Oklahoma 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.

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We Compare Top-Rated LTC Insurance Companies

Long-Term Care in Oklahoma

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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 2025, the average cost for 3 years of long-term care in Oklahoma is $217,302 ($72,434/year). That cost is projected to be $432,387 ($144,129/year) in 2045.3

Oklahoma Long-Term Care Costs

2025 LTC Rates in Oklahoma

Region Nursing Home (private room) Assisted Living (private room) Home Care (44 hours/week)
Oklahoma State Average $72,434 $56,350 $66,752
Enid $75,384 $56,955 $63,023
Fort Smith Metro Area $75,876 $44,919 $57,940
Lawton $60,016 $55,266 $59,677
Oklahoma City $79,538 $53,905 $64,012
Tulsa $73,694 $62,498 $66,753
Source: Nationwide Financial annual cost of care survey conducted by HVS, site accessed 4/30/2025

Long-Term Care and Medicare

Medicare External link icon. 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. Learn more about Medicare and custodial care.

 

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.

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Types of LTC Insurance Policies in Oklahoma

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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 for qualified long-term care policies.
  • Long-Term Care Insurance Details >
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Hybrid Life Insurance with Long-Term Care

  • 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.)
  • Life Insurance with Long-Term Care Rider >
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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.
  • Hybrid LTC Annuity Details >
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Short-Term Care Insurance

  • Design: Provides coverage for care in a nursing home, assisted living, or at home for a short duration, typically up to 12 months.
  • Benefits: Helps cover costs for temporary care needs, including recovery from surgery, illness, or injury. Most policies have a 0-day deductible with benefit being paid out as soon as you qualify. This can bridge gaps before long-term care insurance or Medicare kicks for services like a home health aide.
  • Premiums: Generally lower than long-term care insurance due to the shorter benefit period, making it an affordable option for many.
  • Underwriting: Often features simplified underwriting with fewer health questions, making it easier to qualify. This can be very helpful for those who may not meet long-term care insurance health or age requirements.
  • Tax Advantages: Premiums may be tax-deductible if the policy qualifies as tax-qualified under federal guidelines.
  • Short-Term Care Insurance Details >

Oklahoma Long-Term Care Partnership Program

What Is The Oklahoma Long-Term Care Partnership Program?

The Oklahoma Long-Term Care Partnership Program is a collaboration between the State of Oklahoma and private insurance companies. It is designed to help Oklahomans pay for their long-term care needs while protecting their assets. This program offers a unique benefit that standard long-term care insurance policies don’t provide: Medicaid asset protection External link icon..

How the Oklahoma Partnership Program Protects Your Assets

Unlike traditional long-term care insurance, Partnership-qualified External link icon. (PDF) long-term care policies offer dollar-for-dollar asset protection if you eventually need to apply for Oklahoma Medicaid (SoonerCare). Here’s how this valuable benefit works:

  • For every dollar your Partnership policy pays out in benefits, you can keep an equal amount of assets that would normally need to be spent down to qualify for Medicaid
  • These protected assets remain yours even after you qualify for Medicaid assistance
  • The asset protection continues even after death, as these protected assets are exempt from Oklahoma’s Medicaid estate recovery process

Real-World Example: An Oklahoma resident purchases a Partnership-qualified policy with a $350,000 benefit pool. After using all these benefits for home care and nursing facility costs, they still need additional care. With a Partnership policy, they can apply for Oklahoma Medicaid while keeping $350,000 in savings, investments, or other assets that would otherwise need to be spent down to the typical $2,000 Medicaid eligibility limit.

Partnership Mandatory Inflation Protection

To qualify as a Partnership policy in Oklahoma, your insurance must include inflation protection that varies by your age at purchase:

  • Age 60 or younger: automatic compound inflation protection (min 3%)
  • Ages 61–75: either compound or simple inflation protection
  • Age 76 or older: inflation protection is optional

Note: Some inflation options like the Guaranteed Purchase Option (GPO) may not satisfy Partnership requirements for younger applicants.

Oklahoma long-term care partnership.

Is an Oklahoma Partnership Policy Right for You?

When considering long-term care coverage in Oklahoma, you might compare::

  1. Traditional long-term care insurance policies
    • Standard benefits without Medicaid asset protection
    • No mandatory inflation protection
  2. Oklahoma Partnership-qualified plans
    • Similar premiums to traditional policies
    • Added Medicaid asset protection
    • Required inflation protection
  3. Hybrid long-term care insurance products
    • Combines life insurance or an annuity with LTC benefits
    • Not available under the Partnership program
    • May be easier to qualify for with certain health conditions

The best choice depends on your specific situation, including your age, health status, retirement plans, and whether you intend to remain in Oklahoma long-term. Our Oklahoma long-term care specialists can provide personalized guidance based on your circumstances.

 

Long-Term Care Insurance Companies in Oklahoma

We represent several long-term care insurance providers in Oklahoma. 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.

Average Cost of LTC Insurance in Oklahoma

Your Oklahoma 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)

Oklahoma Long-Term Care Quotes

Our Long-Term Care Specialists in Oklahoma City offer objective guidance on a wide range of LTC insurance products and strategies. Expect personalized service on topics such as:

   Choosing from a variety of long-term care insurance products

   Suggestions for the company best suited to your situation and goals

   Assistance with health qualifying for coverage

Ready to start a conversation?

