Research · October 2026
The 2026 Staying Power Planning Report
How Americans see aging at home, how ready they are to pay for it, and when and why people who plan ahead decide to act.
The short version
Seven things this year’s report found.
- Almost no one is insured, and many think they are. About 3% of Americans have long-term care insurance, but 29% believe they have coverage.13
- Most people guess their odds far too low. 60% of people in our research put their chance of needing care at 40% or less. The real figure is about 70%.1
- The Medicare mistake is the majority view. 62% of adults 50+ believe Medicare pays for a long-term nursing home stay. It doesn’t cover the everyday care most people need.3, 16
- Medicaid isn’t a quick safety net, even for those who qualify. Nearly 650,000 people are on waiting lists for Medicaid home care, and the average wait is 34 months.19
- People fear being alone more than the bill. 84% worry about having no one to advocate for them if they need care, more than the 71% who worry about paying for it.15
- Buyers are getting younger. The average buyer is now 60, down from 68 in 1990, and 81% of people who bought a policy in 2024 were under 65.25, 26
- Caregiving is what gets people to act. Among adults we interviewed about their own planning, caring for someone else is what moved 80% to start. Women who care for a mother give up a median $24,500 in wages over two years.23
Key findings
People want to stay home. Most have not planned how to pay for it.
This report combines our own research with people in their 40s to 70s and their families with the latest national data on aging, care and costs.
Part 1 · The size of the problem
Long-term care is coming for most of us, and it is expensive.
Someone turning 65 today has almost a 70% chance of needing help with everyday activities like bathing, dressing or getting around.1 The population that needs that help is growing fast.
64.6M
Americans are 65 or older, nearly 1 in 5 people.4
2x
The number of Americans 85+ is projected to more than double by 2040.5
$563.7B
was spent on long-term care services in the U.S. in 2023.6
$1T
a year is the value of unpaid care family members provide.7
63M
Americans are family caregivers, about 1 in 4 adults.8
3.7 yrs
is how long women need care on average. Men need it for 2.2 years, and 1 in 5 people need it for more than five.1
Care costs rose 1% to 5% in most settings last year.9 A person turning 65 can expect about $137,800 in future long-term care costs, and families pay almost 59% of that themselves.10
Part 2 · Where people want to age
Almost everyone wants to age at home.
In our research, 64% of people want to stay in their current home as they age. 22% aren’t sure yet, 8% plan on a senior community and 3% on moving in with a child.
Nationally, 75% of adults 50+ want to stay in their current home as long as possible,11 and 65% of people who need long-term care receive it at home.1
“I don’t want to be dependent, but I also don’t want to be stupid and put myself in a situation where I need help and I’m not asking for it.”
Wanting to stay home can also make people hide when they need help. In our interviews with older adults and family caregivers, parents often said “I’m fine” on the phone, and families saw the real picture only on a surprise visit. Help was easiest to accept when it looked like company.
Part 3 · How prepared people are
Wanting to stay home is not the same as planning for it.
We asked people to guess their chance of needing long-term care. 60% guessed 40% or lower, well under the roughly 70% national estimate.1
37%
of adults 50 to 64 have taken any step to plan for long-term care.3
72%
of adults 40+ have done little or no planning for their own long-term care.12
~3%
of Americans have long-term care insurance, though 29% think they have coverage.13
29% of people in our research are planning on their own, with no partner in the picture. Only about 1 in 3 U.S. adults has an advance directive.14 Among people who want care at home, only 37% have a savings plan to pay for it.15
Part 4 · The funding gap
Most people don’t know how they’ll pay, and many are counting on help that won’t come.
In our research, 37% don’t yet know how they would pay for long-term care, and 15% expect Medicare or Medicaid to pay. Nationally, Medicaid pays 45.6% of the country’s long-term care bill and private insurance just 8.7%.6
“If you have a certain income bracket, you can’t be helped… your help has to come out of your pocket.”
