Long-Term Care Cost Calculator
Plan for future long-term care expenses with our comprehensive cost calculator. Estimate costs for home care, assisted living, memory care, and skilled nursing facilities with inflation projections. Calculate insurance coverage gaps and determine how much you need to save for comprehensive long-term care planning in your retirement strategy.
Calculate Long-Term Care Costs
How to Use This Calculator
- Enter Personal Information: Input your age, gender, and location to determine baseline care cost projections and regional variations.
- Plan Care Preferences: Select your expected care start age, duration, and preferred care type to customize cost calculations.
- Add Insurance Details: Include any existing long-term care insurance coverage to calculate gaps and out-of-pocket expenses.
- Review Analysis: Examine total costs, insurance coverage, savings requirements, and planning recommendations for comprehensive care planning.
Understanding Long-Term Care Costs
Long-term care costs vary significantly by type of care, location, and duration of need. Home health care typically costs $25-35 per hour, while assisted living averages $4,000-6,000 monthly. Skilled nursing facilities can cost $8,000-12,000 per month or more in high-cost areas. Healthcare inflation typically outpaces general inflation, making early planning essential.
Most people will need some form of long-term care during their lifetime, with women typically requiring care longer than men. Planning for these costs should be part of your overall retirement strategy, whether through insurance, dedicated savings, or a combination of approaches. Consider your family history, health status, and available support systems when estimating your potential care needs.
Frequently Asked Questions (FAQ)
FAQ Index
In 2025, average costs vary by care type and location: home health aide ($65/hour), assisted living ($4,800/month), memory care ($6,200/month), and skilled nursing facility ($9,200/month for private room). Costs vary significantly by geographic region.
Financial planners typically recommend budgeting $300,000-$500,000 for long-term care costs, though actual needs vary widely. Consider care type, duration, location, and inflation when planning. Long-term care insurance can help cover these expenses.
Key factors include: geographic location, type of care needed, level of care required, facility amenities, duration of care, and inflation. Urban areas typically cost more than rural locations. Memory care and skilled nursing are generally more expensive than home care or assisted living.
Long-term care insurance can be valuable if you have significant assets to protect but not enough to self-insure. Consider your health status, family history, assets, and income when deciding. Purchase while healthy and younger for better rates.
Medicare covers very limited long-term care services. It pays for short-term skilled nursing care (up to 100 days) and some home health services, but only after a qualifying hospital stay and when you need skilled medical care. Medicare does not cover custodial care, which makes up most long-term care needs, including help with daily activities like bathing, dressing, and eating.
Medicaid is the largest payer of long-term care services in the US, but eligibility requires meeting strict income and asset limits. To qualify, you typically must have minimal assets (around $2,000 for individuals) and limited income. Many people spend down their assets to qualify for Medicaid coverage. Planning strategies like Medicaid trusts can help protect some assets, but must be done well in advance due to look-back periods.