According to Genworth’s Cost of Care Survey 2023, the expenses associated with long-term care services have risen across all provider types, with certain settings experiencing more significant increases. Notably, the costs of home health aide and homemaker services have seen substantial upticks. The inflationary pressures and the shortage of skilled care workers are identified as the primary factors driving these cost escalations.

Genworth, in collaboration with CareScout, a wholly owned subsidiary of Genworth Financial, Inc., has been conducting its Cost of Care Survey since 2004. In response to the COVID-19 pandemic and evolving trends in the long-term care sector, the survey methodology has been updated to reflect current realities. This revised survey incorporates enhanced methodology and introduces new inquiries on care options, cost determinants, and person-centered care.