Long-Term Care Insurance Need Calculator — United States

Project your future daily care cost with inflation, subtract income you can apply to care, and multiply the monthly gap by your expected years of care (about 3 on average). Choose a policy with a benefit pool at least as large as that total, plus inflation protection.

No. Medicare covers only short-term skilled nursing after a hospital stay, not long-term custodial care. Long-term care is paid privately, through LTC insurance, or by Medicaid after you spend assets down to about $2,000. Insurance protects your assets from that spend-down.

For many middle-income families it is, because it protects assets from a Medicaid spend-down and gives you more care choices. Very high-net-worth individuals may self-insure, and very low-income individuals may rely on Medicaid. Inflation protection and an adequate benefit pool are essential.

Age 55-65 is the typical sweet spot: premiums are still affordable and you are more likely to pass underwriting. Waiting risks higher premiums or medical denial. Consider hybrid life/LTC policies if you want a benefit even if you never need care.