North Carolina Seeing Increasing Demand and Growing Cost for LTC

Read Time: 3:50
Published: Jun 10th, 2021
North Carolina Seeing Growing Cost for LTC

North Carolina has become a destination state attracting people from other parts of the country for the weather, affordable home prices, and much more. North Carolina was the ninth largest state in the 2020 census, up from 10th a decade ago. 

No doubt North Carolina is a popular place to live. Low cost of living, major population centers with top medical services, with breathtaking mountain views, and beautiful coastlines that are easy on the eyes. Plus, the state has culture, history, professional and college sports, and great weather.

The state is also a growing retirement location for many people, and the demographics point to that fact. Over 30% of North Carolina's population is aged 55 and over. The next group, ages 35 to 54, represents 25.25% of the population. Only 22.77% of the state's population falls into adults 18.34. 

The data suggests a population getting older and not many younger people to fill the caregiving role for all those who will need long-term health care in the decades ahead.

Care Providers Preparing for Increasing Demand

Amada Senior Care is one of the leading in-home health agencies in the country. Like most long-term care providers, they are preparing for the greater demand for services. 

Traci Bissett, who runs Amada Senior Care for Eastern North Carolina says the state is definitely getting older. She points out to the migration of many people, especially seniors, from other states. Bissett says that the number of North Carolinians over age 65 is expected to increase by 61% by the year 2038.

Traci Bissett

"As the demand for long-term health care grows, the cost of care will also grow. When working with the families of our senior clients, we see their shocked reaction to the cost of care. We hope to educate family members to use this experience to prepare for their long-term care expenses," Bissett explained.

According to the LTC NEWS Cost of Care Calculator, the state median cost of home health care services now averages $3,995 a month based on a 44 hour week. By the year 2041, the average median cost is expected to be $7,432 a month.

Brad and Gwen Smith, from Amada's Charlotte office, anticipate long-term health care costs and demand will increase significantly over the next several years.

Brad and Gwen Smith

"Here in Charlotte, many home care agencies have a waiting list for client start dates because there are more care needs than there are care providers. Although our prices have remained steady, we have seen our competitors raise their rates for care over the past year, they said.

The aging population will also put additional demand for adult day care centers, assisted living facilities, memory care facilities, and nursing homes. The costs will reflect the rising demand for services.

For example, according to the LTC NEWS Cost of Care Calculator, the average base cost of an assisted living facility in Greensboro, NC, runs $4,883 a month. Additional charges will be assessed based on the number of services a person may require. However, by the year 2041, this average base cost is expected to run $9,636 a month. These costs would significantly impact the finances of families unprepared for long-term care.

Location Makes a Big Difference in Care Costs

However, location makes a big difference. The average cost in Rocky Mount, NC, is much lower. You see the same for other long-term care services. If you are thinking of relocating, one of the considerations should be the cost of long-term care and your resources to pay for these costs.

North Carolina is one of 45 states that offer Partnership Long-Term Care Insurance policies that offer dollar-for-dollar asset protection. North Carolina reciprocates with other states, so North Carolina will honor the additional asset protection if you already have a Partnership LTC policy from another state. 

The best time to obtain Long-Term Care Insurance coverage is when you are in your 40s or 50s. No matter the age, your relatively good health today gives you the ability to get a policy as policies are medically underwritten.

LTC Insurance Helps but Premiums Vary Over 100% Between Companies

Keep in mind that premiums can vary over 100% between insurance companies. Be sure to seek the help of a licensed and experienced LTC Insurance specialist to help you navigate the many companies and options that are available. Find a trusted and qualified specialist by clicking here.

Aging is happening everywhere, not just in North Carolina. Many people, as they approach retirement, start looking to relocate. North Carolina is one of the more popular destinations. No matter where you live, planning for the future changes in your health, body, and mind is a critical part of a retirement plan.

About the Author

Linda is a freelance writer interested in retirement planning, health and aging.

Editor's Note

Aging is happening throughout the United States. There is a growing demand for long-term care services and few younger people to provide those services. Family members are unable to easily provide care for their parents as they must deal with their careers and family responsibilities. 

Quality care is a concern for both the care recipient and the family. Long-Term Care Insurance gives you the guaranteed tax-free resources to pay for your choice of quality care either at home or in a facility. However, you must get your coverage in place when your health is relatively good, and premiums are low - the best time is when you are in your 40s or 50s.

Research Tools Available on LTC NEWS

LTC NEWS offers multiple tools and resources to help you research the financial costs and burdens of aging so you can find an affordable solution. 

Find all the resources on LTC NEWS by clicking here. Start your research with The Ultimate Long-Term Care Guide from LTC NEWS.

Become a Guest Contributor for LTC NEWS

You can write for LTC NEWS. Gain exposure for yourself, drive traffic to your website or blog, and improve your SEO.

LTC NEWS offers many resources to help families address the consequences of long-term care, aging, health, caregiving, and other retirement issues. You can be part of the effort to help educate consumers throughout the U.S. and around the world.

Write a story for publication on LTC NEWS and let America hear what you have to say. Be sure your article fits the LTC NEWS target audience of adults 40-70.

Topics can include stories on:

  • Aging
  • Caregiving
  • Health
  • Long-Term Care
  • Retirement Planning

There are numerous other related topics, as well. You can even promote yourself, your business, and your website or blog. It must have editorial content exclusive for LTC NEWS and cannot be just an advertisement. It can include links to other sites, and you can share the article link once published on your website or social media.

Email your story idea or article: newsroom@ltcnews.com or click here

Share News with LTC NEWS

Include LTC NEWS in your press release distribution. If your group, organization, business, political committee, etc., have news to share, send it to LTC NEWS. Email -  newsroom@ltcnews.com 

Advertising and Marketing Opportunities on LTC NEWS

You can write for LTC NEWS. Gain exposure for yourself, drive traffic to your website or blog and improve your SEO.

Reach an educated audience. Readers of LTC NEWS are researching retirement issues, including aging, health, caregiving, and long-term care. Other readers seek information for a parent or other loved one who is experiencing declining health or aging issues and require extended care.   

Many marketing opportunities are available, including sponsored content articles. Sponsored content offers you a long-form way to sell yourself, your company, and your ideas.

Learn more about how LTC NEWS can help you market your business, drive traffic, and improve SEO - click here.

LTC News Contributor Linda Kople
Linda Kople

Contributor Since
October 31st, 2017

Freelance writer interested in retirement planning, health and aging.

About the Author

Linda is a freelance writer interested in retirement planning, health and aging.

Work With a Long-Term Care Specialist
Work With a Trusted Long-Term Care Insurance Specialist
  • Has substantial experience in Long-Term Care Insurance
  • A Strong understanding in underwriting, policy design, and claims experience.
  • Represents all or most of all the leading insurance companies.
Find a Trusted Specialist
Table of Contents
Connect With a Long-Term Care Specialist

Find Affordable Insurance and the Right Coverage.

LTC News Trusted & Verified
Learn More
Search Results