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Long-Term Care Costs Increase in South Carolina, On Par with National Costs

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Genworth and CareScout's 2024 Cost of Care Survey reveals that long-term care costs in South Carolina have increased year-over-year, maintaining pace with national trends. The survey indicates that costs across various care types continue to outpace inflation rates nationally.

Key factors driving the cost increases include:

  • Inflation impacts
  • Rising labor costs

The survey data is now accessible at www.CareScout.com/cost-of-care, featuring interactive tools and resources including:

  • Cost calculation tools for local care services
  • National and state median cost comparisons
  • CareScout Quality Network of vetted care providers
  • Aging care planning guides
  • Information on long-term care funding options

Il Rapporto sui Costi dell'Assistenza 2024 di Genworth e CareScout rivela che i costi dell'assistenza a lungo termine in Carolina del Sud sono aumentati di anno in anno, mantenendo il passo con le tendenze nazionali. Il sondaggio indica che i costi in vari tipi di assistenza continuano a superare i tassi di inflazione a livello nazionale.

I principali fattori che guidano l'aumento dei costi includono:

  • Impatto dell'inflazione
  • Aumento dei costi del lavoro

I dati del sondaggio sono ora accessibili su www.CareScout.com/cost-of-care, con strumenti interattivi e risorse tra cui:

  • Strumenti di calcolo dei costi per i servizi di assistenza locali
  • Confronti dei costi mediani nazionali e statali
  • Rete di Qualità CareScout di fornitori di assistenza verificati
  • Guide alla pianificazione dell'assistenza per l'invecchiamento
  • Informazioni sulle opzioni di finanziamento per l'assistenza a lungo termine

La Encuesta sobre Costos de Atención 2024 de Genworth y CareScout revela que los costos de atención a largo plazo en Carolina del Sur han aumentado año tras año, manteniendo el ritmo con las tendencias nacionales. La encuesta indica que los costos en varios tipos de atención continúan superando las tasas de inflación a nivel nacional.

Los principales factores que impulsan el aumento de costos incluyen:

  • Impactos de la inflación
  • Aumento de los costos laborales

Los datos de la encuesta ahora están disponibles en www.CareScout.com/cost-of-care, con herramientas interactivas y recursos que incluyen:

  • Herramientas de cálculo de costos para servicios de atención locales
  • Comparaciones de costos medianos nacionales y estatales
  • Red de Calidad CareScout de proveedores de atención verificados
  • Guías de planificación de atención para el envejecimiento
  • Información sobre opciones de financiamiento para atención a largo plazo

Genworth와 CareScout의 2024년 돌봄 비용 조사는 사우스캐롤라이나의 장기 요양 비용이 매년 증가하고 있으며, 이는 국가적 추세와 일치하고 있음을 보여줍니다. 조사에 따르면 다양한 돌봄 유형의 비용이 전국적으로 인플레이션율을 초과하고 있습니다.

비용 증가를 초래하는 주요 요인은 다음과 같습니다:

  • 인플레이션의 영향
  • 상승하는 인건비

조사 데이터는 이제 www.CareScout.com/cost-of-care에서 확인할 수 있으며, 여기에는 다음과 같은 대화형 도구와 리소스가 포함되어 있습니다:

  • 지역 돌봄 서비스에 대한 비용 계산 도구
  • 국가 및 주별 중간 비용 비교
  • 검증된 돌봄 제공자의 CareScout 품질 네트워크
  • 노인 돌봄 계획 가이드
  • 장기 요양 자금 옵션에 대한 정보

Le Rapport sur les Coûts des Soins 2024 de Genworth et CareScout révèle que les coûts des soins de longue durée en Caroline du Sud ont augmenté d'année en année, suivant ainsi les tendances nationales. L'enquête indique que les coûts dans différents types de soins continuent de dépasser les taux d'inflation au niveau national.

