Colorado long-term care insurance: cost & coverage

Who regulates long-term care insurance in Colorado

Long-term care insurance policies sold in Colorado are regulated by the Colorado Division of Insurance. If you have a complaint about an agent, carrier, or policy, you can file it with the regulator directly.

What long-term care costs in Colorado

Median assisted living cost in Colorado vs. the national median:

Source: SeniorLiving.org median assisted living costs, 2026. See costs for all 50 states for the full table.

What each type of care costs in Colorado

Assisted living is only one of the settings people use. Median monthly costs across the main care types in Colorado:

Source: SeniorLiving.org Cost of Care Research (2026)

Colorado's LTC Partnership program

Colorado has an active LTC Partnership program. Colorado has an active Long-Term Care Partnership Program providing dollar-for-dollar Medicaid asset protection for qualified policies.

A Partnership-qualified policy lets you keep an extra dollar of assets, protected from Medicaid spend-down, for every dollar your policy pays out in benefits — see the note above for this state's current status. Learn more about how Partnership programs work.

How Colorado treats LTC premiums at tax time

Colorado gives a tax credit for long-term care insurance, not a deduction. A Colorado resident who buys or pays premiums on a qualifying policy for themselves or a spouse may claim 25% of what they paid during the year, capped at $150 per policy. The credit is allowed only if federal taxable income stays under $50,000 for a single filer — or for a joint return claiming one policy — and under $100,000 for a joint return claiming two policies. A joint return may claim no more than two policies. The credit cannot exceed your Colorado tax liability, and any unused portion is neither refunded nor carried forward. Claim it on the Individual Credit Schedule (DR 0104CR) with a year-end premium statement.

Source: Colorado Department of Revenue (2024)

This is general information, not tax advice. Confirm your own situation with a tax professional licensed in Colorado.

Medicaid long-term care in Colorado

Colorado's Medicaid program is called Health First Colorado and is run by the Department of Health Care Policy and Financing. Long-term care eligibility is financial as well as medical. Under the Elderly, Blind and Disabled waiver — the main route to in-home and community long-term care for older Coloradans — monthly income must be less than three times the federal SSI limit, and countable resources must be under $2,000 for a single applicant or $3,000 for a couple. The applicant must also need care at a level comparable to a nursing facility. People who miss those financial limits may still qualify through the Health First Colorado Buy-In Program for Working Adults with Disabilities. Applications start with a local Case Management Agency.

Source: Colorado Department of Health Care Policy and Financing (2026)

How to compare quotes in Colorado

• Confirm any agent or carrier you talk to is currently licensed to sell in Colorado — the Colorado Division of Insurance can confirm licensing status.
• Ask which products a carrier is actively writing in Colorado today — availability changes state by state and year to year. See carriers we compare.
• If a Partnership-qualified policy matters to you, confirm with the carrier or agent whether a policy is currently certified as Partnership-qualified in Colorado — see this state's Partnership status above.
• Compare traditional and hybrid options side by side — see traditional vs. hybrid coverage.
• Get quotes from more than one carrier; pricing for the same coverage can vary significantly.

Please note: Regulator names, complaint channels, and Partnership-program status can change. Confirm current details with the Colorado Division of Insurance or a licensed agent before making any decision. LongTermCareInsurance411 is not a government agency and does not administer Colorado's insurance regulations or Medicaid program.

Last updated: August 22, 2026