Long-term care costs a fortune. Genworth, a long-term care insurance provider that has been tracking the cost of long-term care, reports that costs have risen dramatically since they began tracking them in 2004. Families are often astounded when they find out how much long-term care can cost, especially when they learn that Medicare benefits are limited for these services. Unless the person has long-term care insurance, they will likely pay for this care out-of-pocket—from savings, home equity and, often, other family members’ assets.