# Long-Term Care Cost Calculator

URL: https://speedycalculator.com/calculators/finance/long-term-care/
Last updated: 2026-10-25

> The long-term care calculator estimates the future cost of care – home care, assisted living or a nursing home – from today's cost, the years until care starts, how long care lasts and the rate at which care costs rise.

## Inputs

- Type of care
- Custom yearly cost
- Years until care starts
- Years of care
- Care cost inflation (%)
- Investment return (%)

## Results

- Yearly cost today
- Yearly cost when care starts
- Total cost of care
- Amount to set aside today
- Monthly saving needed until care starts

## Formula

```
Cost when care starts = today's yearly cost × (1 + inflation)^years until care
Total cost = Σ yearly costs over the care period (growing with inflation)
Savings needed today = total cost discounted at your investment return
```

## Explanation

In the U.S. a private nursing home room costs well over $100,000 a year and assisted living around $65,000; costs have risen faster than general inflation. Medicare covers little long-term care, so plan with savings, LTC insurance or Medicaid planning.

### How to use the Long-Term Care Cost Calculator

- **Type of care**
- **Custom yearly cost**
- **Years until care starts**
- **Years of care**
- **Care cost inflation**
- **Investment return**

Results update as you type, and every field accepts the units shown in its menu.

### How it works

Choose the type of care (or enter your own cost), the years until care, the years of care, cost inflation and your investment return.

### Tips

- Use your real spending from bank statements rather than guesses.
- Automate savings so they happen before you spend.
- Revisit your plan once a year or after any big life change.
- Keep an emergency fund before investing for long-term goals.

### Common mistakes to avoid

- Underestimating irregular expenses such as car repairs, gifts and annual bills.
- Ignoring inflation for long-term goals.
- Taking on high-interest debt to fund wants.

### Inputs explained

FieldWhat to enterType of careChoose one: Private nursing home room (≈ $350/day), Semi-private nursing home room (≈ $310/day), Assisted living (≈ $5,900/month), Home health aide, 44 h/week (≈ $6,500/month) …Custom yearly costAmount in your currencyYears until care startsA numberYears of careA numberCare cost inflationIn %Investment returnIn %

### What each result means

- **Yearly cost when care starts** = [Yearly cost today]×(1 + [Care cost inflation]÷100)^[Years until care starts]
- **Amount to set aside today** = gpv([Investment return]÷100, [Years of care], [Yearly cost when care starts], [Care cost inflation]÷100, 1)÷(1 + [Investment return]÷100)^[Years until care starts]

### Example values

How the main result changes when **Custom yearly cost** changes and everything else stays at the example values above:

Custom yearly costTotal cost of care30,000873,785.7345,000873,785.7360,000873,785.7375,000873,785.7390,000873,785.73120,000873,785.73

## Worked example

Inputs — Type of care: Private nursing home room (≈ $350/day); Custom yearly cost: $60,000; Years until care starts: 20; Years of care: 3; Care cost inflation: 4 %; Investment return: 5 %.

Results — Yearly cost today = $127,750.00; Yearly cost when care starts = $279,915.98; **Total cost of care = $873,785.73**; Amount to set aside today = $313,487.53; Monthly saving needed until care starts = $2,023.62.

## FAQ

**How much does long-term care cost?**
Often $70,000–$130,000+ a year depending on the setting and state.

**Does Medicare pay for long-term care?**
Only short skilled-nursing stays; not custodial care.

**How long do people need long-term care?**
On average about 3 years, but many need less and some much more.

**What formula does the Long-Term Care Cost Calculator use?**
Cost when care starts = today's yearly cost × (1 + inflation)^years until care.


## Sources

- [U.S. Administration for Community Living – LongTermCare.gov](https://acl.gov/ltc)