Long-Term Care Cost Calculator
Last updated July 2, 2026
Long-term care costs encompass the full spectrum of support services — home care, adult day programs, assisted living, memory care, and nursing home care — that people need when they can no longer perform basic activities of daily living independently. The financial planning challenge is that most people will need some form of long-term care, the duration is unpredictable, and the cost is substantial. The U.S. Department of Health and Human Services estimates that about 70 percent of people turning 65 today will need some form of long-term care in their lifetime. The average duration of care is approximately three years, but roughly 20 percent of people will need care for five years or more — a scenario that can cost $500,000 to $1 million or more in total.
The financial tools available to fund long-term care have expanded beyond traditional long-term care insurance, which became less attractive as premiums rose dramatically over the past decade. Hybrid life insurance policies that include a long-term care benefit have gained traction, providing a death benefit if the care isn't needed and a care benefit if it is. Health savings accounts can be used to pay for long-term care insurance premiums. Medicaid remains the primary public payer for nursing home care, covering nearly half of all nursing home costs nationally, but qualifying requires spending down to low asset levels in most states. The critical planning implication is simple: long-term care is a major financial risk that affects most families and is rarely adequately planned for.
Estimate your potential long-term care exposure by multiplying the likely care duration (two to five years as a planning range) by the cost of care at the most likely care level in your area. That total is the financial risk you're either insuring against, self-funding from assets, or leaving to chance. Addressing it at 55 to 60 costs a fraction of what addressing it at 70 does, because insurance is still affordable and underwriting requirements are more easily met.