Women and Long-Term Care: What You Need to Know

Long-term care (LTC) has the most significant impact on women.

Yet despite the higher risk, few actually plan for it.

In this article, we’ll break down why LTC insurance is especially important for women to consider, and how it can be the support you need when care becomes unavoidable.

What is Long-Term Care?

LTC is assistance with basic daily tasks, such as bathing, dressing, toileting, and eating, when you’re no longer able to do them on your own. It is not medical care.

Contrary to popular belief, Medicare and health insurance do not cover LTC. And without dedicated LTC insurance, the cost falls entirely on your personal savings or your family.

Why LTC Hits Women Harder

Women face greater LTC risks for two main reasons:

• They live 5 years longer than men on average (Source)
• They’re more likely to be caregivers (Source)

These factors create a measurable disadvantage for women – and the numbers tell the story:

• Women account for an estimated 66% of all LTC insurance claims (Source)
• Over 70% of nursing home residents are women (Source)
• Women spend 2x as many years in a disabled state at the end of life (Source)

Living alone in retirement, along with longer lifespans, often means women face both more years requiring care and higher expenses to cover it.

The Hidden Cost of Caregiving for Women

Women aren’t just more likely to need LTC, but they’re also more likely to be the ones providing care to their loved ones.

An estimated 61% of all family caregivers are women, and on average, they provide 50% more caregiving hours than men. (Source)

But this often comes at a significant personal cost:

• Those who begin caregiving at a younger age can face up to a 90% shortfall in retirement savings (Source)
• Nearly 25% of caregivers indicate difficulty in caring for themselves because of caregiving (Source)
• The average family caregiver spends an average of $7,200/year out of pocket on caregiving expenses (Source)

When women take on caregiving roles, they often sacrifice their own financial security and health, making it harder to afford care later in life.

This leads to the bigger question: what steps are you taking to protect your future?

Why LTC Insurance Matters for Women

In 2024 alone, traditional LTC policies paid out an estimated $15 billion in claims. (Source)

That’s $15 billion that families didn’t have to cover out-of-pocket or pull from retirement accounts, nor did they have to give up work or provide care themselves.

LTC insurance helps cover the cost of professional care, easing the emotional and financial burden on loved ones while allowing you to stay in control of your care choices.

This is especially important for women, who are more likely to need LTC and more likely to face financial hardship without insurance.

How Dewitt & Dunn Can Help

As with all insurance strategies, LTC insurance isn’t right for everyone. It depends on your age, needs, budget, and overall plan.

Whether you’re planning for yourself or a loved one, Dewitt & Dunn can help you decide if LTC coverage makes sense and, if so, which option fits you best.

Don’t wait until care becomes a crisis; make LTC part of your financial plan now. Book an appointment with us today to get started.