Les principaux facteurs qui poussent à l'augmentation des coûts comprennent:

  • Les impacts de l'inflation
  • La hausse des coûts de la main-d'œuvre

Les données de l'enquête sont désormais accessibles sur www.CareScout.com/cost-of-care, avec des outils interactifs et des ressources comprenant:

  • Outils de calcul des coûts pour les services de soins locaux
  • Comparaisons des coûts médians nationaux et étatiques
  • Réseau de Qualité CareScout de prestataires de soins vérifiés
  • Guides de planification des soins pour le vieillissement
  • Informations sur les options de financement des soins de longue durée

Die Kostenumfrage 2024 von Genworth und CareScout zeigt, dass die Kosten für die Langzeitpflege in South Carolina von Jahr zu Jahr gestiegen sind und mit den nationalen Trends Schritt halten. Die Umfrage zeigt, dass die Kosten in verschiedenen Pflegearten die Inflationsraten auf nationaler Ebene weiterhin übersteigen.

Wichtige Faktoren, die die Kostensteigerungen vorantreiben, sind:

  • Einflüsse der Inflation
  • Steigende Arbeitskosten

Die Umfragedaten sind jetzt unter www.CareScout.com/cost-of-care verfügbar und bieten interaktive Werkzeuge und Ressourcen, darunter:

  • Kostenberechnungstools für lokale Pflegeleistungen
  • Vergleiche der nationalen und staatlichen Medianpreise
  • CareScout-Qualitätsnetzwerk von geprüften Pflegeanbietern
  • Leitfäden zur Pflegeplanung im Alter
  • Informationen zu Finanzierungsmöglichkeiten für die Langzeitpflege

Positive
  • Launch of comprehensive online platform for long-term care planning and cost analysis
  • Expansion of CareScout Quality Network with vetted care providers
Negative
  • Long-term care costs increasing faster than inflation rates
  • Rising labor costs impacting service pricing

RICHMOND, Va.--(BUSINESS WIRE)-- The cost of long-term care services in South Carolina increased year-over-year, but remains on par with national costs, according to the 2024 Cost of Care Survey conducted by Genworth and CareScout.

“Genworth and CareScout are committed to helping our customers in South Carolina create person-centered plans for how they want to receive care as they age,” said Jamala Arland, President & CEO, Genworth U.S. Life Insurance. “That means integrating a person’s values, preferences, and goals into the care they receive. The Cost of Care Survey is a great resource for individuals starting to create a plan, who want to learn more about different care types and see how costs may grow over time.”

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 South Carolina compares with national trends and the previous year:

Annual Median Cost of Long-Term Care for South Carolina

 

South Carolina

National

Care Category

2024 Annual Cost

Change Since 20236

State Rank (High/Low)7

2024 Annual Cost

Change Since 2023

Homemaker Services

$68,6402

5%

41

$75,504

10%

Home Health Aide

$68,6402

-6%

43

$77,792

3%

Adult Day Care

$18,7203

n/a8

 

$26,000

n/a8

Assisted Living Communities1

$62,4004

12%

37

$70,800

10%

Nursing Home
Semi-Private Room

$107,4925

3%

31

$111,325

7%

Nursing Home
Private Room

$114,4285

2%

40

$127,750

9%

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:

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 Richmond, Virginia, Genworth and its CareScout businesses provide guidance, products, and services that help people understand their caregiving options and fund their long-term care needs. Genworth is also the parent company and majority-owner of publicly traded Enact Holdings, Inc. (Nasdaq: ACT), a leading U.S. mortgage insurance provider.

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 California
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.

Media Contact:

Ryan Clark

ryan.clark@genworth.com

Source: Genworth Financial, Inc.

FAQ

How much did long-term care costs increase in South Carolina for 2024?

According to Genworth's 2024 survey, costs increased year-over-year in South Carolina, tracking with national averages, though specific percentage increases were not disclosed.

What are the main factors driving up long-term care costs in 2024?

The primary factors contributing to increased long-term care costs are inflation and labor costs.

Where can I find Genworth's 2024 Cost of Care Survey data?

The complete survey data is available at www.CareScout.com/cost-of-care, featuring interactive tools and resources.

What resources does CareScout's new platform offer for long-term care planning?

The platform offers cost calculation tools, state-by-state cost comparisons, a quality provider network, aging care planning guides, and information about funding options.
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