Long-term care is the single most expensive risk most families never plan for. According to the 2024 Genworth Cost of Care Survey, the national median cost of a semi-private room in a nursing home now exceeds $111,000 per year.1 Most policies have to be in place years before there's a diagnosis. We don't wait until it's too late to have the conversation.
The honest numbers.
The U.S. Department of Health & Human Services Administration for Community Living reports that someone turning 65 today has approximately a 70% chance of needing some type of long-term care services in their lifetime.2 In Louisiana, the 2024 annual median cost for a semi-private nursing home room was $89,790, among the lowest in the nation, but still substantial.3 And per Medicare.gov, Medicare and Medigap do not pay for long-term custodial care.4
The two questions every family should answer before retirement:
- Can you self-insure for a 3–5 year care event without devastating the surviving spouse?
- If not, what coverage makes sense, and when does the planning window close?
What we actually do.
- Long-term care insurance review: existing policies, hybrid options, traditional LTC.
- Self-insurance feasibility analysis: stress-test your portfolio against a real care event.
- Hybrid life/LTC product strategies: for families who want flexibility, not just coverage.
- Medicaid planning coordination: done early, done legally, done with an estate attorney.
The earlier you start, the more options you have. By 65, many of the best options are off the table. By 70, most are.
A note on honesty.
Long-term care insurance isn't right for everyone, and we'll tell you so. If your assets and income can absorb a multi-year care event without putting your spouse at risk, you may not need coverage. But you need to know — not guess.The Burton Group