Saving Strategies for Couples – Age 60 – 2019 Price Index

Click Here to See the 2019-Price Index And Savings Strategies for Age-60

Price remains a major reason millions of American couples forgo purchasing long-term care insurance.  “It’s pretty simple, this is an optional purchase and many people today just don’t want to spend $300 or more a month for something they feel they might never need or use,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance.

“I don’t blame consumers.  The problem in my opinion continues to lie with the fact that many who take the initiative to even consider this important protection are shown what I call an ‘off the shelf’ solution,” Slome cites.  By that he refers to a policy that pays an initial facility daily benefit of $150-per-day, will provide care for 3 years and includes a three percent inflation growth option.  “The average cost for such coverage according to our 2019 price analysis of leading insurers can range from about $3,500 a year to well over $10,000 a year for virtually the same level of coverage,” Slome explains.

The Association director maintains there are smarter ways for couples to approach long-term care insurance planning.  “By smarter, I mean saving money and having some insurance protection in place because some protection is always going to be better than having none,” he advises.

Slome suggested two options that were included in the Association’s 2019 Price Index analysis.  “The three percent inflation growth option is an arbitrary recommendation made by your agent and often cited by many well-meaning media,” Slome notes.  “But it’s nothing more than a guess and an expensive one that prices many people out of the long-term care insurance market.”  Instead Slome notes that reducing the option from three to two percent can save a 60-year-old couple 20 percent annually.  “Inflation’s been tame for the past decade and of course no one can predict the future but even if you have to supplement future care costs from your Social security or retirement assets, that’s going to be doable.  And, if inflation increases, well then so typically does the value of your assets and the income one earns from CDs and bonds.”

The other often overlooked option is the shared care option.  “This is an incredible benefit not offered by every insurance company but for a couple, I think it’s the best-kept secret today,” Slome declares.  “With the off-the-shelf approach each spouse is capped by the value of their own policy.  With the shared care option, if one spouse exhausts their benefits, they can tap or access the benefits available in the other spouse’s benefit pool.  That’s an incredible planning tool for couples.”

Couples Request Long-Term Care Insurance Costs from Specialists

Slome notes that each insurance company sets their own pricing and specific policy features.  “This is a case where you really benefit from working with a knowledgeable specialist, someone appointed with multiple long-term care insurance companies,” he advises.  To connect with a specialist, call the Association offices at 818-597-3227 or request no-cost and no-obligation by completing the online request a quote form available at







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