Frequently Asked Questions

National median costs based on Genworth 2026: In-home care (homemaker) $5,720/month, assisted living $5,511/month, memory care ~$6,800/month, nursing home private room $10,646/month. Costs vary dramatically by state — Alabama assisted living can be $3,250 while Alaska exceeds $6,800. Use our Monthly Cost Estimator for your specific state.

Yes, significantly. Assisted living averages $5,511/month vs $10,646/month for a nursing home private room. Assisted living provides housing, meals, and help with ADLs (bathing, dressing, meds). Nursing homes provide 24/7 skilled medical care.

Memory care typically costs 20–30% more than standard assisted living due to specialized staff training, secure environments, structured activities for dementia patients, and higher staff-to-resident ratios.

Senior care costs have risen ~3.2%/year over the past 5 years (Genworth), exceeding general CPI. Over 20 years, costs more than double. When planning savings, always use inflation-adjusted projections. Our calculators let you adjust the inflation rate.

Medicare does NOT cover assisted living room and board. It covers up to 100 days of skilled nursing facility care after a qualifying 3-day hospital stay, with strict requirements. Long-term custodial care (help with ADLs) is NOT covered. Medicare.gov

To qualify for Medicare-covered skilled nursing: (1) you must have a 3-day inpatient hospital stay (not observation status), (2) be admitted to a Medicare-certified facility within 30 days of hospital discharge, (3) require skilled nursing or rehab services. Day 1–20: $0. Days 21–100: ~$200/day (2026 rates).

Some states offer Medicaid waiver programs (HCBS — Home and Community-Based Services) that cover assisted living or in-home care. Not all states offer this. Nursing home care IS covered by Medicaid for eligible low-income seniors in all states. Check your state's Medicaid agency for details.

Medicare is federal health insurance for 65+ (and some disabled). It covers medical care, short-term rehab, but NOT long-term custodial care. Medicaid is means-tested (income/asset limits). It covers long-term nursing home care in all states, and some home/community care via waivers.

A 55-year-old in good health pays $125–$200/month on average for a policy with $150/day benefit, 3-year coverage, and 3% inflation protection. Cost increases sharply with age at purchase. Use our LTC Insurance Calculator to see if it's worth it for you.

For many, yes. Without insurance, 3 years of nursing home care can exceed $350,000 out-of-pocket. The insurance break-even point is typically 18–30 months of care. However, if you can afford to self-insure (have $500K+ in assets), insurance may not be necessary. Run your numbers with our calculator.

Most policies have a 90-day waiting period (elimination period) before benefits begin. Some offer 30-day or 60-day options (higher premium). During the waiting period, you pay out-of-pocket. The waiting period resets per claim episode.

Yes, LTC insurance premiums are tax-deductible as medical expenses, but only to the extent they (plus other medical expenses) exceed 7.5% of your AGI. The IRS sets maximum deductible premium amounts by age — for 2026, the limit for age 61–70 is ~$4,510.

A 65-year-old today has a 70% chance of needing long-term care. Average duration is 3 years. At 2026 prices, a single person may need $150,000–$350,000 in dedicated savings. Use our Lifetime Savings Calculator to get a personalized savings target based on your state, age, and expected care type.

Medicaid looks back 5 years for asset transfers made below fair market value. If you gifted money or transferred assets within 5 years of applying, you may face a penalty period during which Medicaid will not pay for care. Consult an elder law attorney before transferring assets.

It depends on your assets. If you have <$200K in assets, you may qualify for Medicaid and insurance may not be necessary. If you have $200K–$1M, insurance can protect your estate. If you have >$1M, you may choose to self-insure. An insurance agent or financial planner can model scenarios for you.