Insights into the U.S. Long-term Care Private Insurance Market
The U.S. long‑term care private insurance market was valued at USD 9.13 billion in 2022 and is expected to reach USD 14.37 billion by 2030. This represents a compound annual growth rate (CAGR) of 5.84 percent between 2023 and 2030. Growth is fueled by an aging population, rising long‑term care costs, and greater consumer awareness of care options, alongside shifting family structures and demographic trends. Drivers of Growth: An increasing number of individuals recognize the risks and limitations of institutional care and are seeking policies that cover home‑based services and alternative care settings. In response, providers have revised policy terms to extend home‑care coverage, clarify protection against infectious diseases, and integrate telehealth services—changes accelerated by lessons learned during the COVID‑19 pandemic. Consumer Awareness and Enrollment Trends: Heightened awareness is a key contributor to market expansion. In 2021, new individual long‑term ...