Estimate what home care, assisted living or a nursing home could cost by the time you might need it. Enter today's local prices, when care might start and for how long to see the total future cost, the savings needed at that point and a monthly savings target.
Last updated:
Timing
years
years
years
Cost today
$
hrs
$
$
Semi-private rooms usually cost less than private.
Assumptions and coverage
%
Care costs have often risen faster than general inflation.
%
$
Long-term care insurance benefit or income set aside for care.
$
Enter your values to see the result.
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How to use the Long-Term Care Cost Calculator
Enter your age, the age care might start and how many years to plan for.
Choose the type of care and enter today's local price (hourly, monthly or daily).
Set care-cost inflation and a return on your savings.
Add any insurance benefit or savings already set aside.
Read the savings needed at care start and the monthly saving target.
How the long-term care estimate works
The calculator converts today's price into a yearly cost, grows it with care-cost inflation until care starts, then adds up each year of care. It subtracts any monthly coverage and discounts the remaining costs back to the start of care to find the savings needed.
Cost in care year k = annual cost today × (1 + inflation)years until care + k Savings needed at care start = Σ (cost − coverage) ÷ (1 + return)k
Example: assisted living at $5,900 a month is $70,800 a year today. At 4% inflation, care starting in 25 years costs about $189,000 in its first year, and three years total roughly $589,000. With a 5% return on the money while it is spent, about $561,000 is needed when care begins.
Typical ways to price each type of care
Type of care
How it is usually priced
Example rate
Approximate yearly cost
Home care aide, 44 h/week
Per hour
$35/hour
$80,080
Home care aide, 20 h/week
Per hour
$35/hour
$36,400
Assisted living
Per month
$5,900/month
$70,800
Nursing home, semi-private room
Per day
$305/day
$111,325
Nursing home, private room
Per day
$350/day
$127,750
Example rates are rounded and roughly in line with recent US national median survey figures; prices in many cities and states are far higher or lower, so replace them with local quotes.
Ways to pay for long-term care
Personal savings and retirement income, including home equity.
Long-term care insurance or life insurance with a long-term care rider, which pays a daily or monthly benefit after an elimination period.
Medicaid, for people who meet income and asset limits; rules differ by state.
Veterans' benefits for eligible veterans and surviving spouses.
Family caregiving, which lowers paid hours but has its own costs in time and income.
Frequently asked questions
How much does long-term care cost?
It depends heavily on the type of care and where you live. As a rough guide, recent US national surveys put median prices at around $35 an hour for a home health aide, about $5,900 a month for assisted living and roughly $300 to $350 a day for a nursing home room. Use local quotes for the best estimate.
How is the future cost calculated?
Each year's cost is today's annual cost × (1 + inflation)^(years from now). For example, $70,800 a year of assisted living growing 4% a year for 25 years becomes about $189,000 in the first year of care.
What inflation rate should I use for care costs?
Care prices are driven by wages and staffing, and have often risen faster than general inflation. Planners commonly test 3% to 5%. Try a few values to see how sensitive your plan is.
What does 'savings needed when care starts' mean?
It is the lump sum that, invested at your chosen return when care begins, would pay every year's uncovered cost until the care period ends. It is less than the simple total because the money keeps earning while it is spent.
Does Medicare pay for long-term care?
Medicare generally does not cover long-term custodial care such as help with bathing or dressing. It may cover a limited stay in a skilled nursing facility after a qualifying hospital stay. Medicaid can pay for long-term care for people who meet its income and asset rules.
How many years of care should I plan for?
Needs vary widely: some people need little or no paid care while others need several years. Many planners model two to five years and test a longer period as a stress test.
Are all the tools on FreeToolCabin tested for quality and accuracy?
Yes! Every tool on our site undergoes automated Q/A testing in real browser environments to ensure high precision, correct output, and zero errors. If you happen to spot a bug or have a suggestion, please contact us at [email protected] and our team will review it right away.