The cost of long term care varies with each individual. It depends on your health, existing support network and how well you plan.
In Hawaii, we’re grown accustomed to everything being expensive. Food, utilities, housing and other necessities all put an enormous strain on our wallets. The cost of long term care can impact the lives of our families, our savings and other assets, and our financial future.
Here are recent annual median rates for long-term care in Hawaii in comparison to the rest of the United States from the Genworth’s 2016 Cost of Care Survey:
|Type of Care||USA||Hawaii|
|Homemaker services (non-medical care):||$45,760||$54,912|
|Home Health Aide (medical care):||$46,332||$57,772|
|Adult Day Health:||$17,680||$17,550|
|Assisted Living Facility (one bedroom, single occupancy):||$43,539||$49,500|
|Nursing home (semi-private room):||$82,125||$129,575|
|Nursing home (private room):||$92,378||$141,310|
For more information click on the Genworth 2016 Cost of Care Survey, conducted by CareScout®, April 2016.
Homemaker Services and Home Health Aide based on 44 hours per week by 52 weeks
Adult Day Health Care based on 5 days per week for 52 weeks
Assisted Living Facility based on 12 months of care in a private, one bedroom
Nursing Home (private and semi-rate) based on 365 days of care
Generally, health plans do not cover long term care. Health insurance usually provides medical care for health conditions or illness for a shorter period of time, but please check with your health plan and ask what your plan covers.
You should also know that Medicare or disability only covers certain types of care. Many believe Medicaid is another option, but this requires you to spend all of your own funds before you are eligible. Basically, some choose to impoverish themselves, but in the process give up freedom to choose where and how they receive long term care.
Health insurance and Medicare only pay for long term care in certain situations. Health insurance usually provides medical care for health conditions or illness for a shorter duration. Long term care may not always involve medical treatment, but require assistance with daily activities over a longer period of time.
Here are some ways to cover the costs of long term care. Be sure to click on the Contact tab and sign up for the booklet on long term care options, so that you can make informed and be better prepared.
The Hawaii Long Term Commission explored other options:
I know accidents can happen even when you’re just having fun. Long term care - it’s not just for seniors. And it’s never too early to start planning and take charge of your own future.