Who are the consumers of long-term care?
Matthew Underwood
Published Jan 17, 2026
Individuals age 65 and over, defined as older adults, who need human assistance or standby help with one or more ADLs or IADLs need long-term care assistance. Older adults are more likely to receive long-term care assistance in the community than in nursing homes.
What is the largest payer of long-term care in the United States?
Medicaid
Medicaid is the largest single payer of LTSS in the United States; in 2016, total Medicaid LTSS spending (combined federal and state) was $154.4 billion, which comprised 42.2% of all LTSS expenditures.
How much is long-term care insurance for a 55 year old?
A 55-year-old man in the United States can expect to pay a long-term care insurance premium of $1,700 per year on average, according to a 2020 price index survey of leading insurers conducted by the American Association for Long-Term Care Insurance (AALTCI).
Who are the largest long term care insurance companies?
Genworth, once the largest seller of long-term care insurance policies, has announced that it has stopped selling individual stand-alone coverage, as well as immediate annuities, through brokers and agents. Company officials say the decision is temporary,…
What kind of insurance do you need for long term care?
Long-term care (LTC) insurance is a policy that can help cover the expenses associated with long-term care, such as stays in nursing home facilities or home health care provided by a professional. The costs of long-term care can add up.
Which is cheaper long term care or life insurance?
A cheaper alternative for people intent on steering money to their heirs is buying traditional long-term care insurance and a separate life insurance policy, he says. Susan Elser, an Indianapolis financial planner, does a stress test for long-term care costs every time she prepares a plan for a client.
Can a middle income household afford long term care insurance?
Middle-income households with limited assets may be able to afford only partial coverage for their long-term care needs. But consumers often are attracted to a feature not available with traditional long-term care insurance: You receive benefits even if you have no long-term care needs.
