At 80, the cost, if you could find a policy would be prohibitive. Your best bet, if you can afford it would be to take the cost of a policy and put it in an account and use that if and when you need it. I would spend some time with an Elder Care Attorney and make sure that all your wishes are in writing, you have a POA for Health and Finances named. You have any assets you might have set up so that if a Memory Care or Skilled Nursing facility is needed you can get the best care that you can afford. Make sure that the facility that you select accepts Medicaid so that when your funds run out you can remain.
"At What Age Can You No Longer Buy Life Insurance? 90 years old is the highest issue age we've seen from any life insurance company. But many companies won't issue policies to people older than 85."
"Is There an Upper Age Limit To Buy Long-Term Care Insurance? Technically, there is no age limit to buy long-term care (LTC). It's sometimes possible to get this insurance even after age 75, if you are in relatively good health, only take prescriptions for common conditions like blood pressure and cholesterol, meet the height-to-weight standards, etc. It's not very likely an applicant over 85, one who already needs assistance with daily activities, or is receiving Social Security would be granted LTC insurance."
No. At 80 I doubt anyone would sell it to you and it would not be affordable. Certainly feel free to explore that, but don't buy a policy until it is well checked out by someone truly in the know. You can't afford to be scammed now by someone taking advantage of you. These policies are difficult enough for a young and very up on it person to interpret, and they are dangerous to get roped into when you don't know the facts.
It is expensive to begin with, let alone at 80, even if you can get the coverage, IMO it would not be an option for me.
Your best bet, if you can afford it would be to take the cost of a policy and put it in an account and use that if and when you need it.
I would spend some time with an Elder Care Attorney and make sure that all your wishes are in writing, you have a POA for Health and Finances named. You have any assets you might have set up so that if a Memory Care or Skilled Nursing facility is needed you can get the best care that you can afford. Make sure that the facility that you select accepts Medicaid so that when your funds run out you can remain.
Source: https://www.lawforseniors.org/topics/health-and-benefits/health-insurance/should-you-invest-in-long-term-care-insurance-the-pros-cons#:~:text=The%20Arguments%20Against%20Long%20Term%20Care%20Insurance&text=LTCI%20is%20relatively%20expensive%20for,That%20argument%20may%20be%20true.
"Is There an Upper Age Limit To Buy Long-Term Care Insurance?
Technically, there is no age limit to buy long-term care (LTC). It's sometimes possible to get this insurance even after age 75, if you are in relatively good health, only take prescriptions for common conditions like blood pressure and cholesterol, meet the height-to-weight standards, etc. It's not very likely an applicant over 85, one who already needs assistance with daily activities, or is receiving Social Security would be granted LTC insurance."
Source: https://www.investopedia.com/articles/personal-finance/052014/whats-best-time-get-longterm-care-insurance.asp
I think the monthly premium at your age would unaffordable.