Long Term Care Planning

Long Term Care Cost Calculator

Long Term Care Cost Calculator

In this article

— Last Updated May 27, 2022

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2 mins
Reviewed by
Eric Berkman

Guide Long Term Care Cost Calculator

— Last Updated May 27, 2022

Stephanie Wilson

Director of Operations

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Reviewed by

Eric Berkman

We all know that costs for well… pretty much everything continue to rise. There’s devastation going in Ukraine, inflation is here, supply chains are stressed, oil and gas continue to go up…and the stock market – blah. Here’s another thing that continues to rise. It’s the  cost of care. Or the cost of long-term care , specifically. That’s why we built a long-term care cost calculator for you to use, so you can start to figure out what your long-term care daily costs or annual costs might be.
 
Our long-term care cost interactive calculator is an easy to use cost of care survey that will ask for a few simple inputs to help you figure out what your future costs of long-term care may be, and that will help you to determine what long-term care insurance premium is right for you and what annual premium rates you may need to pay. You don’t even need to give us your email or phone number to use it.
 
The most important factors it includes are your age, what part of the country you plan to live in during retirement, and how long you may need to have long-term medical care or nursing care services.
 
It will also allow you to input how much you’ve saved for your long-term care expenses, and it’ll calculate the difference between what you’ll have saved and what you’ll actually need in your individual circumstances. You can use it as a self-help tool to determine if you’ll need long-term care insurance and then explore what long-term care insurance might cover.

Planning for long-term care needs is one of the most important things we think every adult should include in their financial planning. Whether we like it or not, we’re all getting older and at some point, the bulk of us will need help with everyday activities. And unless you have family or friends who will be able to take care of you, then the costs of long-term care services will be high, especially if you need to go into a nursing home or other health care living facility. So, we think it’s important to know what you’re up against in terms of costs.

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Get in touch so we can discuss your needs, and match you with the right product and coverage to fit your budget.

 

The average annual costs for home care services rose from $1,928 per person in 2004 to $2,865 in 2020. During the same time period, the average annual rate for a private room in a nursing home increased by about $2,500, which puts the average cost annually for a private room in an assisted living facility at $106,000.

So if you’re starting to think about long-term care planning, then check out our long-term care cost calculator. And if there’s anything else we can do to help you with your planning, book an appointment (no obligation, of course).

Stephanie Wilson

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March 8, 2022

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Where are you in your Life Insurance planning?

Life insurance will help you protect those you love and count on you for providing financial support, in the event you pass away. We’ll help you find the right policy, with the best coverage and best rates.

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Medicare insurance will help get  the healthcare you will need when you turn 65.  We’ll help get you enrolled and get you the best rates and coverage you’ll need on a Supplemental Medicare to make sure you’re fully covered.

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Disability Insurance will help protect you from the loss of income if you become sick or unable to work for an extended period of time.  We’ll help get you the best rates and the coverage you need.

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