Long-Term Care Insurance in Maryland: Costs, Options & Free Quotes
A retired federal employee from Bethesda called me last month. He had $500,000 saved for retirement. His wife needed memory care. The monthly bill: $11,000. Within two years, half his savings was gone. He asked me: “I thought Medicare covered this. Why didn’t anyone tell me?” He is not alone. Maryland nursing home costs top $130,000 per year. Here is everything you need to know to protect your retirement in the Old Line State.
What Long-Term Care Actually Costs in Maryland
Maryland is one of the most expensive states for long-term care. Here is what you can expect to pay.
| Care Type | Maryland Monthly | Maryland Annual |
|---|---|---|
| Nursing Home (Private) | $11,000 โ $14,000 | $132,000 โ $168,000 |
| Nursing Home (Semi-Private) | $9,800 โ $12,500 | $117,600 โ $150,000 |
| Assisted Living | $5,500 โ $8,500 | $66,000 โ $102,000 |
| Home Health Aide | $5,500 โ $7,200 | $66,000 โ $86,400 |
| Memory Care | $6,500 โ $10,000+ | $78,000 โ $120,000+ |
โ ๏ธ The hard truth: A 3-year nursing home stay in Maryland costs $400,000 to $500,000. In Montgomery County, a private room can exceed $170,000 per year. Without LTC insurance, your retirement savings are at serious risk.
Why Maryland Families Need to Protect Their Retirement
Maryland has some of the highest healthcare costs in the nation. Your retirement savings could disappear in just a few years.
๐ The “Silent Predator”
- Maryland is among the most expensive states for long-term care
- Medicare does NOT cover long-term care โ it only covers short-term skilled care
- Medicaid requires you to spend down to $2,000 in assets before it pays
- 70% of people over 65 will need some form of long-term care
- Many families lose everything โ homes, savings, and legacies disappear to care costs
๐ Maryland County Breakdown
- Montgomery County: $12,500 โ $15,500/month for nursing home
- Prince George’s County: $11,500 โ $14,000/month
- Baltimore Metro: $11,000 โ $13,500/month
- Howard County: $11,000 โ $13,500/month
- Carroll County: $10,000 โ $13,000/month
Without LTC insurance, your savings could be spent down to Medicaid levels.
Long-Term Care Payment Options: Which One Fits Your Budget?
We can navigate through different long-term care packages including monthly pay, single premium, 10-pay, pay-to-95, and more.
| Payment Option | How It Works | Best For |
|---|---|---|
| Monthly Pay | Pay premiums monthly for the life of the policy | People who prefer lower upfront costs |
| Single Premium | One lump sum payment โ fully funded immediately | People with retirement savings or IRA funds |
| 10-Pay | Pay premiums over 10 years, then policy is fully paid | People who want to fund quickly but not all at once |
| Pay-to-95 | Pay premiums annually until age 95 | People who want to spread payments over time |
| IRA/Qualified Funds | Use pre-tax retirement dollars via tax-free rollover | People with significant IRA or 401(k) balances |
๐ How It Works: A Maryland Couple, Age 55
Option A: Monthly Pay โ $500/month for life
Option B: Single Premium โ $135,142 one-time payment (funded from IRA)
Option C: 10-Pay โ $22,481/year for 10 years
Which is best? It depends on your financial situation, cash flow, and goals. I’ll help you compare and choose.
OneAmerica Asset Care: The Gold Standard in Hybrid LTC
OneAmerica Asset Care is the original hybrid LTC policy, combining long-term care benefits with a tax-free death benefit. It is available in Maryland.
