nursing Home (semi-private room)Assisted Living (private room)Home Health Aide (44 hours/wk)
Georgia Median$91,250$84,133$42,420$52,624
Albany$86,523$82,235$36,090$47,133
Athens Area$86,870$83,220$50,202$54,340
Atlanta Area$103,113$90,338$46,140$54,912
Augusta Area$98,550$89,425$43,269$54,340
Brunswick$91,798$84,315$63,600$53,768
Columbus$89,060$81,760$50,670$51,480
Dalton$96,360$90,155$40,797$58,344
Gainesville$73,913$70,263$46,710$61,776
Hinesville$93,075$91,250n/a$45,760
Macon Area$87,965$82,490$34,320$48,048
Rome$91,250$86,688$51,516$54,912
Savannah$94,900$91,250$42,150$57,200
Valdosta$98,003$96,725$38,151$50,336
Warner Robins$87,600$78,475$33,000$49,192
Data from Genworth Cost of Care Survey

Long-Term Care Insurance Companies in Georgia

Below is a list of long-term care insurance companies in Georgia. To help you find the best plan for your situation, at the lowest cost, our Long-Term Care Advisors can provide you with a comparison of multiple highly rated companies.

Compare Long-Term Care Insurance Options

Our specialists offer objective guidance on a wide range of long-term care planning products and strategies. Expect personalized service on topics such as:

   Choosing from a variety of long-term care planning products

   Suggestions for the insurance company best suited to your situation and goals

   Assistance with medical underwriting (qualifying) for insurance coverage

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What Our Customers Say

 


1. “How Much Care Will You Need?” LongTermCare.gov, U.S. Department of Health and Human Services, site accessed 6/26/2023
2. “How Much Care Will You Need?” LongTermCare.gov
3. Cost of Care Survey 2021 Genworth.com, site accessed 6/26/2023
4. “Who Will Provide Your Care?” LongTermCare.gov
5. Family Caregiver Alliance Caregiver.org, site accessed 6/26/2023
Please note: Coverages and other features vary between insurers, vary by state, and are not available in all states.