South Carolina is growing older—and faster than the national average. In 2000, there were 468,440 residents aged 65 and older in the state. Today, the senior population is expanding at a record pace, and by 2030, nearly 27% of South Carolinians will be over 60. Within 25 years, the number of residents age 60 and over is expected to double to more than 1.29 million.
This demographic shift, often called the “silver tsunami,” is more than a statistic. It represents real families, neighbors, and loved ones who will need care, support, and financial protection in the years ahead. Across South Carolina, an estimated 15,000 to 18,000 seniors live in nursing homes among nearly 195 licensed facilities with more than 18,000 beds. This number will only rise as the population ages and more seniors experience conditions requiring daily assistance.
The growing need for Long-Term Care – consider these facts:
- 35% of South Carolinians over 65 live with a disability, higher than the national average.
- About 5% of older adults nationally live in nursing homes, but many more require home-based or assisted living care.
The looming cost of care is staggering:
- In-home care averages $4,300 per month today, projected to exceed $7,300 monthly by 2044.
- Assisted living costs average $3,688 now, expected to reach $6,284 per month within 20 years.
- Nursing home private rooms cost $7,727 per month today and may climb to $13,000 or more by 2044.
Most long-term care is provided at home or in assisted living facilities—but the financial burden can be overwhelming for families without a plan.
Medicaid and the Changing Legal Landscape
Medicaid plays a critical role in covering long-term care for seniors, paying for more than half of the nursing home costs in the U.S. However, recent federal legislation passed in 2025 is expected to reduce Medicaid funding in South Carolina starting in 2027. The law shortens retroactive coverage for nursing home residents and may lead to funding cuts that impact access to care.
For South Carolina seniors, this means planning is more important than ever. With income and asset limits for Medicaid eligibility set at $2,901 monthly income and $2,000 in countable assets for a single applicant, many middle-class families find themselves in a difficult position: too much income to qualify for assistance, but not enough to cover years of long-term care out-of-pocket.
How Elder Law & Medicaid Planning Can Help
At The Floyd Law Firm PC, we understand these challenges and are here to help you navigate them. Elder Law focuses on protecting your assets, planning for future care, and ensuring your wishes are honored as you age.
Our Medicaid Planning strategies can help reduce the economic impact of long-term care and avoid financial hardship for you and your family. With the right plan in place, you can protect your home, preserve your savings, and secure quality care for the future.
An effective estate plan often includes:
- Wills and Trusts
- Powers of Attorney for healthcare and property decisions
- Advance Healthcare Directives such as living wills and healthcare proxies
- Medicaid eligibility planning to help manage the costs of long-term care
We can often complete an initial planning consultation in about an hour. During this time, we’ll listen to your concerns, learn about your goals, and begin outlining strategies tailored to your situation. Our experience in estate planning, tax planning, and complex asset protection allows us to create a plan that works for you.
At The Floyd Law Firm PC, our mission is simple: to provide compassionate, thorough legal guidance so you and your loved ones can face the future with confidence. When you are ready to start planning, contact us to schedule your consultation, because the best time to plan for tomorrow is today.
More Information:
South Carolina Department on Aging
SCDHEC South Carolina Department of Health and Human Services: Healthy Connections Medicaid
