How likely are you to need long term care?

While the average duration and level of long term care varies dramatically and changes over time, here are some statistics to consider:

• Someone turning 65 today has almost a 70% chance of needing some type of long term care services and support in their remaining years.¹
• 56% of women and 46% of men will need long term care in their lifetimes.²
• Women tend to outlive men by about five years. As a result, women make up more than 70% of nursing home and assisted living community residents.³
• While one-third of today’s 65 year-olds may never need long term care support, 20% will need it for longer than 5 years.¹

What does long term care cost?

Long term care is becoming costlier every year. Costs for nursing homes, assisted living, and in-home care are higher than most people have planned for—and are continuing to rise.

It’s important to keep in mind that the cost of long term care can vary significantly depending on the level of care required. For example, the national average annual cost of home care is $51,480. For a semi-private room in a nursing home, the average more than doubles to $112,420.⁵

Cost is also impacted by state. The cost of a home health aid can cost nearly $100,000 in Vermont or Maine, whereas in Louisiana it may cost closer to the national average of $51,480.⁴

What does it cost to insure for long term care?

The cost of Long Term Care insurance depends on your age and health when you purchase your policy, as well as the features and benefits you select. According to the 2024 LTC Insurance Price Index, the average annual premium for a 55-year-old couple is $2,080. The best way to keep your costs down is to purchase your policy early. Securing LTC insurance at age 55 can be significantly cheaper than obtaining the same coverage at age 65. Some carriers also offer discounts as high as 30% for married couples.

Clearly, whether you opt for LTC insurance or not, you should have some kind of plan for how you’ll pay for LTC in retirement. LTC insurance is one way to safeguard against the high potential costs of nursing homes, assisted living, and in-home health services. If you feel that a few thousand dollars per year is a fair price to pay for the peace of mind of knowing you’ll be able to afford the proper care, LTC insurance could be a smart move for you.

¹Long-Term Care – An Update. National Council on Teacher Retirement. https://nctr.org/long-term-care-an-update/, March 27, 2025.
²Chen, Anqi, Alicia H. Munnell, and Nilufer Gok. 2025. “Do Households Have a Good Sense of Their Long-Term Care Risks?” Issue in Brief 25-3. Chestnut Hill, MA: Center for Retirement Research at Boston College.
³Long-Term Care-Important Information for Women. American Association for Long-Term Care Insurance. www.aaltci.org/long-term-care-insurance/learning-center/for-women.php, Retrieved January 14, 2026.
⁴Cost of Care Survey. CareScout. www.carescout.com/cost-of-care, Retrieved January 15, 2026.
⁵Long Term Care Costs. The Federal Long Term Care Insurance Program. https://www.ltcfeds.gov/long-term-care/costs. Retrieved January 15, 2026.
⁶How Much Does Long-Term Care Insurance Cost and Is It Worth It? National Council on Aging. www.ncoa.org/article/how-much-does-long-term-care-insurance-cost-and-is-it-worth-it, February 13, 2025.