California Long-Term Care Insurance Comparisons
Find a plan that’s right for you with our highly rated insurance companies, multiple plan options, and expert long-term care advisors.
- Traditional Long-Term Care Insurance
- Hybrid Life Insurance with LTC
- Long-Term Care Annuities
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Owning long-term care insurance in California can play a significant role in your family’s future well-being. By planning ahead you can provide security and peace of mind for years to come by knowing you can:
✔ Secure quality, affordable long-term care.
✔ Safeguard your assets for your spouse and other heirs.
✔ Relieve family members and friends from having to provide extended-care.
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Did You Know?
Almost 70% of people turning age 65 today will need some type of long-term care in the future. The average length of time people need care is 3 years.1
One-third of people may never need long-term care, but 20% will need it for longer than 5 years. On average women need 3.7 years of care while men need 2.2 years.2
In 2024, the average cost for 3 years of long-term care in California is $394,047 ($131,349/year). That cost is projected to be $863,406 ($287,802/year) in 2044.3
Understand Long-Term Care Costs
California Long-Term Care Rates – 2024 (annual) | |||
| Nursing Home (private room) | Assisted Living (private room) | Home Care (44 hours/week) | |
| State Average | $131,349 | $72,570 | $72,846 |
| Region | Nursing Home | Assisted Living | Home Care |
| Bakersfield | $114,027 | $48,784 | $59,853 |
| Chico | $130,390 | $59,409 | $68,751 |
| El Centro | $131,349 | $58,545 | $68,694 |
| Fresno | $132,533 | $53,581 | $69,339 |
| Hanford-Corcoran | $138,691 | $57,476 | $72,846 |
| Los Angeles | $117,802 | $76,053 | $66,683 |
| Madera | $112,292 | $50,563 | $70,044 |
| Merced | $123,706 | $59,779 | $75,650 |
| Modesto | $140,611 | $50,907 | $69,346 |
| Napa | $165,669 | $92,658 | $70,025 |
| Oxnard-Thousand Oaks-Ventura | $127,385 | $72,733 | $78,442 |
| Redding | $133,406 | $62,894 | $71,445 |
| Riverside-San Bernardino-Ontario | $119,579 | $55,036 | $69,208 |
| Sacramento-Roseville | $125,380 | $72,404 | $66,419 |
| Salinas | $142,655 | $87,917 | $81,479 |
| San Diego-Carlsbad | $135,241 | $66,530 | $64,620 |
| San Francisco | $140,819 | $86,920 | $79,249 |
| San Jose-Sunnyvale-Santa Clara | $135,713 | $89,618 | $86,334 |
| San Luis Obispo-Paso Robles | $128,620 | $80,177 | $69,860 |
| Santa Cruz-Watsonville | $126,812 | $95,561 | $90,554 |
| Santa Maria-Santa Barbara | $171,030 | $82,231 | $74,318 |
| Santa Rosa-San Rafael | $140,107 | $86,517 | $85,323 |
| Stockton-Lodi | $127,035 | $53,002 | $73,120 |
| Vallejo-Fairfield | $124,590 | $74,298 | $63,419 |
| Visalia-Porterville | $99,764 | $55,928 | $69,771 |
| Yuba City | $123,935 | $55,989 | $80,162 |
Nationwide Financial annual cost of care survey conducted by HVS, site accessed 4/16/2024
Does Medicare Cover Long-Term Care?
No. Medicare does not cover long-term care (custodial care). This type of care makes up more than 90% of all long-term care services. Examples of custodial care is when you need help with walking, bathing, eating, dressing or using the toilet. This is what people need most when they have a physical impairment from a stroke. Or, due to cognitive impairment from dementia or Alzheimer’s disease. Don’t make the mistake of thinking Medicare covers long-term care costs. It doesn’t.
Further, about 80% of care at home is provided by unpaid caregivers. With more than half of this care including intensive caregiving assistance with personal care such as bathing or feeding.4 And it’s not only seniors that need long-term care. Over 35 percent of people currently receiving care are between the ages of 18 and 64.5
When To Buy Long-Term Care Insurance?
The best age to buy long-term care insurance is when you’re in your fifties or early sixties. Here’s why this makes financial sense:
- The younger you are when you secure a long-term care plan, the lower the annual premiums.