Four common myths
What people count on, and what really happens.
These are the assumptions we hear most often, set against what the data shows.
Myth
Medicare will pay for my long-term care.
Reality
Medicare doesn’t cover custodial care, the everyday help most people need.16 It covers short skilled nursing stays after a hospital visit, with $217 a day due from day 21 and nothing after day 100.17 Yet 62% of adults 50+ believe it pays for a long-term nursing home stay.3
Myth
Medicaid is my safety net.
Reality
Medicaid long-term care generally requires savings of about $2,000 or less.18 Even then, nearly 650,000 people are waiting for Medicaid home care, for 34 months on average,19 and 71% of Area Agencies on Aging have waiting lists.20
Myth
My family will take care of me.
Reality
Family caregivers of adults 50+ average 26 hours a week for about five years.21 3 in 5 are women,22 and women who care for a mother give up a median $24,500 in wages over two years.23 47% of caregivers say it has hurt them financially.8
Myth
My savings will cover it.
Reality
A home care aide costs a national median of $80,080 a year, and a private nursing home room $129,575.9 By 2033, about 11.5 million middle-income Americans 75+ won’t be able to afford private assisted living and care.24
Part 5 · When people buy
Most people buy before 65, and the window narrows every year.
81% of people who bought a stand-alone long-term care policy in 2024 were under 65, and 45% were 55 to 64.26
60
was the average age of a long-term care insurance buyer, down from 68 in 1990.25
+50%
is about how much more the same coverage costs at 65 than at 55.26
Most
new long-term care coverage is now sold as a hybrid that combines life insurance with long-term care benefits.27
Price and health both set the clock. Coverage is priced on your age when you apply and approved based on your health. 24% of applicants in their 50s were turned down in 2024, rising to 43% at 65 to 69.26
Part 6 · Why people buy
People buy to protect their savings, their independence and their family.
Caring for someone else is often what starts it. In our research, 90% of people have cared for a family member, and 62% are doing it now. Among adults we interviewed about their own planning, caregiving is what moved 80% to start.
Buyers rated each reason separately.25 Two in three bought when they did because they expected coverage to cost more if they waited, and 18% knew someone who had recently needed care.25
“You know it’s going to come at some point, but it just all of a sudden feels urgent to figure things out.”
Part 7 · What worries people most
The biggest fear isn’t the bill. It’s losing control.
Losing independence tops Americans’ worries about aging, ahead of memory loss and cost.12 In our research, staying independent is also the top priority, chosen by 46% of people, well ahead of protecting savings or family (14% each).
Facing it alone weighs heavily, too. 84% worry about having no one to advocate for them if they need care, more than the 71% who worry about paying for it.15 Cost is still the main reason people put off buying: half of non-buyers call it very important.25
Share of all questions opened in our research, Sept–Oct 2026.
What it means
Five takeaways for anyone planning to age at home.
Start in your 40s or 50s.
Most buyers buy before 65, and every year adds to the price and to the share of applicants turned down.26
Plan for home, on purpose.
Most people want to age at home. A plan that pays for help at home is what makes that possible.
Don’t count on Medicare or Medicaid.
Medicare doesn’t cover custodial care,16 and Medicaid generally requires spending down to about $2,000.18
Keep your family as family.
A funded plan means the people you love can visit, not take on a second job as your caregiver.
Put your wishes in writing.
Name who will speak for you and how you want to be cared for, while it’s your choice to make.
Read the guide for your decade
Talk with an expert
Turn your plan into protection.
Talk with a licensed Staying Power advisor about what coverage would look like for you, while your age and health are on your side.
Bring your partner.
Most people we talk to decide together. Your partner is welcome on the call.
Leave with it in writing.
A plain side-by-side of what you pay, what is guaranteed and what is projected.
Costs where you live.
Care prices for your area, not national averages.
No hard sell.
One licensed advisor, no pressure to decide on the call.