Dallas Long Term Care Insurance Costs, Companies & Quotes
Long Term Care Planning in Dallas, TX
The populous Dallas, Texas area puts strong demand on the long term care system. The latest census numbers state approximately 1.2 million people live in Dallas. This makes Dallas, Texas the ninth largest city in the U.S. and the third largest in the State of Texas.
Almost 18% of Dallas households have one or more people who is 65 years of age or older. Between 2010 and 2030 the number of Americans will continue to grow as the “baby boomer” generation matures to age 65.
Click To Get Texas Long Term Care Insurance Quotes. We’ll give you quotes and comparisons for the leading LTC insurance providers in Texas.
Who Needs 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 Dallas, the average cost for 3 years of long term care is $240,900 at 2020 rates ($80,300 per year). That cost is projected to be $435,093 by 2040 ($145,031 per year).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
Dallas Long Term Care Costs
Don’t make the mistake of planning on Medicare to pay for your long term care. Because, Medicare does not pay for nursing facility or home health care. Medicare only pays to help short-term recovery after a hospitalization. The person must also be under a doctor’s supervision to get Medicare reimbursement.
This Dallas, Texas long term care cost data can help you determine how much insurance you need. Plus it compares nursing facility, assisted living and home care costs. Following is the 2020 cost of long term care in Dallas.2
Texas Long Term Care Insurance Companies
Texas Long Term Care Insurance is available from some well respected insurance companies. Our licensed insurance agents specialize in long term care planning and represent multiple companies. They represent Texas Long Term Care Partnership policies and regular LTC insurance policies. Here is a list of long term care insurance companies in Texas:
Get Texas Long Term Care Insurance Quotes!
We’ve specialized in Long Term Care planning solutions since 1990 and can help with your long term care planning. We’ll give you professional, unbiased advice to help you choose the best long term care insurance company in Dallas, TX. We shop all the major long term care insurance companies in Texas and give you:
- Price comparisons customized for your specific needs from top carriers such as Lincoln Financial, Mutual of Omaha, Nationwide, Seurian Financial and more.
- Benefit comparisons of each company’s policy. This side-by-side comparison will cover both the similarities and differences of each plan.
- Financial stability reviews of each long term care insurance company’s financial ratings, size and claims paying experience.
1. 2020 U.S. Department of Health and Human Services (www.longtermcare.acl.gov), site accessed 01/15/2021
2. Cost of Care Survey 2020 (Genworth.com), site accessed 01/15/2021
3. Family Caregiver Alliance (www.caregiver.org), site accessed 01/15/2021