Retirement healthcare calculator
Long-Term Care Cost Calculator
Estimate a possible long-term care funding gap using editable assumptions for care cost, inflation, insurance benefits, income, and savings.
How this calculator works
The calculator starts with today's monthly care cost estimate, grows it by the care inflation rate until care begins, then estimates the total cost over the care period. It subtracts listed insurance benefits, savings reserved for care, and monthly income available for care.
future monthly care cost = current monthly cost x (1 + inflation) ^ years until care
estimated gap = gross care cost - insurance benefit - reserved savings - income offset
Worked example
If today's care estimate is $8,500 per month, care begins in 15 years, and care inflation averages 4%, the future monthly care cost is about $15,300. A 3-year care period could create a gross cost above $570,000 before insurance, income, or reserved savings are applied.
What this does not model
This tool does not determine Medicare, Medicaid, VA, insurance, or tax eligibility. It does not recommend legal planning, asset transfers, annuities, insurance policies, medical treatment, or care settings. It is a scenario worksheet for retirement planning.
Related tools & guides
- Plain-English guide: Long-term care planning in retirement
- Retirement healthcare budget: Healthcare Cost in Retirement Calculator
- Retirement withdrawals: Retirement Income Withdrawal Calculator
Frequently asked questions
Does Medicare pay for long-term care?
Medicare generally does not cover long-term custodial care. This is why a separate planning scenario can be useful.
Does this decide whether I need long-term care insurance?
No. It only shows how the math changes when you enter an insurance benefit. Insurance decisions depend on premiums, underwriting, benefits, exclusions, household assets, and personal goals.
What should I use for monthly care cost?
Use a local estimate for the type of care you want to test, such as home care, assisted living, memory care, or nursing facility care. Costs vary widely by state and care setting.
Does this include Medicaid planning?
No. Medicaid rules can be complex and state-specific. This calculator does not test eligibility, spend-down rules, estate recovery, or asset protection strategies.
Important note
This page is educational only and is not financial, insurance, tax, legal, accounting, medical, Medicare, Medicaid, VA, or benefits advice. For official Medicare long-term care information, see Medicare.gov long-term care coverage. For Medicaid long-term services and supports, see Medicaid.gov LTSS information.