Insurance calculator
How much might care cost, and what may still be unpaid?
Estimate future care costs, policy benefits, and money still needed.
How much might care cost, and what may still be unpaid?
Long-term care planning is a cash-flow and family-care problem before it is an insurance problem. This calculator projects a stated daily or monthly care cost to a future need date, applies an assumed duration, and compares the exposure with insurance benefits and assets earmarked for care.
Before you act on the number
Use the result to identify which assumption needs verification, then bring that question to the professional helping you make the decision.
Transparent method
Inflate the current local care cost to the assumed start year rather than using a national average as if it were a quote.
Calculate the gross care exposure from benefit period and days of care, then account for the elimination period and entered insurance daily benefit.
Compare the remaining exposure with liquid assets or income reserved for care and display the unfunded gap.
Common questions
Costs vary widely by location, care setting, hours of help, and medical needs. Use a current local estimate for home care, assisted living, or nursing care rather than relying only on a national median.
Medicare coverage is generally limited and is not designed to pay for indefinite custodial care. Eligibility and covered skilled services should be confirmed for the specific situation.
It is a waiting period that must be satisfied before policy benefits begin. Policies differ on whether it is measured by calendar days, service days, and whether one or multiple episodes count.
Qualified premiums can be treated as medical expenses up to age-based federal limits, subject to itemization and other rules. Business owners and self-employed taxpayers can have different treatment.
Sources
Want the fine print? See sources, methods, and limits.