Long-Term Care Cost Calculator
Enter your current age, when you expect to need care, and which type of care you plan to use. The calculator projects what that care will cost in future dollars using LTC-specific inflation, shows how far your dedicated savings will stretch, and estimates the gap you need to fill. Switch between care types and regions to compare scenarios instantly.
How long-term care costs are projected
Long-term care cost projection has three moving parts: the base cost of care today, LTC-specific inflation, and the time until care begins. National median daily rates come from the Genworth Cost of Care Survey, the most comprehensive annual survey of care prices in the United States. Those rates are adjusted by a regional multiplier because care costs vary considerably by geography - Alaska and Hawaii run about 40% above the national median while the Southeast runs about 15% below it. The adjusted daily cost is converted to a monthly figure and then compounded forward using your chosen LTC inflation rate. Long-term care prices have historically grown faster than general consumer price inflation, at roughly 3-5% per year, driven by healthcare wages, regulatory requirements, and an ageing population.
Self-insuring versus buying LTC insurance
Self-insuring means setting aside enough savings to pay directly for care, which avoids insurance premiums but requires discipline and exposes you to the tail risk of needing much more care than average. LTC insurance transfers that longevity risk to an insurer for a premium, but policies are increasingly expensive to obtain after age 60, and some insurers have left the market or raised premiums sharply on existing policies. A middle path is a hybrid life/LTC policy, which combines permanent life insurance with an accelerated long-term care benefit - you or your heirs receive value regardless of whether you need care. The coverage gap this calculator estimates is the starting point for that conversation. If your fund already covers 100% of projected costs you may not need insurance; if it covers 30% you likely need either more savings, a policy, or both.
How the savings projection works
The calculator grows your current LTC savings as a lump sum and your monthly contributions as an ordinary annuity, both at your chosen annual investment return. This gives the fund balance you will have available at the care-start age. That balance is then compared to the total future-dollar cost over your expected care duration. The extra monthly savings figure uses the same annuity formula in reverse: given the gap you need to close and the years remaining, what constant monthly contribution would exactly close it at the chosen return rate? This is the minimum additional saving needed - any existing surplus reduces it to zero.
Who pays for long-term care?
Most Americans assume Medicare covers long-term care, but standard Medicare pays for skilled nursing only after a qualifying 3-day hospital stay and only for up to 100 days, after which costs fall entirely on the individual. Medicaid does cover long-term care for people who meet income and asset tests, but qualifying requires spending down most personal assets first, which eliminates any legacy you planned to leave. Private savings, LTC insurance, family support, and home equity (through a reverse mortgage) are the main alternatives. Veterans may qualify for VA Aid and Attendance benefits. The average person needs about three years of care; 20% need more than five years. Planning for at least three years while acknowledging the tail risk of a longer need is a reasonable starting point for most people.
2026 National Median Long-Term Care Costs
| Care Type | Daily | Monthly | Annually |
|---|---|---|---|
| Nursing home - private room | $357 | $10,963 | $130,491 |
| Nursing home - semi-private | $294 | $9,028 | $107,469 |
| Memory care unit | $190 | $5,797 | $68,417 |
| Home health aide | $188 | $5,746 | $68,401 |
| Assisted living facility | $164 | $5,069 | $60,358 |
| Adult day care centre | $62 | $1,955 | $23,293 |
Source: Genworth Cost of Care Survey and LTC News, national median daily rates.
Frequently asked questions
What is the average cost of long-term care in the US?
Based on the 2026 Genworth Cost of Care Survey and LTC News data, the national median is approximately $357 per day ($10,963 per month) for a private nursing home room, $164 per day ($5,069 per month) for assisted living, and $188 per day ($5,746 per month) for a home health aide. Costs vary significantly by region: the Northeast and West Coast run 15-25% above the national median, while the Southeast and Midwest are 10-15% below it.
How long does the average person need long-term care?
The U.S. Department of Health and Human Services estimates the average person who turns 65 today will need about 3 years of long-term care. Women average 3.7 years and men 2.2 years. About 20% of people will need more than 5 years of care. The calculator defaults to 3 years, but you can adjust this based on your family history, health, and risk tolerance.
Does Medicare cover long-term care?
Standard Medicare covers skilled nursing care only after a qualifying hospital stay of at least 3 days, and only for up to 100 days (the first 20 are fully covered; days 21-100 require a daily copay). Medicare does not cover custodial care - help with bathing, dressing, eating, or other daily activities - which is the majority of long-term care. Medicaid covers long-term care but generally requires meeting strict income and asset limits.
What inflation rate should I use for long-term care?
Long-term care costs have grown at roughly 3-5% per year historically, faster than general CPI inflation. Nursing home and assisted living costs have been growing at about 3-4% annually in recent years, while skilled home care has grown faster due to staffing shortages. The calculator defaults to 3.5%. For conservative planning, use 4-5%; for optimistic planning, use 2.5-3%.
At what age should I start planning for long-term care?
Financial planners typically recommend starting to plan in your 50s. LTC insurance is most affordable when purchased between ages 50 and 60 - waiting until 65 or later means substantially higher premiums, and after 70 you may be denied coverage altogether due to health conditions. From a savings perspective, starting contributions in your 50s gives your fund at least 20-25 years to compound, which dramatically reduces the monthly amount required.
What is the coverage gap and how do I close it?
The coverage gap is the difference between your projected total care cost and your projected LTC fund. If positive, you have a shortfall; if negative, your savings would cover the full cost with some left over. You can close a gap by: increasing your monthly savings (the calculator shows you the exact additional amount needed), purchasing an LTC or hybrid life/LTC insurance policy, using home equity via a reverse mortgage, or planning for Medicaid as a last-resort safety net.