Long Term Care Costs

Among all the uncertainties surrounding professional long term care, there is one sure thing: It costs a lot. While care can sometimes be provided by family or friends, paid care often becomes a necessity.

Unfortunately, public programs cover little to none of the costs associated with long term care expenses. A great majority of individuals must rely on personal income and resources. The simple tools on the right can help you estimate the cost of care and the amount you’ll need to save each month if you plan to pay for it out of pocket.

How are others paying for Long Term Care?

The chart represents the sources of funding of all U.S. long term care, including care provided to low-income individuals. Note that Medicaid is available only to those who meet strict state-specific limits on both income and assets that generally require impoverishment. Medicare provides some coverage for long term care related to a specific medical event or as part of rehabilitation, but does not generally cover ongoing care.

Long Term Care Cost Chart


Genworth Cost of Care Survey, conducted by CareScout®, November 2021