Long-Term Care Series
LTC · Costs
What Long-Term Care
Actually Costs in 2025
National median costs from Genworth's 2024 Cost of Care Survey. Local prices vary widely — Detroit metro, for example, runs slightly above national median. Costs have risen 3-5% annually for the past decade.
By care setting
Home Health Aide (44 hrs/wk)
National median for in-home help with daily activities
Assisted Living Facility
Private room, basic care, meals included
Semi-Private Nursing Home Room
Shared room, skilled nursing care
Private Nursing Home Room
Private room, skilled nursing care
Adult Day Health Care
Daytime care, social engagement, basic health monitoring
Average lifetime LTC cost per person who needs it
3-year national median across mixed care settings. Couples often face higher totals. For middle-class families, this typically means the difference between leaving a legacy and leaving nothing.
The 3-5% annual inflation factor
A $120K/year nursing home today will cost roughly $200K/year in 20 years at 3% inflation, or $315K/year at 5%. If you're 50 today and don't need care until 75, you're planning for the future cost — not today's.
Most LTC policies offer an inflation rider for exactly this reason. Without it, your benefit shrinks in real value every year.
Run the numbers on your situation
We'll project local costs for your area, factor inflation, and show you what self-insuring vs. insuring actually looks like over your time horizon.
Common questions
How much does long term care cost?
In Michigan a nursing home runs about one hundred thousand dollars a year, and home health or assisted living around sixty to sixty five thousand. Costs rise every year.
How much does a home health aide cost?
Roughly sixty thousand dollars a year in Michigan for regular help at home. Round the clock care costs several times that.
Does the cost of care go up over time?
Yes, faster than general inflation. A benefit that covers the cost today can cover a fraction of it in twenty years without an inflation rider.
Keep Reading
More in Long Term Care
Sources
Genworth Cost of Care · ACL.gov
Educational content only. Costs are national medians and vary widely by location.