The Tennessee Department of Commerce & Insurance recognizes November as national Long-Term Care Awareness Month by encouraging consumers to learn more about the importance of long-term care planning today. As Americans live longer, they face greater needs and an increased incidence of chronic illness and disabilities that require medical assistance.
According to recent figures from the U.S. Department of Health and Human Services, someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and supports in their remaining years. By 2030, one in five residents in the US will be 65 or older, and the number of those in need of long-term support services in the U.S. (estimated at 14 million today) is expected to grow to 27 million by 2050.
Those services come with rising costs. In 2024, figures show that the annual median cost of a semi-private room in a skilled nursing facility increased 7 percent, from $104,028 to $111,325, while the cost of a private room rose 9 percent, from about $116,800 to $127,750. A long-term care insurance policy can offset the financial burden of future care that is not covered by Medicaid or Medicare. According to industry estimates, the long-term care insurance industry paid $14.1 billion in benefits to 353,000 individuals with insurance protection in 2023.
TDCI recommends meeting with your licensed Tennessee insurance producer to discuss the long-term care insurance options available to consumers and verifying that an individual or company is properly licensed. Pros TDCI lists for standalone long-term care insurance include coverage up to a cap, possible aging-in-place costs, and riders such as inflation protection or spousal coverage. This is educational context only—not a recommendation of any specific product.
Seasons change. So should your coverage. For a free personal policy review, call 865-263-1400 or visit asigtn.com/get-a-quote/.
By All Seasons Insurance Group — informational only; no coverage or eligibility promise.
| TDCI LTC planning figure | Value cited |
|---|---|
| Chance of needing LTC after 65 (HHS via TDCI) | Almost 70% |
| 2024 median semi-private nursing room | $111,325 (up 7% from $104,028) |
| 2024 median private nursing room | $127,750 (up 9% from about $116,800) |
| 2023 industry benefits paid | $14.1 billion to 353,000 individuals |
Why is TDCI recognizing Long-Term Care Awareness Month?
TDCI recognizes November as national Long-Term Care Awareness Month and encourages consumers to learn more about long-term care planning today.
What chance of needing long-term care does HHS cite for someone turning 65 today?
TDCI cites U.S. Department of Health and Human Services figures that someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and supports in their remaining years.
What 2024 median nursing-facility costs does TDCI cite?
TDCI cites 2024 figures showing the annual median cost of a semi-private skilled nursing room rose 7 percent from $104,028 to $111,325, while a private room rose 9 percent from about $116,800 to $127,750.
Does Medicare or Medicaid automatically cover all long-term care costs?
TDCI says a long-term care insurance policy can offset the financial burden of future care that is not covered by Medicaid or Medicare.
How much did the LTC insurance industry pay in benefits in 2023 per TDCI?
TDCI cites industry estimates that the long-term care insurance industry paid $14.1 billion in benefits to 353,000 individuals in 2023.
What should consumers do before buying LTC coverage?
TDCI recommends meeting with a licensed Tennessee insurance producer and verifying the individual or company is properly licensed.
Is this article a promise that a specific LTC policy will pay?
No. It restates TDCI’s Long-Term Care Awareness Month guidance. Actual benefits depend on the policy you buy.
How can All Seasons help after reading this?
Call 865-263-1400 or visit asigtn.com/get-a-quote/ for a free personal policy review.
