2023 Long-Term Care Insurance Price Index Released
The Californer/10232366

LOS ANGELES - Californer -- Costs for long-term care insurance in show little change from the prior year according to the annual price index released today by the American Association for Long-Term Care Insurance (AALTCI).

"Premiums for buyers are virtually identical to last year; some are actually slightly lower," reports Jesse Slome, director of the organization.  "However, the spread between the lowest and highest prices for basically identical policy coverage has grown."

According to the annual analysis, a 55-year-old male purchasing $165,000 of immediate benefits could expect to pay $900 a year. In 2022, the organization reported premium costs of $950. This year, adding an inflation growth option that increased available benefit levels by 3 percent yearly would cost $2,100, a $100 decline from the prior year. "The additional cost reflects the fact that policy benefits will be worth over $400,000 at age 85 and even more if care is needed after that," Slome explains.

More on The Californer

• Wings Air Helicopters Selected to Support VIP Transportation for Resorts World in New York
• Tired of Guessing About Your Health? Brittany Poliska Launches 21-Day Wellness Assessment
• Ayurveda, Ayurvedic Medicine & Ayurvedic Science, Dr. Abhay Kumar Pati, USA
• Ayurvedic Medicine, is not only medicine, it is preventative and Curatative, Dr.Abhay K Pati USA
• Scoop Social Co. Brings Its Signature Mobile Dessert Experience to Houston This October

Women continue to pay significantly more for long-term care insurance. "Costs for a 55-year-old female applicant purchasing the same level of benefits would be $1,500 and $3,600," Slome shares. A year earlier the premiums reported in the analysis were $1,500 and $3,700 respectively.

The 2023 Long-Term Care Insurance Price Index reports available costs for men, women and couples at ages 55, 60 and 65. "We strive to show that there isn't one fixed option and that coverage can be less costly than many people perceive," Slome adds. "We show multiple levels of inflation protection which, while important, will significantly add to the yearly cost of coverage."

Adding a 3 percent inflation growth option to base coverage tends to double the premium cost according to AALTCI. "It will be interesting to see how consumers now deal with concerns about future inflation," Slome says.

The most notable difference from prior reports is the spread in costs between the lowest and highest priced policies on the market. "In some cases, one insurer literally charges more than twice the cost of another for virtually identical coverage," Slome reports. "I am not sure what accounts for such a significant difference but it reinforces our belief that in 2023 consumer should do comparison shopping before making a decision."

More on The Californer

• California: Governor Newsom signs legislation 9.14.2026
• Governor Newsom announces California-backed victory after Supreme Court blocks Trump's attack on vote-by-mail
• Foster Hope Family Launches Foster Toolkit to Equip Foster and Adoptive Parents Nationwide
• Foster Hope Family Equips Churches to Care for 330,000 Children in U.S. Foster Care
• Hollywood International Screen Awards 2026

To see the 2023 Long-Term Care Insurance Price Index information for traditional LTCi policies, go to https://www.aaltci.org/long-term-care-insurance/learning-center/ltcfacts-2023.php. The organization will add comparisons for linked benefit policies later this month.

The American Association for Long-Term Care Insurance (AALTCI) advocates for the importance of long-term care planning. Since 1998 AALTCI has supported insurance professionals who market both traditional and hybrid long-term care solutions.  To access information, go to https://www.aaltci.org or call the organization at 818-597-3227.