Get Information About Long Term Care Insurance In Your State

Long Term Care Cost Data by State

Long term care costs in your state are important to your LTC planning decisions. Knowing your local and regional care costs can help you decide if this is a risk you want to pay for out of pocket, or if it makes sense to transfer the risk to an insurance company.

In 2022, the national median cost of long term care is $108,405 annually. Multiplied by the three year average length of care, this equates to $325,215.
By 2032 that same three years of care is projected to cost $437,061 and grow to $587,373 by 2042.

Long Term Care Insurance offerings vary by state. Click on your state to get details on long term care costs, insurance companies and partnership policies.

Long Term Care Partnership Policies

Partnership long term care insurance provides special asset protection to individuals who have purchased a LTCi Partnership policy. If they exhaust their insurance benefits, they can protect some or even all their assets from Medicaid spend down if they need more care. Go to your state in the listing above to get details on the long term care insurance Partnership policies offered in your state. This includes which long term care insurance companies offer Partnership policies and whether your state has reciprocity with other states.

Long Term Care Hybrid Products

Long term care hybrid products include the following types of insurance policies:

• Life Insurance with a Long Term Care Rider
• Long Term Care Annuity

This newer class of LTC protection has gained strong growth in market share in recent years. As the names suggest, one is life insurance with a long term care rider and the other an annuity with long term care rider. Go to the corresponding pages above to learn more about long term care hybrid products and 1035 exchange rules for life insurance and annuities.