๐ Why Asset Care Stands Alone
- Unlimited lifetime benefits โ the only hybrid policy with this feature
- A.M. Best A+ (Superior) โ held for 74 consecutive years
- Joint coverage โ one policy covers both spouses
- IRA funding โ tax-free rollover from qualified accounts
- Guaranteed level premiums โ never increase
- Death benefit โ if you never need care, your heirs receive the full death benefit tax-free
๐ Example: Maryland Couple, Age 55
- Single premium: $135,142 (funded from IRA โ 25% bonus)
- LTC benefit: $6,000/month each, lifetime
- Death benefit: $200,000+ tax-free to heirs
- Tax impact: $0 โ tax-free transfer
No money is ever wasted. Either you get care, or your family gets a legacy.
โ I’ll help you understand the benefits of each option. Whether you choose traditional LTC or a hybrid policy, I’ll walk you through the details and answer every question.
Why Dan Walsh for Maryland LTC Planning?
I was born at Holy Cross Hospital in Silver Spring, MD. I am a father of four โ three daughters and a son. I have been helping Maryland families protect their retirement since 1997.
๐ A Father First
I am a dad of three daughters and a son. I understand what it means to protect a family. When you work with me, you get my full attention and care. I want to understand your situation โ both financially and forward-thinking.
I treat every client like family.
๐ 28+ Years of Experience
I have been helping clients since 1997. I specialize in LTC insurance, hybrid policies, and retirement planning. I am licensed in Maryland, Virginia, DC, Florida, and all 50 states.
๐ Born and Raised in Maryland
I was born at Holy Cross Hospital in Silver Spring. I attended Saint Andrews the Apostle School, St. John the Evangelist School, Our Lady of Good Counsel High School, and graduated from the Smith School of Business at the University of Maryland.
๐ I Answer My Own Phone
No call centers. No junior agents. When you call me, you get a father who understands what’s at stake. ๐ (301) 569-2224
๐ What You Get From Me
- My full attention and care โ I treat every client like family
- A deep understanding of your situation โ both financially and forward-thinking
- Expert navigation โ through different LTC packages including monthly pay, single premium, 10-pay, pay-to-95, and more
- Honest advice โ no pressure, just what’s best for you
Frequently Asked Questions About Maryland LTC Insurance
How much does long-term care cost in Maryland? โผ
What are the different ways to pay for long-term care insurance? โผ
Does Medicare cover long-term care in Maryland? โผ
What is a hybrid LTC policy? โผ
Can I use my IRA to pay for LTC insurance? โผ
How do I get a long-term care insurance quote in Maryland? โผ
Dan Walsh | NPN 3028543 | Born at Holy Cross Hospital, Silver Spring, MD
I was born at Holy Cross Hospital in Silver Spring, MD. I attended Saint Andrews the Apostle School, St. John the Evangelist School, Our Lady of Good Counsel High School, and graduated from the Smith School of Business at the University of Maryland.
I am a father of three daughters and a son. I understand what it means to protect a family. When you work with me, you get my full attention and care. I want to understand your situation โ both financially and forward-thinking. We can navigate through different long-term care packages including monthly pay, single premium, 10-pay, pay-to-95, and more.
I answer my own phone. No call centers. No junior agents.
๐ (301) 569-2224 | โ๏ธ dwalsh@mdlifeins.com | Licensed in Maryland and all 50 states
Dan Walsh | Licensed Insurance Agent | Maryland LTC Specialist
NPN: 3028543 | MD Life Insurance | Since 1997 | Google Verified
๐ Born at Holy Cross, Silver Spring
๐ Good Counsel โ UMD Smith School
๐จโ๐งโ๐งโ๐ฆ Father of Four
๐ (301) 569-2224
Specializing in hybrid long-term care insurance, OneAmerica Asset Care, and retirement protection for Maryland families. Licensed in all 50 states.
CTA: /care โ Free LTC Quote | /oa โ OneAmerica Asset Care
๐๏ธ Ready to Protect Your Maryland Retirement?
I’ll help you navigate through different long-term care packages including monthly pay, single premium, 10-pay, pay-to-95, and more. No obligation. Just honest advice from a father who understands what’s at stake.
๐ง dwalsh@mdlifeins.com | NPN 3028543 | Since 1997 | Licensed in Maryland and all 50 states