Genworth Cost of Care Survey 2019: Most Long Term Care Costs In Hawaii Decreased Year over Year
News Release from Genworth Financial, Inc. Nov 20, 2019,
RICHMOND, Va., Nov. 20, 2019 -- According to the 16th annual Genworth Cost of Care Survey 2019, the overall cost of long term care in Hawaii decreased from 2018 to 2019.
In Hawaii, the cost of homemaker services, which includes assistance with "hands-off" tasks such as cooking, cleaning and running errands, increased 7 percent during the last 12 months to $61,204 for 44 hours/week for 52 weeks. The cost of a home health aide, which includes "hands-on" personal assistance with activities such as bathing, dressing and eating, decreased 8.73 percent, to $62,645 for the same amount of time.
This year's Cost of Care Survey findings show that the national median annual cost of in-home care is rising sharply compared with the costs of assisted living and nursing home care, which are stabilizing. Nationally, the cost of homemaker services rose almost four times as fast as the annual median cost of a nursing home. Home is where most people want to stay as they grow older.
"Aging in place has always been a popular choice, but now the costs of that care are really starting to reflect the mismatch between the supply of care professionals and demand for their services as the population ages," said Gordon Saunders, Genworth Senior Brand Marketing Manager who manages the Cost of Care Survey. "The ever-increasing cost of long term care, even for care at home, makes it vitally important that individuals and families start planning for these costs well in advance of needing care."
Annual Median Cost of Long Term Care Support Services for Hawaii
|Home Health Aide
|Adult Day Health Care
|Assisted Living Facilities
Why In-home Care Costs Are Rising
In-home care providers consulted by Genworth point to several factors9 that are driving up the cost of in-home care:
The shortage of skilled workers – not enough care professionals to meet the increasing demand for in-home care – compounded by a tight labor market
The costs of complying with the new mandates in local, state and federal certifications and regulations, including revised minimum wage and overtime laws in some states
The shift in post-acute Medicare reimbursement, which is spurring hospitals to discharge patients sooner and with greater care needs.
About Genworth's 2019 Cost of Care Survey
Genworth's annual Cost of Care Survey, one of the most comprehensive studies of its kind, contacted 53,901 long term care providers nationwide to complete 15,178 surveys for nursing homes, assisted living facilities, adult day health facilities and in-home care providers. The survey includes 441 regions based on the Metropolitan Statistical Areas, defined by the Office of Management and Budget, and include approximately 85 percent of the U.S. population.
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