Cost of Care
The world’s population is aging at a faster rate than ever before and people are living longer. Every day until 2030, 10,000 Baby Boomers will turn 65 (a) and 7 out of 10 people will require long term care in their lifetime.(b)
The cost of that care varies based on care setting, geographic location of care and level of care required, among other things. Using Genworth’s Cost of Care Survey tool below, you and your family can calculate the cost of long term care across the U.S. Understanding what the median cost is today is a first step to helping you plan for it.
"2020 Census Will Help Policymakers Prepare for the Incoming Wave of Aging Boomers" (census.govopens in new window), site accessed 01/10/22.
2020 U.S. Department of Health and Human Services (https://acl.gov/ltc/basic-needs/how-much-care-will-you-needopens in new window). Site accessed01/10/22.