Long-Term Care Costs Increase in Michigan, On Par with National Costs
Genworth and CareScout's 2024 Cost of Care Survey reveals that long-term care costs in Michigan have increased year-over-year, while remaining comparable to national averages. The survey indicates a continued upward trend in long-term care expenses across various care types nationally, with most increases exceeding inflation rates.
The primary factors driving these cost increases are inflation and labor costs. The survey data and additional resources are now available on CareScout.com/cost-of-care, featuring interactive tools for calculating median long-term care costs, state-by-state comparisons, and access to CareScout's Quality Network of care providers.
CareScout, a Genworth company with over 50 years of expertise in long-term care, aims to help families understand, locate, and finance quality long-term care services through their comprehensive online platform.
Il sondaggio sui costi dell'assistenza 2024 di Genworth e CareScout rivela che i costi dell'assistenza a lungo termine nel Michigan sono aumentati anno dopo anno, rimanendo comunque comparabili con le medie nazionali. Il sondaggio indica una continua tendenza al rialzo delle spese per l'assistenza a lungo termine in vari tipi di assistenza a livello nazionale, con la maggior parte degli aumenti che supera i tassi di inflazione.
I principali fattori che guidano questi aumenti dei costi sono l'inflazione e i costi del lavoro. I dati del sondaggio e ulteriori risorse sono ora disponibili su CareScout.com/cost-of-care, che offre strumenti interattivi per calcolare i costi mediani dell'assistenza a lungo termine, confronti tra stati e accesso alla Rete di Qualità dei fornitori di assistenza di CareScout.
CareScout, una società di Genworth con oltre 50 anni di esperienza nell'assistenza a lungo termine, mira ad aiutare le famiglie a comprendere, localizzare e finanziare servizi di assistenza a lungo termine di qualità attraverso la loro piattaforma online completa.
La Encuesta de Costos de Cuidado 2024 de Genworth y CareScout revela que los costos de atención a largo plazo en Michigan han aumentado año tras año, mientras que se mantienen comparables a los promedios nacionales. La encuesta indica una tendencia al alza continua en los gastos de atención a largo plazo en varios tipos de atención a nivel nacional, con la mayoría de los aumentos superando las tasas de inflación.
Los principales factores que impulsan estos aumentos de costos son la inflación y los costos laborales. Los datos de la encuesta y recursos adicionales ya están disponibles en CareScout.com/cost-of-care, que cuenta con herramientas interactivas para calcular los costos medianos de atención a largo plazo, comparaciones estado por estado y acceso a la Red de Calidad de proveedores de atención de CareScout.
CareScout, una empresa de Genworth con más de 50 años de experiencia en atención a largo plazo, tiene como objetivo ayudar a las familias a comprender, localizar y financiar servicios de atención a largo plazo de calidad a través de su plataforma en línea integral.
Genworth와 CareScout의 2024년 장기 요양 비용 조사에 따르면 미시간의 장기 요양 비용이 매년 증가하고 있으며, 이는 전국 평균과 비슷한 수준을 유지하고 있습니다. 이 조사는 다양한 요양 유형에서 장기 요양 비용이 계속해서 증가하고 있으며, 대부분의 증가가 인플레이션율을 초과하고 있음을 나타냅니다.
이러한 비용 증가를 이끄는 주요 요인은 인플레이션과 인건비입니다. 조사 데이터와 추가 리소스는 이제 CareScout.com/cost-of-care에서 확인할 수 있으며, 장기 요양 비용의 중앙값 계산, 주별 비교 및 CareScout의 품질 네트워크 제공자에 대한 접근을 위한 대화형 도구를 제공합니다.
CareScout는 50년 이상의 장기 요양 전문성을 가진 Genworth의 자회사로, 가족들이 양질의 장기 요양 서비스를 이해하고, 찾고, 재정 지원을 받을 수 있도록 돕는 포괄적인 온라인 플랫폼을 제공합니다.
Le sondage sur le coût des soins 2024 de Genworth et CareScout révèle que les coûts des soins de longue durée dans le Michigan ont augmenté d'une année sur l'autre, tout en restant comparables aux moyennes nationales. L'enquête indique une tendance à la hausse continue des dépenses de soins de longue durée dans divers types de soins au niveau national, la plupart des augmentations dépassant les taux d'inflation.
Les principaux facteurs à l'origine de ces augmentations de coûts sont l'inflation et les coûts de main-d'œuvre. Les données de l'enquête et des ressources supplémentaires sont désormais disponibles sur CareScout.com/cost-of-care, avec des outils interactifs pour calculer les coûts médians des soins de longue durée, des comparaisons par État et un accès au Réseau de Qualité des fournisseurs de soins de CareScout.
CareScout, une entreprise de Genworth avec plus de 50 ans d'expertise dans les soins de longue durée, vise à aider les familles à comprendre, localiser et financer des services de soins de longue durée de qualité grâce à leur plateforme en ligne complète.
