Long-Term Care

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Long Term Care Inputs:
Estimated annual cost:
0
Estimated total need:
0
Estimated unprotected need:
0
**FIG_GRAPHTITLE** Column Graph: Please view the report to see detailed calculation results in tabular form.
Annual Cost of Long Term Care

Definitions

Estimated daily cost

This is your current estimated cost of long term care. This is your current estimated cost of long term care. According to the Genworth Financial 2019 Cost of Care Survey, the estimated median annual cost for a nursing home stay was $90,156 per year for a semi-private room. This is about $247 per day. The cost for a private room was $102,204 or $280 per day. Assisted living at home can cost more than $52,620 per year or $144 per day for a home healthcare aid. All of these long-term care costs can be considerably higher in larger metropolitan areas.

Years of care

The number of years you expect to require long term care. The average stay in a nursing home is about 2.5 years, but can vary considerably.

Inflation rate

What you expect for the average long-term inflation rate. We will increase the cost of your long term care by this rate each year.

Funds currently available

The total amount that you have saved or invested that would be available to pay for long term care expenses.