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Wednesday, February 16, 2022
Change in Long-Term Care Costs in Hawaii Mixed
By News Release @ 11:32 PM :: 1384 Views :: Hawaii Statistics, Health Care, Cost of Living
  Hawaii National  
Care Category
 

2021 Annual Cost

Change Since 20206 State Rank (High/Low)7 2021 Annual Cost Change Since 20206
Homemaker Services $686,402 7% 10th $594,882 10.64%
Home Health Aide $686,402 0% 11th $617,762 12.50%
Adult Day Health Care $195,003 3% 37th $202,803 5.41%
Assisted Living Facilities1 $645,004 8% 10th $540,004 4.65%
Nursing Home $1,500,155 4% 5th $949,005 1.96%
Semi-Private Room
Nursing Home $1,693,605 2% 3rd $1,084,055 2.41%
Private Room

Annual Median Cost of Long-Term Care Support Services for Hawaii

Change in Long-Term Care Costs in Hawaii Mixed; Labor Market Shifts and Continued COVID-19 Pressure Affect Future Costs

News Release from Genworth, Feb 15, 2022

RICHMOND, Va.--As the national annual median cost of long-term care services increased across the board this year, in Hawaii the increase in the cost for assisted living facility care surpassed the national trend while the increase in costs for home care services was less than what was seen nationally. Nationally, labor market shifts drove increased wages and COVID-19 intensified providers’ existing challenges to meet the increasing demand for long-term care services, according to Genworth’s 2021 Cost of Care Survey.

National 2021 data shows a continuation of the upward trajectory in long-term care costs, though this year presented unique challenges as patients and providers adjusted to broader economic shifts and the effects of COVID-19. This year’s Cost of Care Survey shows national annual median costs increased across all provider types and increased more substantially for certain settings – assisted living facilities (4.65%), home health aides (12.5%), homemaker services (10.64%), and skilled nursing facilities (1.96% for a semi-private room and 2.41% for a private room).

While labor costs are likely to remain a significant driver of future cost increases, providers indicated that elevated costs associated with PPE and other COVID-19 protocols such as testing, vaccination status tracking, and quarantining are likely to subside as we make continued progress on reducing COVID-19 case numbers.

The chart below shows how the cost of care in Hawaii compares with national trends and the previous year. To see how costs have risen over a 5- or 10-year period, see the trend charts on www.genworth.com/costofcare.

 

“The Cost of Care Survey has once again underscored the importance of planning ahead for long-term care costs and highlighted the need to consider where and how a person wants to receive care,” said Brian Haendiges, President and CEO, Genworth U.S. Life Insurance. “Further, our Beyond Dollars research shows that having a long-term care plan can help alleviate some of the emotional, financial, and physical stress of finding care for a loved one. Genworth is working to provide people with the products, services, and solutions to help navigate the challenges of aging—and our annual Cost of Care Survey and the accompanying interactive website are incredibly useful tools to help families assess care options as well as the costs associated with those options. It is a great first step to making a plan in advance of when you will need it.”

read … Full Report

1-7 Genworth Cost of Care Survey, conducted by CareScout®. Represents the year-over-year growth rate based on Genworth Cost of Care Surveys conducted from 2020 to 2021. The rate can be influenced by a number of factors such as random variation in samples, different sample sizes and new surveyed providers.

1-7 Additional Genworth Cost of Care Survey supporting table footnotes located at the end of the release.

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