Die Kostenumfrage 2024 von Genworth und CareScout zeigt, dass die Kosten für die Langzeitpflege in Michigan von Jahr zu Jahr gestiegen sind, während sie im Vergleich zu den nationalen Durchschnittswerten vergleichbar bleiben. Die Umfrage weist auf einen anhaltenden Aufwärtstrend bei den Kosten für Langzeitpflege in verschiedenen Pflegearten auf nationaler Ebene hin, wobei die meisten Anstiege die Inflationsraten übersteigen.
Die Hauptfaktoren, die diese Kostensteigerungen antreiben, sind Inflation und Arbeitskosten. Die Umfragedaten und zusätzliche Ressourcen sind jetzt auf CareScout.com/cost-of-care verfügbar, die interaktive Werkzeuge zur Berechnung der medianen Langzeitpflegekosten, staatliche Vergleiche und Zugang zum Qualitätsnetzwerk von Pflegeanbietern von CareScout bieten.
CareScout, ein Unternehmen von Genworth mit über 50 Jahren Erfahrung in der Langzeitpflege, hat das Ziel, Familien zu helfen, qualitativ hochwertige Langzeitpflegedienste zu verstehen, zu finden und zu finanzieren, über ihre umfassende Online-Plattform.
- Survey data indicates stable market position with costs aligned to national averages
- Launch of comprehensive online platform for long-term care resources
- Rising costs across care types exceeding inflation rates
- Increasing labor costs affecting service pricing
“Genworth and CareScout are committed to helping our customers in
National 2024 Cost of Care Survey data showed a continued upward trajectory in long-term care costs across care types, with cost increases for most care types continuing to outpace inflation rates1. The top factors contributing to increased costs were inflation and labor costs. Here’s how the cost of care in
Annual Median Cost of Long-Term Care for |
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|
National |
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Care Category |
2024 Annual Cost |
Change Since 20236 |
State Rank (High/Low) 7 |
2024 Annual Cost |
Change Since 2023 |
Homemaker Services |
|
|
30 |
|
|
Home Health Aide |
|
|
32 |
|
|
Adult Day Care |
|
n/a8 |
|
n/a8 |
|
Assisted Living Communities1 |
|
|
25 |
|
|
Nursing Home
|
|
|
20 |
|
|
Nursing Home
|
|
|
22 |
|
|
The Cost of Care Survey has a new home: www.CareScout.com/cost-of-care. CareScout, a Genworth company, has been part of the Cost of Care Survey since its first edition in 2004. Leveraging Genworth’s 50+ years of expertise in long-term care, CareScout is on a mission to help more families understand, find, and fund high-quality long-term care. On CareScout.com, you’ll find an array of resources including:
- The Cost of Care Survey tool, an interactive web-based tool to help calculate the median cost of long-term care services in your area.
- National and state median data and ranked state data tables to help you see median costs across care types at-a-glance.
- The CareScout Quality Network, a first-of-its-kind network of long-term care providers who meet high-standards for quality, person-centered care.
- A guide to aging care planning to help care seekers gather and organize information and resources to make the aging journey a smooth one.
- Information about paying for long-term care services for yourself or a loved one.
- Perspectives on person-centered care – what it is and why you should insist on it.
About the Cost of Care Survey
The annual Cost of Care Survey, one of the most comprehensive studies of its kind, contacted more than 140,000 long-term care providers nationwide to complete more than 15,000 surveys for nursing homes, assisted living communities, adult day health facilities and home care providers from July to December 2024. The survey collected rates for 2024 and includes 431 regions based on the Metropolitan Statistical Areas, defined by the Office of Management and Budget as a core area containing a substantial population nucleus, together with adjacent communities having a high degree of economic and social integration with that core. However, due to statistical variance, actual costs for long-term care services may differ from the projected cost based on ZIP Code or location.
About Genworth Financial
Genworth Financial, Inc (“Genworth”) (NYSE: GNW) is a Fortune 500 company focused on empowering families to navigate the aging journey with confidence, now and in the future. Headquartered in
About CareScout
CareScout helps older adults and their families navigate the aging journey and find quality care. Inspired by a mission to simplify and dignify the aging experience, we're building an integrated ecosystem of care and funding solutions. To learn more about CareScout, visit www.CareScout.com. CareScout, LLC (CareScout) is a wholly owned subsidiary of Genworth Financial, Inc. (NYSE: GNW).
1 “United States Inflation Rate” (https://tradingeconomics.com/united-states/inflation-cpi), site accessed 02/09/25
Table Footnotes
1 Referred to as Residential Care facilities in
2 Based on 44 hours per week for 52 weeks
3 Based on 5 days per week for 52 weeks
4 Based on 12 months of care, private, one bedroom
5 Based on 365 days of care
6 Based on 2023 and 2024 Annual Percentage Change
7 Ranking based on the highest to lowest cost per state for each care category
8 Adult Day Care is a less prevalent care type. As a result, we were not able to provide year-over-year change at this time.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250301393009/en/
Media Contact:
Ryan Clark
ryan.clark@genworth.com
Source: Genworth Financial, Inc.
FAQ
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How do Michigan's long-term care costs compare to national averages in GNW's 2024 survey?
