Long-Term Care Cost Calculator
What will long-term care cost in the future?
For life insurance producers, this is the long-term care conversation that opens hybrid life-LTC and LTC-rider planning. It projects the future cost of care by inflating today's cost to the year care is likely needed, then totaling it across the expected duration. It starts from cited national median costs you can override with a local figure, and compares the total to savings set aside. Enter the details below to see the projected cost and the gap.
Educational projection only, not financial or insurance advice. Costs vary by state, facility, and care level; medians are national. Kadence does not provide financial advice.
How the projection works
Start from a real median cost
Each care type is prefilled with its 2024 national median annual cost from the Genworth/CareScout Cost of Care Survey. Because costs vary widely by state and facility, the field is editable: enter a local quote when you have one for a sharper estimate.
Inflate to the year care begins
The calculator grows today's cost by the inflation rate for the number of years until care is needed. A cost decades away can be far higher than today's sticker, which is exactly why planning early matters and why the projection is more honest than a present-day figure.
Total across the care years and compare to savings
It then sums the inflated cost across the expected duration of care and subtracts the savings earmarked for it. The remaining gap is what a long-term care or hybrid policy would need to cover, which is where the planning conversation begins.
Sources
- National median care costs (2024): Genworth and CareScout, Cost of Care Survey 2024. Genworth press release.
- 3% inflation default: Genworth/CareScout project future costs at 3% annual growth, and the American Association for Long-Term Care Insurance notes 3% inflation options on policies. AALTCI 2024 statistics.
Frequently asked questions
How much does long-term care cost?
Costs vary by care type and location. Per the Genworth/CareScout Cost of Care Survey 2024, national median annual costs range from about $70,800 for assisted living to $127,750 for a private nursing home room. This calculator uses those medians as editable defaults and projects them forward with inflation.
What inflation rate should I use for care costs?
A 3 percent annual rate is a common default: Genworth and CareScout project future care costs at 3 percent growth, and many long-term care insurance policies offer a 3 percent inflation option. Care costs have sometimes risen faster, so the field is adjustable. Raising it meaningfully increases the projected total.
Why project the cost instead of using today’s number?
Care is often needed years or decades away, and costs compound with inflation the whole time. A need that looks affordable at today’s price can be far larger by the time it arrives, then keeps rising during the care years. Projecting the cost forward is what turns an abstract worry into a plannable number.
Is this calculator financial advice?
No. It is an educational projection based on cited median costs and the assumptions you enter. It does not reflect your state, facility, health, or the specifics of any insurance policy. Kadence does not provide financial advice. Confirm any long-term care planning decision with a licensed professional.