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Oklahoma Long-Term Care Insurance FAQs

What does long-term care insurance cover in Oklahoma?

Long-term care insurance in Oklahoma typically covers a wide range of care services when you can’t independently perform at least two activities of daily living (bathing, dressing, eating, transferring, toileting, continence) or have cognitive impairment. Most policies cover multiple care settings including:

  • Home health care ($66,752 average annual cost for 44 hours per week of care)
  • Assisted living: ($56,350 average annual cost for private room)
  • Nursing home care: ($72,434 average annual cost for private room)

Many Oklahoma LTC insurance policies also cover care coordination services, home modifications (grab bars, wheelchair ramps), medical equipment, and caregiver training.

Review policy details carefully, as certain services like non-licensed companion care, assisted living facilities without proper licensing, or care provided by family members may have limited or no coverage under some Oklahoma policies. About LTC Insurance >

How much does long-term care insurance cost in Oklahoma?

Long-term care insurance costs in Oklahoma typically range from $1,500 to $5,500 annually, depending on several key factors. Your age when purchasing is the most significant factor. Premiums can be 2-3 times higher when buying at age 65 versus age 55.

Health status greatly impacts eligibility and rates, with some medical conditions potentially disqualifying applicants or resulting in higher premiums. Coverage options also affect cost: higher daily benefits, longer benefit periods, shorter elimination periods, and inflation protection all increase premiums.

Oklahoma Partnership policies may cost slightly more than traditional policies due to mandatory inflation protection requirements but provide valuable Medicaid asset protection. Couples often qualify for discounts of 10-30% when both purchase policies.

Rather than relying on general estimates, the best approach is to get personalized quotes from long-term care specialist who represents multiple top rated companies and plans.

What disqualifies me from buying long-term care insurance in Oklahoma?

Several factors may disqualify you from purchasing long-term care insurance in Oklahoma, though standards vary significantly between insurance companies. Medical disqualifiers typically include diagnosed neurological conditions (Alzheimer’s, Parkinson’s, multiple sclerosis), recent cancer treatments, stroke within the past 1-2 years, and current need for assistance with activities of daily living (bathing, dressing, transferring). Age can also be a barrier, with many Oklahoma insurers setting maximum application ages between 75-85.

If traditional policies aren’t available to you, there are alternatives with simplified health criteria. These include: short-term care insurance, life insurance with long-term care riders, and long-term care annuities. Working with a long-term care insurance professional who represents multiple companies can significantly improve your chances of finding appropriate coverage. Find Out If You Qualify >

Are there tax benefits for long-term care insurance in Oklahoma?

Oklahoma residents can access both federal and state tax benefits for qualified long-term care insurance policies. On the federal level, premiums may be deductible as medical expenses if you itemize deductions and your total medical expenses exceed 7.5% of your adjusted gross income. The deductible amount is age-based, with higher limits for older taxpayers ($480-$6,050 annually in 2025, depending on age).

Additionally, Oklahoma offers a state income tax credit of up to $200 per policy ($400 for joint filers with two policies) for qualified long-term care insurance premiums, providing a direct reduction in state tax liability. Benefits paid from tax-qualified policies are generally received tax-free as well.

These tax advantages vary significantly based on your personal financial situation. Higher-income Oklahomans in top tax brackets typically receive greater federal deduction value, while the state credit provides proportionally more benefit to moderate-income residents. Self-employed individuals and business owners may qualify for additional deduction opportunities.

For optimal tax planning, consult with an Oklahoma tax professional who can evaluate your specific circumstances, as tax laws regularly change and benefits depend on your complete financial picture. LTC Insurance Tax Deductions >

How does Oklahoma Medicaid (SoonerCare) cover long-term care and who qualifies?

Oklahoma Medicaid (SoonerCare) covers long-term care services for eligible low-income residents, but with strict financial requirements. To qualify in 2025, individual applicants generally must have less than $2,000 in countable assets, though certain assets like your primary home (with equity up to $688,000), personal belongings, and one vehicle are exempt.

Monthly income limits are approximately $2,829 for individuals. For married couples with one spouse needing care, the healthy spouse can retain more assets (up to $148,620) and additional monthly income. Oklahoma uses a five-year “look-back” period to review asset transfers, potentially imposing penalties for gifts or below-market-value transfers. While SoonerCare covers nursing home care, home and community-based services are available through waiver programs with limited enrollment.

Partnership long-term care insurance offers a middle-ground approach, allowing Oklahomans to protect more assets if they eventually need Medicaid assistance after exhausting their insurance benefits. See SoonerCare Eligibility > External link icon.

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About the Author: Craig Matesky
Reviewed by: Mike Berger

1. “How Much Care Will You Need?” LongTermCare.gov, U.S. Department of Health and Human Services, site accessed 4/30/2025
2. “How Much Care Will You Need?” LongTermCare.gov
3. Nationwide Financial annual cost of care survey conducted by HVS, site accessed 4/30/2025
4. “Who Will Provide Your Care?” LongTermCare.gov
5. Family Caregiver Alliance Caregiver.org, site accessed 4/30/2025
Please note: Coverages and other features vary between insurers, vary by state, and are not available in all states.