Long-Term Care Cost Calculator

The Long-Term Care Cost Calculator helps you estimate and plan for the costs of different types of long-term care. This tool provides customized cost projections based on your specific needs, location, and financial situation.

Getting Started

1. When you first open the calculator, you'll see the main input form with four care type tabs at the top.

2. The calculator opens with "Nursing Home" selected by default.

3. Fill in the required information in each section.

4. After completing all fields, click the "Calculate Your Long-Term Care Costs" button at the bottom.

Care Type Selection

Select from four different care types by clicking the tabs at the top of the calculator:

• Nursing Home: 24-hour care in a specialized facility

• Assisted Living: Residential care with support services

• Home Care: Professional care provided in your own home

• Adult Day Care: Daytime care services at a dedicated facility

Nursing Home Options

When "Nursing Home" is selected, you will need to specify:

1. Room Type:

   • Semi-Private Room: Shared room with another resident

   • Private Room: Single-occupancy room

   • Deluxe Private Room: Larger private room with premium amenities

2. Level of Care:

   • Basic Care: For residents who need minimal assistance

   • Skilled Nursing Care: For residents needing regular nursing services

   • Intensive Care: For residents with complex medical needs

   • Specialized Care: For residents with specific conditions requiring specialized treatment

3. Additional Services: Check any services you anticipate needing:

   • Rehabilitation Services

   • Medication Management

   • Therapy Services

   • Special Dietary Needs

   • Dementia/Memory Care

   • Palliative Care

Assisted Living Options

When "Assisted Living" is selected, you will need to specify:

1. Apartment Type:

   • Studio

   • One Bedroom

   • Two Bedroom

   • Deluxe Suite

2. Level of Assistance:

   • Minimal Assistance: For residents who are mostly independent

   • Moderate Assistance: For residents needing some help with daily activities

   • Extensive Assistance: For residents needing significant help with daily activities

   • Memory Care: Specialized care for residents with dementia or Alzheimer's

3. Additional Services: Check any services you anticipate needing:

   • Medication Management

   • Transportation Services

   • Housekeeping

   • Laundry Service

   • Social Activities

   • Wellness Program

Home Care Options

When "Home Care" is selected, you will need to specify:

1. Hours Per Day: Use the slider to select how many hours of care you need daily (2-24 hours)

2. Days Per Week: Use the slider to select how many days per week you need care (1-7 days)

3. Caregiver Type:

   • Homemaker/Companion: Provides companionship and helps with household tasks

   • Home Health Aide: Provides basic personal care and simple health monitoring

   • Licensed Practical Nurse (LPN): Provides skilled medical care under supervision

   • Registered Nurse (RN): Provides advanced medical care and assessment

4. Additional Services: Check any services you anticipate needing:

   • Meal Preparation

   • Medication Management

   • Light Housekeeping

   • Transportation

   • Therapy Services

   • Errands & Shopping

Adult Day Care Options

When "Adult Day Care" is selected, you will need to specify:

1. Days Per Week: Use the slider to select how many days per week you need care (1-7 days)

2. Program Type:

   • Social Program: Focuses on social activities and engagement

   • Health Program: Includes additional health monitoring and services

   • Specialized Program: Tailored to specific needs or conditions

   • Dementia Care Program: Specifically designed for people with memory issues

3. Additional Services: Check any services you anticipate needing:

   • Transportation

   • Meals

   • Therapy Services

   • Medication Management

   • Activities Program

   • Nursing Services

Common Settings

These settings apply to all care types:

1. State/Region: Select your location from the dropdown menu

   • This is important as costs vary significantly by location

2. Estimated Duration (years): Use the slider to select how many years you anticipate needing care (1-10 years)

   • The average duration for long-term care is about 3 years

3. Inflation Rate (%): Use the slider to set the expected annual increase in care costs (0-8%)

   • Long-term care costs typically increase 3-5% annually

Insurance & Benefits

Specify any coverage you have or expect to have:

1. Long-Term Care Insurance: Check this if you have LTC insurance

   • If checked, enter your Daily Benefit Amount in dollars

2. Medicaid Eligible: Check this if you are or expect to be eligible for Medicaid

3. VA Benefits: Check this if you receive or expect to receive VA benefits

   • If checked, enter your Monthly Benefit Amount in dollars

Financial Input

Enter your current financial information:

1. Current Monthly Income ($): Your total monthly income from all sources

2. Total Assets ($): The total value of your assets that could be used to pay for care

Results Explained

After clicking "Calculate", you'll see a detailed results section with:

Summary Card

Shows your selected care type, duration, and specific options.

Cost Overview

• Monthly Cost: Current estimated monthly expenses

• Annual Cost: First-year expenses

• Lifetime Cost: Total cost over your specified duration

Cost Breakdown

Detailed breakdown of all costs, including:

• Base care costs

• Additional services

• Total monthly and annual costs

Coverage & Funding

If you specified insurance or benefits:

• Details of each coverage source

• Monthly and annual coverage amounts

• Your out-of-pocket costs after coverage

Cost Projection

A visual chart showing how costs will increase over time due to inflation.

Financial Impact Summary

• Assessment of how your income and assets compare to the projected costs

• Monthly shortfall calculation

• Estimation of how long your assets will last

• The financial gap you may need to plan for

Frequently Asked Questions

Q: How accurate are these cost estimates?A: The estimates are based on national and regional averages as of 2024-2025. Actual costs may vary based on specific facilities, care providers, and your individual needs.

Q: Should I include Social Security in my monthly income?A: Yes, include all regular income sources including Social Security, pensions, retirement account distributions, etc.

Q: What's included in "Total Assets"?A: Include savings, investments, property (excluding your primary residence if you plan to keep it), and any other assets that could be liquidated to pay for care.

Q: How do I know which level of care to select?A: Consider your current health needs and any conditions you may have. When in doubt, consult with a healthcare provider or care manager for an assessment.

Q: Does the calculator account for potential changes in care needs?A: The calculator provides estimates based on your current selections. In reality, care needs often increase over time. Consider running multiple calculations with different care levels to plan for potential changes.

Q: What if I don't know if I'll qualify for Medicaid?A: Run calculations both with and without Medicaid to see different scenarios. Consult with an elder law attorney or financial advisor for personalized guidance on Medicaid eligibility.

For additional assistance or to schedule a consultation with a long-term care specialist, please visit our website or contact our team through the links provided at the bottom of the calculator.