Part of our guide: Long-Term Care Insurance: Costs, Options and Planning →
November is Long-Term Care Awareness Month, a good reminder for families to talk about something most would rather avoid: what happens if someone needs extended care, and how it would be paid for.
Key takeaways
- Close to 70% of people turning 65 will need some form of long-term care.
- Health insurance and Medicare don’t pay for most extended custodial care.
- In 2025, a private nursing home room cost a national median of about $130,000 a year, and assisted living about $74,400.
A private nursing home room now costs a national median of about $130,000 a year. Most families have never planned for that.
The key facts
- Close to 70% of people turning 65 will need some type of long-term care services.
- Many people assume health insurance or Medicare will pay. Neither covers most extended custodial care.
- National median costs in 2025: about $74,400 a year for assisted living and about $130,000 a year for a private nursing home room (CareScout 2025 Cost of Care Survey). More in our 2025 cost of care summary.
What’s at stake
A few years of care can drain a lifetime of retirement savings. The emotional and physical strain on family caregivers can be just as heavy. Long-term care insurance protects retirement assets and helps ensure a loved one is cared for in the setting they prefer.
Why buying earlier helps
Premiums are lower, and qualifying is easier, when clients buy younger and healthier. Traditional LTC premiums aren’t guaranteed and can rise if the carrier raises rates for an entire class of policyholders, while many hybrid products offer guaranteed premiums. Either way, the cost of coverage is usually far less than paying for care out of pocket.
Use the month to start conversations
Awareness month gives advisors a natural reason to reach out. Try eight ways to ease into the talk, and contact our LTC team for design help.
Frequently asked questions
When is Long-Term Care Awareness Month?
November.
What are the chances of needing long-term care?
Close to 70% of people turning 65 will need some type of long-term care services during their lives.
Can long-term care insurance premiums increase?
Traditional LTC premiums can increase if the carrier raises rates for an entire class of policies. Many hybrid policies have guaranteed premiums.
Reviewed by Tim Fuller on 2026-09-25
Tim Fuller
President, SRS Inc.
Tim leads SRS Inc., a full-service IMO (Independent Marketing Organization) and BGA (Brokerage General Agency), connecting independent financial professionals with life, annuity, disability income, and long-term care solutions from 60+ carrier partners.
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