Long-Term Care Insurance 2026: Costs, Coverage & Is It Worth It?
Long-Term Care Insurance 2026: Costs, Coverage & Is It Worth It? 70% of Americans over 65 will need long-term care. A nursing home costs $100,000+/year, and Medicare doesn't cover it. Long-term care insurance (LTCI) protects your savings — but it's expensive and complex. This guide explains costs, coverage, and whether it's worth it for you. What Is Long-Term Care Insurance? Insurance that pays for care when you can't perform 2+ activities of daily living (bathing, dressing, eating, toileting, transferring, continence) or have severe cognitive impairment. Covers: nursing home, assisted living, home care, adult day care, hospice. Does NOT cover: medical care (that's health insurance/Medicare). Why Costs Are So High Nursing home (private room): ~$110,000/year. Assisted living: ~$60,000/year. Home health aide: ~$70,000/year. Costs rise 3-5% annually. A 3-year nursing home stay can wipe out $300,000+ in savings. Costs in 2026 (Annual Premiums) Age 55 couple: ...