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Financial Calculators from
Dinkytown.net

Financial Calculators ©1998-2015 KJE Computer Solutions, LLC









Annual cost of Long Term Care is estimated at $87,600
Long Term Care Inputs:
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$0
$100
$500
$1k
$0
$10k
$100k
$500k
0%
6%
13%
20%
1
34
67
100
$87,600
$366,486
$366,486
Please view the report to see detailed results in tabular form.
Annual Cost of Long Term Care
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Definitions

Estimated daily cost
This is your current estimated cost of long term care. According to the Genworth Financial 2014 Cost of Care Survey, the estimated median annual cost for a nursing home stay was $77,380 per year for a semi-private room. This is about $212 per day. The cost for a private room was $87,600or $240 per day. Assisted living at home can cost more than $41,680 per year or $20.00 per hour for a home healthcare aid. All of these long-term care costs can be considerably higher in larger metropolitan areas.
Years of care
The number of years you expect to require long term care. The average stay in a nursing home is about 2.5 years, but can vary considerably.
Inflation rate
This is what you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2014 the CPI has a long-term average of 3.0% annually. Over the last 40 years highest CPI recorded was 13.5% in 1980. For 2014, the last full year available, the CPI was 1.8% annually as reported by the Minneapolis Federal Reserve. We will increase the cost of your long term care by this rate each year.
Funds currently available
The total amount that you have saved or invested that would be available to pay for long term care expenses.

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