Fortunately, there are a number of straightforward steps lawmakers, retirees, and young Americans can take to prepare for long-term care and ease the strain on the federal budget.

A long-term care policy with a $165,000 benefit cost an average of $900 a year for a 55-year-old male in 2023, according to AALTCI, and $1,500 for a 55-year-old woman.

1. Opt for an annuity doubler. Rather than buying long-term care insurance by itself, you may want to purchase it as a dual product — meaning you're purchasing it with other types of coverage ...

According to the U.S. Department of Health and Human Services, more than half of Americans over 65 will need help with basic activities at some point in their lives. Long-term care (LTC) insurance ...

Long-term care refers to help with daily living for people who are frail or disabled — bathing, dressing, using the toilet, preparing meals, shopping, walking and taking medications.

Paying for long-term care can bankrupt even middle-class people. Assisted living runs an average of $70,800 a year, according to a major survey of providers in 2024. A private room in a nursing ...