Long-Term Care Costs Increase in Minnesota, Exceeding National Costs
Genworth and CareScout's 2024 Cost of Care Survey reveals that long-term care costs in Minnesota have increased year-over-year, surpassing national averages. The survey highlights a continued upward trend in long-term care expenses across various care types nationwide, with most increases outpacing inflation rates.
The primary factors driving these cost increases are inflation and labor costs. The survey data and resources are now available on CareScout.com/cost-of-care, featuring interactive tools to calculate median costs, state-by-state comparisons, and access to the CareScout Quality Network of long-term care providers.
The platform also offers comprehensive resources including aging care planning guides, information on funding long-term care services, and insights on person-centered care approaches.
Il sondaggio sui costi dell'assistenza 2024 di Genworth e CareScout rivela che i costi dell'assistenza a lungo termine nel Minnesota sono aumentati anno dopo anno, superando le medie nazionali. Il sondaggio evidenzia 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 e le risorse del sondaggio sono ora disponibili su CareScout.com/cost-of-care, con strumenti interattivi per calcolare i costi medi, confronti stato per stato e accesso alla Rete di Qualità CareScout dei fornitori di assistenza a lungo termine.
La piattaforma offre anche risorse complete, tra cui guide alla pianificazione dell'assistenza per gli anziani, informazioni sul finanziamento dei servizi di assistenza a lungo termine e approfondimenti sugli approcci di assistenza centrati sulla persona.
La Encuesta de Costos de Atención 2024 de Genworth y CareScout revela que los costos de atención a largo plazo en Minnesota han aumentado año tras año, superando los promedios nacionales. La encuesta destaca una tendencia al alza continua en los gastos de atención a largo plazo en varios tipos de atención a nivel nacional, siendo la mayoría de los aumentos superiores a las tasas de inflación.
Los principales factores que impulsan estos aumentos de costos son la inflación y los costos laborales. Los datos y recursos de la encuesta ya están disponibles en CareScout.com/cost-of-care, que presenta herramientas interactivas para calcular costos medianos, comparaciones estado por estado y acceso a la Red de Calidad CareScout de proveedores de atención a largo plazo.
La plataforma también ofrece recursos completos, incluidas guías de planificación de atención para ancianos, información sobre la financiación de servicios de atención a largo plazo y perspectivas sobre enfoques de atención centrados en la persona.
Genworth와 CareScout의 2024년 장기 요양 비용 조사에 따르면 미네소타의 장기 요양 비용이 매년 증가하고 있으며, 이는 전국 평균을 초과하고 있습니다. 이 조사는 다양한 요양 유형에 걸쳐 장기 요양 비용의 지속적인 상승 추세를 강조하며, 대부분의 증가가 인플레이션율을 초과하고 있습니다.
이러한 비용 증가를 주도하는 주요 요인은 인플레이션과 인건비입니다. 조사 데이터와 자료는 이제 CareScout.com/cost-of-care에서 이용 가능하며, 중간 비용을 계산하는 인터랙티브 도구, 주별 비교 및 장기 요양 제공자의 CareScout 품질 네트워크에 접근할 수 있습니다.
이 플랫폼은 노인 돌봄 계획 가이드, 장기 요양 서비스 자금 조달 정보 및 개인 중심의 돌봄 접근 방식에 대한 통찰력을 포함한 포괄적인 자원도 제공합니다.
Le sondage sur le coût des soins 2024 de Genworth et CareScout révèle que les coûts des soins de longue durée au Minnesota ont augmenté d'année en année, dépassant les moyennes nationales. Le sondage met en évidence une tendance à la hausse continue des dépenses de soins de longue durée dans divers types de soins à l'échelle nationale, 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 et ressources de l'enquête sont désormais disponibles sur CareScout.com/cost-of-care, avec des outils interactifs pour calculer les coûts médians, des comparaisons par État et l'accès au Réseau de Qualité CareScout des fournisseurs de soins de longue durée.
La plateforme propose également des ressources complètes, y compris des guides de planification des soins aux personnes âgées, des informations sur le financement des services de soins de longue durée et des perspectives sur les approches de soins centrées sur la personne.
Die Kostenumfrage 2024 von Genworth und CareScout zeigt, dass die Kosten für die Langzeitpflege in Minnesota Jahr für Jahr gestiegen sind und die nationalen Durchschnittswerte übertreffen. Die Umfrage hebt einen anhaltenden Aufwärtstrend der Langzeitpflegeausgaben in verschiedenen Pflegearten landesweit hervor, wobei die meisten Erhöhungen die Inflationsraten übertreffen.
Die Hauptfaktoren, die diese Kostensteigerungen antreiben, sind Inflation und Arbeitskosten. Die Umfragedaten und -ressourcen sind jetzt auf CareScout.com/cost-of-care verfügbar und bieten interaktive Werkzeuge zur Berechnung der Medianpreise, staatliche Vergleiche und den Zugang zum CareScout-Qualitätsnetzwerk von Langzeitpflegeanbietern.
Die Plattform bietet auch umfassende Ressourcen, darunter Leitfäden zur Planung der Altenpflege, Informationen zur Finanzierung von Langzeitpflegediensten und Einblicke in personenzentrierte Pflegeansätze.
- Launch of comprehensive interactive cost planning tools on CareScout.com
- Establishment of CareScout Quality Network for verified high-quality care providers
- Long-term care costs in Minnesota exceeding national averages
- Continued cost increases outpacing inflation rates
- Rising labor costs impacting service expenses
“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 |
|||||
|
|
National |
|||
Care Category |
2024 Annual Cost |
Change Since 20236 |
State Rank (High/Low) 7 |
2024 Annual Cost |
Change Since 2023 |
Homemaker Services |
|
|
5 |
|
|
Home Health Aide |
|
|
4 |
|
|
Adult Day Care |
|
n/a8 |
|
n/a8 |
|
Assisted Living Communities1 |
|
|
29 |
|
|
Nursing Home
|
|
|
15 |
|
|
Nursing Home
|
|
|
13 |
|
|
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/20250301686106/en/
Media Contact:
Ryan Clark
ryan.clark@genworth.com
Source: Genworth Financial, Inc.
FAQ
How much did long-term care costs increase in Minnesota for 2024?
What are the main factors driving up long-term care costs in 2024?
Where can I find Genworth's 2024 Cost of Care Survey data?
What resources does CareScout.com provide for long-term care planning?
