Long-Term Care Costs Increase in New Mexico, On Par with National Costs
Genworth and CareScout have released their 2024 Cost of Care Survey revealing that long-term care costs in New Mexico have increased year-over-year, while remaining comparable to national averages. The survey indicates a continued upward trend in long-term care costs across various care types nationally, with most increases outpacing inflation rates.
The primary factors driving these cost increases are identified as inflation and labor costs. The survey results and additional resources are now available on www.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.
Genworth e CareScout hanno pubblicato il loro Rapporto sui Costi di Assistenza 2024, rivelando che i costi per l'assistenza a lungo termine nel New Mexico sono aumentati anno dopo anno, rimanendo comparabili con le medie nazionali. Il rapporto indica una continua tendenza al rialzo nei costi dell'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 di costo sono identificati come inflazione e costi del lavoro. I risultati del sondaggio e ulteriori risorse sono ora disponibili su www.CareScout.com/cost-of-care, con strumenti interattivi per calcolare i costi mediani, confronti tra stati e accesso alla Rete di Qualità CareScout di fornitori di assistenza a lungo termine.
Genworth y CareScout han publicado su Encuesta de Costos de Atención 2024, revelando que los costos de atención a largo plazo en Nuevo México han aumentado año tras año, mientras que se mantienen comparables a los promedios nacionales. La encuesta indica una tendencia al alza continua en los costos 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 costo se identifican como la inflación y los costos laborales. Los resultados de la encuesta y recursos adicionales ya están disponibles en www.CareScout.com/cost-of-care, que cuenta con herramientas interactivas para calcular costos medianos, comparaciones entre estados y acceso a la Red de Calidad CareScout de proveedores de atención a largo plazo.
Genworth와 CareScout는 2024년 돌봄 비용 조사를 발표하며, 뉴멕시코의 장기 요양 비용이 해마다 증가하고 있으며, 국가 평균과 비슷한 수준을 유지하고 있음을 밝혔습니다. 이 조사는 다양한 요양 유형에서 장기 요양 비용이 지속적으로 상승하는 추세를 보이고 있으며, 대부분의 증가가 인플레이션 비율을 초과하고 있음을 나타냅니다.
이러한 비용 증가를 주도하는 주요 요인은 인플레이션과 인건비로 확인되었습니다. 조사 결과 및 추가 자료는 이제 www.CareScout.com/cost-of-care에서 확인할 수 있으며, 중간 비용 계산, 주별 비교 및 장기 요양 제공자의 CareScout 품질 네트워크에 대한 접근을 위한 인터랙티브 도구를 제공합니다.
Genworth et CareScout ont publié leur Enquête sur le Coût des Soins 2024, révélant que les coûts des soins de longue durée au Nouveau-Mexique 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 coûts des 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 identifiés comme l'inflation et les coûts de main-d'œuvre. Les résultats de l'enquête et des ressources supplémentaires sont désormais disponibles sur www.CareScout.com/cost-of-care, avec des outils interactifs pour calculer les coûts médians, des comparaisons d'État à État et un accès au Réseau de Qualité CareScout des fournisseurs de soins de longue durée.
Genworth und CareScout haben ihre Kostenstudie zur Pflege 2024 veröffentlicht, die zeigt, dass die Kosten für die Langzeitpflege in New Mexico von Jahr zu Jahr gestiegen sind, während sie im Vergleich zu den nationalen Durchschnittswerten vergleichbar bleiben. Die Umfrage zeigt einen anhaltenden Aufwärtstrend bei den Langzeitpflegekosten in verschiedenen Pflegearten auf nationaler Ebene, wobei die meisten Erhöhungen die Inflationsraten übertreffen.
Die Hauptfaktoren, die diese Kostensteigerungen antreiben, sind Inflation und Arbeitskosten. Die Umfrageergebnisse und zusätzliche Ressourcen sind jetzt auf www.CareScout.com/cost-of-care verfügbar, mit interaktiven Tools zur Berechnung der Medianpreise, staatlichen Vergleichen und Zugang zum CareScout-Qualitätsnetzwerk von Langzeitpflegeanbietern.
- Survey data now accessible through enhanced digital platform
- Launch of CareScout Quality Network for verified care providers
- Long-term care costs increasing above inflation rates
- Rising labor costs impacting care 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 |
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|
|
National |
|||
Care Category |
2024 Annual Cost |
Change Since 20236 |
State Rank (High/Low) 7 |
2024 Annual Cost |
Change Since 2023 |
Homemaker Services |
|
n/a9 |
45 |
|
|
Home Health Aide |
|
- |
47 |
|
|
Adult Day Care |
|
n/a8 |
|
n/a8 |
|
Assisted Living Communities1 |
|
|
20 |
|
|
Nursing Home
|
|
|
26 |
|
|
Nursing Home
|
|
|
26 |
|
|
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.
9 Due to low responses in 2023, we are unable to provide state level changes this year.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250301415072/en/
Media Contact:
Ryan Clark
ryan.clark@genworth.com
Source: Genworth Financial, Inc.
FAQ
How have long-term care costs changed in New Mexico according to Genworth's 2024 survey?
What are the main factors driving the increase in long-term care costs in 2024?
Where can I access Genworth's 2024 Cost of Care Survey results?
What resources does CareScout.com provide for long-term care planning?
