key takeaways that might surprise you

• Around 70% of Americans over 65 will need some form of long-term care, no matter how healthy they are today

• Medicare only covers a tiny slice of this, leaving most people with big out-of-pocket costs

• Long-term care insurance has evolved to include home care, adult day programs, and assisted living

• Waiting to buy it often means steep premiums or being declined entirely

• Sage Senior Support helps families navigate care transitions and close the funding gap when insurance doesn't go far enough

why timing matters: the cost of waiting

Waiting to buy long-term care insurance can be a costly mistake—literally. As you age, premiums climb, and your health may decline. Both factors can make coverage harder to get or even impossible.

Let’s break this down:

• A healthy 55-year-old might pay $1,500–$2,500 a year

• That same person at 65? They’re looking at $3,000–$5,000 annually for the same policy

And here’s the kicker: the older you get, the more likely you’ll be denied coverage altogether. Nearly half of all applicants in their 70s are declined due to health issues. Some of the most common conditions—like high blood pressure, diabetes, or past surgeries—can be disqualifying or lead to major rate increases.

What does this mean in real life? If you wait until your 60s or 70s, the odds are higher that you’ll either pay more, get less, or get nothing at all. Planning early means better rates, stronger coverage, and peace of mind that you're prepared.

Another reason to act early: you can lock in your premium while you’re still healthy. Many people are shocked to learn they’re no longer eligible once they finally “feel ready.” But readiness doesn’t mean anything if an insurer sees you as a risk. Buying younger gives you leverage.

you don’t have to cover everything to be prepared

Many people think they need to buy a policy that covers 100% of potential care costs. That’s not always necessary—or financially realistic. Long-term care insurance doesn’t have to be all or nothing. It’s about strategic protection.

Think of it this way: even partial coverage can dramatically ease the burden. Instead of depleting your retirement accounts, your policy can pay for in-home aides or a few months in assisted living, buying time to make smarter financial decisions.

Ways to make coverage more affordable:

• Choose a longer elimination period (you cover the first 60–90 days of care)

• Reduce the daily benefit amount (cover a portion, not the full cost)

• Limit the benefit duration (e.g., 3 years instead of unlimited)

• Skip inflation protection if you’re older, or choose simple instead of compound

Even modest policies can preserve your savings and protect your family. It’s not about buying the biggest plan—it’s about buying the right one for your budget and goals.

“what if I never use it?” hybrid policies offer peace of mind

One of the biggest concerns people have is paying into a policy they might never use. That’s where hybrid policies come in.

A hybrid long-term care policy combines life insurance or an annuity with long-term care benefits. If you never use the long-term care portion, the policy pays a death benefit to your heirs. Some even offer return-of-premium features, giving back part or all of your investment if you cancel the policy.

These products are growing in popularity because they eliminate the “use it or lose it” worry. Yes, they tend to require higher upfront payments—but they guarantee that someone will benefit from the policy. And that assurance is often worth the cost.

the invisible toll of family caregiving

Most families don’t fully grasp the toll caregiving takes until they’re deep in it. The costs go far beyond time and money—they touch every part of life.

According to AARP:

• The average caregiver loses $304,000 in income and benefits

• 78% use their own money to pay for care

• 34% take on new debt

• 53% delay their own medical care

• Most lose retirement savings—an average of $114,000

These aren’t just numbers. They’re people stepping back from careers, draining their own resources, and putting their future on hold—all while trying to help someone they love.

Having a long-term care plan can dramatically reduce that stress. Insurance helps cover the costs of professional help, which gives family members the freedom to be family—not full-time caregivers.

It also avoids sudden, rushed decisions when something unexpected happens. You won’t be calling around at 2 a.m. trying to find a facility or figure out how to afford home care. The plan is already in place.

why Medicaid isn’t a simple solution

Some people assume they’ll “just go on Medicaid” if they need long-term care. But the reality of qualifying is much more complicated—and often, painful.

To be eligible for Medicaid, you have to spend down nearly all your assets. In most states, you’re allowed only about $2,000 in countable resources. That means draining savings, cashing out investments, and often giving up control of financial decisions.

Worse yet, Medicaid has a five-year look-back period. Any assets you gifted, transferred, or sold under market value in the last five years can trigger a penalty that delays your coverage. So last-minute planning? It usually backfires.

Even once qualified, your options are limited. Not all care facilities accept Medicaid, and those that do may not have availability or meet your expectations. Home care services through Medicaid are even more restrictive.

Long-term care insurance keeps you in control. It allows you to choose where you receive care, who provides it, and how it’s delivered. Medicaid is the backup plan, not the ideal one.

how Sage Senior Support bridges the financial gap

Even with long-term care insurance, families often face timing gaps—especially in the early days of a care transition. That’s when Sage Senior Support steps in.

They help families:

• Sell a home quickly and efficiently to access funds fast (learn more)

• Coordinate transitions into care communities or bring care home

• Navigate emotional and financial decisions with clarity and support

In situations where a loved one needs help now, Sage steps in to remove the pressure and provide options. Whether it’s unlocking equity, finding trustworthy providers, or handling paperwork, they make an overwhelming process feel manageable.

And because they’ve walked this path with countless other families, they know how to listen, guide, and support without judgment. You’re not alone in this.

If you’re ready to get some answers—or just someone to talk it through with—reach out. No pressure. Just support.

bottom line: it’s your choice—but only if you plan ahead

Planning for long-term care isn’t about being fearful. It’s about being smart. It’s about giving yourself—and your family—the gift of choice.

When you ignore the issue, decisions get made for you. Options disappear. Costs pile up. And family members are left scrambling, stressed, and overwhelmed.

When you plan ahead, you stay in control. You get to decide whether you age at home or move into a care community. You choose the kind of support you receive and the way it’s delivered. You protect your finances, your freedom, and your peace of mind.

Long-term care insurance may not be right for everyone—but understanding your options and making an informed decision is. Start the conversation now. Your future self will thank you.

And when you’re ready, Sage Senior Support is here to help every step of the way.