Long-Term Care Insurance Needs Calculator
Reviewed by Hamza Gujjar, Algorithm Architect & Software Developer
Last updated: July 27, 2026Long-Term Care Insurance Needs Calculator
Long-term care - extended help with daily activities due to aging, chronic illness, or disability - is generally not covered by standard health insurance or Medicare beyond limited short-term skilled nursing benefits. This calculator estimates your potential coverage gap.
Total Projected Care Cost = Annual Cost x Expected Years of Care
Coverage Gap = Total Projected Cost - Existing Earmarked Savings
Example
$75,000 estimated annual care cost, 3 expected years of care, $100,000 existing earmarked savings:
Total Cost = $225,000 → Coverage Gap = $125,000
Why This Planning Matters
Long-term care costs vary enormously by care type (in-home care, assisted living, or skilled nursing facility) and geographic region, and have historically risen faster than general inflation in many areas - a savings cushion that looks adequate today can erode meaningfully if care isn't needed for many more years, or if actual costs run higher than initially projected.
Ways to Address a Coverage Gap
Options for addressing an identified gap include traditional long-term care insurance policies, hybrid life insurance/long-term care policies, or simply earmarking additional dedicated savings - the right approach depends heavily on age, health status, and overall financial planning goals, making this a good conversation to have with a qualified financial planner.