Long-term Care
Medicare does not cover long term care
Traditional health insurance and Medicare often fail to cover long-term care (LTC), leaving families vulnerable to financial depletion. This guide highlights how you can choose between Stand-alone, Hybrid, and Annuity-based solutions to secure your future.
THE FACTS
Nearly 70%
of people turning age 65 will need some form of long-term care in their lifetime.
- U.S. Department of Health & Human Services
Over $100,000
Annual cost of a private room in a nursing home.
- Genworth 20224 Cost of Care Survey
Medicare
covers little to none of the costs associated with long-term care
Care is Often
needed for 3+ years, with 20% of people needing care for 5+ years.
- AARP
Why LTC Planning Matters
Financial Protection
Standard health insurance and Medicare have significant limitations in covering long-term care services
Asset Preservation
Proper planning prevents the rapid depletion of savings and eliminates "Medicaid spend-down" requirements
Care on your Terms
Policies allow you to receive care where you prefer - at home, in assisted living, or in a nursing facility
Comparing your 3 coverage options
Stand-Alone
(Traditional) LTC
Primary Benefit
Dedicated LTC Coverage
Key Advantage
Customizable benefit periods and inflation protection options.
Hybrid
(Life-Based) LTC
Primary Benefit
LTC + Death Benefit
Key Advantage
Provides a payout to heirs if long-term care is never utilized
Annuity-Based
LTC
Primary Benefit
Tax-Efficient Growth
Key Advantage
Allows tax-free transfers of existing annuity gains to pay for care
Medicare Does Not Cover Most Long-Term Care Expenses
Many people are surprised to learn that Medicare generally does not pay for extended long-term custodial care. As healthcare costs continue to rise and people live longer, planning for long-term care has become an important part of protecting retirement assets, preserving independence, and reducing financial stress on loved ones.
Long-term care refers to assistance with everyday activities such as bathing, dressing, mobility, medication management, memory care, and other ongoing support needs due to aging, illness, or chronic health conditions.
Why Long-Term Care Planning Matters
Nearly 70% of adults age 65 and older are expected to need some form of long-term care during their lifetime. The cost of care can exceed $100,000 annually depending on the level and location of care needed.
Without a plan, many families are forced to rely on personal savings, retirement accounts, or family caregivers to help manage these expenses.
Proper planning can help:
- Protect retirement income and savings
• Preserve assets and legacy goals
• Provide more flexibility and choice in care options
• Reduce financial and emotional burdens on family members
• Create greater confidence and stability for the future
Understanding Your Long-Term Care Options
Today’s long-term care planning strategies offer more flexibility than ever before. Depending on your goals and financial situation, options may include:
Traditional Long-Term Care Insurance
Designed specifically to help cover long-term care expenses with customizable benefits and inflation protection options.
Hybrid Life Insurance + LTC Solutions
Combines long-term care protection with a life insurance benefit, helping ensure value is preserved even if care is never needed.
Asset-Based & Annuity-Based Strategies
Allows certain existing assets to be repositioned into solutions that may provide tax-advantaged long-term care benefits.
Planning Earlier Creates More Options
One of the biggest advantages of long-term care planning is flexibility. Starting earlier may help improve eligibility, reduce costs, and provide access to a wider range of planning strategies.
The right solution depends on your age, health, retirement goals, existing assets, and family priorities.
Schedule a Complimentary Long-Term Care Review
A personalized review can help you better understand your options and determine which strategies may fit your financial goals and long-term plans.
Planning today can help protect your independence, your assets, and the people you care about most.