Orange County Long Term Care Insurance – Costs and Companies
Long Term Care Planning in Orange County, CA
Located in the City of Newport Beach, our firm has specialized in long term care (LTC) planning since 1990. Our long term care insurance specialists represent all major insurance carriers. Affordable solutions are available for both individual and corporate clients.
Besides traditional LTC insurance, there are innovative hybrid solutions that incorporate LTC protection with life insurance or annuities. Our experience and product knowledge will help you make the best long term care insurance decisions. And we also offer a full line of life insurance products for estate planning purposes.
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What is The Risk of Needing of Long Term Care?
Someone turning age 65 today has about a 70 percent chance of needing some type of long term care during their lifetime. While one-third may never need long term care, 20 percent will need it for longer than 5 years. The average length of time people need long term care services is 3 years.1.
In Orange County, the average cost for 3 years of long term care is $405,699 ($135,233 per year) at 2021 rates. That cost is projected to be $732,738 ($244,246 per year) in 2041.2.
And it’s not only seniors that need long term care. Over 35 percent of people currently receiving long term care services are between 18 and 64.3.
Long Term Care Costs in Orange County, California
Orange County long term care costs are among the highest in the country. Thus having high quality long term care insurance in Orange County CA is a smart financial planning decision.
Knowing the cost of long term care facilities and home health care in Orange County is an important factor of long term care planning. Because, the cost of long term care indicates how much long term care insurance protection you need. Having adequate funds available for care insures you will get quality care in the setting of your choice.
One of the most comprehensive studies on the cost of long term care is conducted by Genworth Financial. The Genworth Financial 2021 Cost of Care Survey covers national long term care costs and over 15,000 long term care providers.
Orange County Long Term Care Costs – 2021 (Annual)
Nursing Home (Private Room): $135,233
Nursing Home (Semi-Private Room): $109,500
Assisted Living (Private Room): $63,000
Home Health Aide (44 Hours/Week): $70,928
Get LTC Insurance Quotes & Comparisons
Get professional, unbiased information to decide if LTC insurance is right for you. If you choose to get protection, we can help you select the best company and plan design for your needs. We shop all the major long term care insurance companies offering coverage in California and give you:
- Price comparisons customized for your specific needs from major insurance carriers like Aetna, John Hancock, Mutual of Omaha, Nationwide Insurance, OneAmerica and more.
- Benefit comparisons of each company’s policy. This side-by-side comparison covers both the similarities and differences of each plan.
- Financial stability reviews of each long term care insurance company’s ratings, asset base and claims paying experience.
ACACIA Insurance Services
Life & Long Term Care Specialists
4667 MacArthur Blvd Suite 260
Newport Beach, California 92660
We have experienced long term care insurance agents available throughout Orange County, California.
1. 2022 U.S. Department of Health and Human Services (www.longtermcare.acl.gov), site accessed 02/18/2022
2. Cost of Care Survey 2021 (Genworth.com), site accessed 02/18/2022
3. Family Caregiver Alliance (www.caregiver.org), site accessed 02/18/2022