Long-term care is the retirement expense most people don't plan for — and it can cost $5,000-$15,000 per month. Calculate your potential exposure and whether LTC insurance makes sense.
70% of people turning 65 will need some form of long-term care. The average nursing home costs $8,000-$12,000/month. Medicare covers very little. Medicaid requires spending down almost all assets. LTC insurance is one solution — but it's not right for everyone. This calculator helps you decide.
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LTC cost vs retirement savings
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⚠️ LTC insurance considerations: Buy between ages 50-60 for best rates. After 70, premiums become very expensive or you may not qualify. Hybrid life/LTC policies offer a death benefit if care isn't needed. Self-insuring works if you have $1M+ in liquid assets — below that, the risk is significant.
Protect your retirement from long-term care costs
Compare LTC insurance options before they become unaffordable. Rates increase significantly every 5 years you wait.
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Frequently Asked Questions
Does Medicare cover long-term care? ▾
Medicare covers very limited long-term care: up to 100 days in a skilled nursing facility following a qualifying hospital stay of 3+ days. After 20 days, you pay a daily copay (about $200/day in 2026). After 100 days, Medicare pays nothing. Medicare covers no custodial care (help with daily activities like bathing, dressing, eating) at home or in assisted living. Most long-term care is custodial, not skilled nursing.
When is the right age to buy LTC insurance? ▾
The sweet spot is ages 50-60. In your 50s: you're still healthy enough to qualify at standard rates, premiums are still manageable, and you have 20+ years of coverage before likely need. In your 40s, premiums are cheapest but you're paying for decades before likely use. In your 70s, premiums are very high (often $400-600+/month) and you may not qualify due to health issues.
What are alternatives to LTC insurance? ▾
Hybrid life/LTC policies: combine life insurance with LTC benefits — if you don't need care, beneficiaries get the death benefit. Short-term care insurance: less expensive, covers 1-2 years. Self-insuring: works if you have $1.5M+ in liquid assets. Life insurance with chronic illness rider: can accelerate death benefit for LTC. Medicaid planning: involves spending down assets — legal but eliminates financial legacy.