- Even though you pay premiums a longer period of time, you’ll typically pay less overall than someone buying at an older age.
- By the time you reach your mid sixties, you’re more likely to have a medical condition that makes you ineligible for a preferred-health discount, or make it through medical underwriting at all.
- While you’re waiting, you’re uninsured. If an accident or illness happens causing you to need long-term care, you’ll have to cover long-term expenses out of pocket.
Compare Long-Term Care Insurance Options
Protect your family and assets by planning ahead.
California LTC Insurance Alternatives
These are the types of long-term care insurance plans available in California.
Traditional LTC Insurance—California Long-Term Care Partnership
- The most comprehensive long-term care coverage for your dollar
- About half of all long-term care plans purchased
- The broadest set of options
- Recurring premiums
- Learn more about Traditional LTC >
Life Insurance with Long-Term Care Rider
- A permanent life insurance policy that can be used during your lifetime if you need long-term healthcare
- If care is not needed, your asset passes to your estate as a tax-free death benefit
- May build cash value and have a return of insurance premium option
- Premiums will NOT increase and 1035 exchanges are possible
- Can be funded with qualified dollars (IRA, 401k, etc.)
- Learn more about Hybrid Life with LTC >
Annuity with Long-Term Care Rider
- A deferred annuity contract with a fixed interest rate and possible indexing for asset growth plus long-term care benefits
- If not exhausted paying for long-term healthcare, the annuity will transfer to your estate
- Long-term care benefits are typically double or triple the value of the annuity
- Premiums will NOT increase and 1035 exchanges possible
- Learn more about Hybrid Annuities with LTC >
Understand LTC Partnership Plans
California Long-Term Care Partnership
California Partnership for Long-Term Care policies combine private long-term care insurance with Medicaid (Medi-Cal) asset protection. Only Partnership program policies provide this type of Medicaid asset protection when you need nursing facility, assisted living facility or home health care.
The unique asset protection benefits of the California Partnership for Long-Term Care program apply if your long-term healthcare needs last longer than the insurance benefits of your Partnership policy. For example, for every dollar your California Partnership for LTC policy pays in health care costs, a dollar of assets is protected from the long-term care Medicaid (Medi-Cal) asset limit. The protected assets are also exempt from Estate Recovery in the same amount as the health care costs paid by your Partnership policy.
Even though California Partnership for Long-Term Care insurance premiums are like regular policies, we recommend comparing them with regular long-term policies. You may find that non-Partnership policies have options that better fit your needs. This includes Hybrid Long-Term Care Insurance plans not available under the California Partnership for Long-Term Care.
NOTE: As of the date of this writing, no insurance companies are currently offering LTC Partnership qualified products in California. This means you cannot buy a California Partnership for Long-Term Care policy at this time. This does not affect current, active insureds who are Partnership qualified.
Traditional non-Partnership and Hybrid Long-Term Care Insurance plans are available.
Partnership Reciprocity
California does NOT participate in the national reciprocity agreement.
In states with Reciprocity, you can buy a qualifying Partnership for Long-Term Care policy in one state and maintain the special asset protection benefit when you move to another state with reciprocity. Your new state would recognize accumulated asset protection for Medicaid qualification if you’re already receiving benefits from your LTC Partnership policy before moving. The majority of states have Partnership Reciprocity and California is one of the exceptions.
Who Sells Long-Term Care Insurance in California
Who sells the best long-term care insurance company in California? It depends on your personal situation as it relates to age, health and other factors. Choosing a high ranking company is important, but the plan must have the right set of benefits for your needs.
Our licensed professionals will help you choose the best long-term care plan for your situation from these highly rated insurance companies:
- Bankers Life & Casualty
- Global Atlantic
- LifeSecure
- Lincoln Financial (MoneyGuard)
- Mutual of Omaha
- National Guardian Life (NGL)
- Nationwide Life Insurance Company
- New York Life
- Northwestern Mutual
- OneAmerica
- Securian Financial
- Thrivent Financial
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Our specialists offer objective guidance on a wide range of long-term care planning products and strategies. Expect personalized service on topics such as:
✔ Choosing from a variety of long-term care planning products
✔ Suggestions for the insurance company best suited to your situation and goals
✔ Assistance with medical underwriting (qualifying) for insurance coverage
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About the Author: Craig Matesky
Reviewed by: Mike Berger