For many people, November isn’t just about turkey and the gradually increasing prevalence of holiday music and decorations. It’s also typically the period most employers and Affordable Care Act insurance plans begin to offer open enrollment. This year, when renewing your usual coverage, consider adding a Long-Term Care plan if it’s available. Though you may think it’s unnecessary depending on your age, a long-term care plan could be instrumental in maintaining or improving your quality of life.

What is Long-Term Care?

Long-term care does not refer only to hospital or hospice stays. Long-term care is a broad term and can refer not just to medical or personal care, but community support and social exercises, as well. A significant amount of long-term care occurs in the home, referred to as home-based care. Most of these services are personal, like bathing, dressing, and preparing meals, and are often informal, being provided by a family member or friend. However, many people require supplemental homecare from a professional, such as a nurse or aide.

Long-term care can also refer to services provided in a residential facility like a nursing home or assisted living facility. Those in assisted living often require frequent medical interventions and these facilities are staffed by medical professionals. An often overlooked aspect of long-term care is community care; services provided by senior centers that usually involve social activities, personal care, and transportation services.

It should come as no surprise that these services can be extremely costly. The median annual cost of an in-home health aide is nearly $80,000, and the annual cost of a nursing home can run people upwards of $111,000. (Genworth and CareScout Release Cost of Care Survey Results for 2024, 2025) Those costs can be debilitating and nearly impossible for your average person to absorb, especially when the ACA and medical insurance plans do not cover long-term care.

Who Needs Long-Term Care?

Long-term care is most often sought by older people, with over 70% of Americans over the age of 65 requiring long-term care, according to a survey by the United States Department of Health and Human Services. (Caregiver Resources & Long-Term Care, 2022) Disabilities like Alzheimer’s Disease, dementia, and a number of physical ailments typically affect older Americans in greater numbers, leading to a larger share of older people needing these services. However, Americans 18-64 are requiring long-term care in greater numbers than ever, with the percentage roughly doubling in the last two decades. (Younger Adults in Long Term Care, 2025) Many younger people may not see themselves needing these services, but illness or accident can strike quickly and having a safety net is crucial.

Currently, only around 32% of employers offer long-term care insurance, despite it being one of the most requested benefits by executives. (Age of Opportunity: Redefining Talent with the 65-and-Over Workforce, n.d.) It is estimated that fewer than 1 in 30 Americans have a long-term care policy, largely because of the false perception that their traditional health insurance would cover the costs of a long-term care program, and the lack of availability.

Employees may be more swayed by the increasingly popular Life with Long-Term Care Plans offered by employers. These hybrid programs combine the benefits of life insurance with the features of long-term care insurance, guaranteeing an eventual benefit, rather than a standalone long-term care plan that would only pay out in the event of services being required. These plans are largely more affordable and available, and represent the ability for younger employees to lock in a low rate to prepare for the future.

In any event, employees of all ages can benefit from a long-term care policy. For older employees, these benefits provide a sense of security as the employee approaches retirement, especially with over two-thirds of those over 65 requiring long-term care. Some younger employees may think of these benefits as being superfluous, but being prepared and getting the care you need is a far better option than staring down potentially crippling debt.