Hawaii Long Term Care Insurance
This page covers important long-term care information for residents of Hawaii, including the average cost of long-term care (LTC), the costs of LTC insurance, popular companies offering LTC insurance in the state, and information about QUEST and other state programs which provide long-term care services and support.
Paying for Long-Term Care
Long-term care is expensive, and the costs associated with it can add up quickly. It is important to keep these costs in mind as you plan for your future long-term care needs, even if you don’t end up purchasing a long-term care insurance policy. This is especially true for Hawaiians, as long-term care insurance is in high demand in the state and the costs associated with it are higher than the national average. These high costs are a problem for many, with one survey reporting that 3/5 Hawaiians did not think they would be able to afford a full year’s stay in a 24-hour care facility. To help give you a better idea of the expenses you may face, below we have listed the average prices for some commonly used LTC services in Hawaii.
Average Costs for Common Long-Term Care Services in Hawaii:
- Nursing Home (private room): $376 (Daily)
- Nursing Home (semi-private room): $435 (Daily)
- Assisted Living Facility (private room): $4,250 (Monthly)
- Home Health Aide (X hours/week): $20 (Hourly)
The Costs of Long-Term Care Insurance
The cost of long-term care insurance is impacted by several factors and can vary greatly from policy to policy and person to person. How much you pay will change depending on the amount of coverage you select, the maximum amount of benefit the policy will pay per day, the maximum number of years (typically measured in days) that the policy will pay out, and the total amount that will be available through the policy. The length of the elimination period and the types of services covered by the policy will also influence the cost, as will optional extras such as inflation protection. Other, less-obvious factors can play into a policy’s cost as well. To learn more, please see our article on the subject.
- Average Yearly Premium for an LTC Insurance Policy in Hawaii: $
- Average Daily LTC Benefit Purchased in Hawaii: $162 (per day)
State Partnership Program
Hawaii is one of the few states that does not currently have a partnership program in place. Partnership programs are three-way collaborations between the state, the federal Medicaid program, and long-term care insurance companies. Policies issued as part of such programs are required to meet certain federal and state standards. These policies also help protect your assets from the spend-down requirements of Medicaid by allowing you to qualify for Medicaid coverage with a larger-than-normal amount of assets. The specific amount typically varies based on the total benefits paid out by your policy.
Medicaid, QUEST, and Other Programs
If you can’t afford a long-term care insurance policy or your coverage window ends but you still require care, Medicaid is a viable option. Medicaid is the federal and state health insurance program for people with lower incomes and can be used to cover basic long-term care services. Because Medicaid is designed for low-income individuals, certain financial requirements must be met in order to qualify for coverage.
Hawaii’s Medicaid program is known as QUEST, which stands for Quality care, Universal access, Efficient utilization, Stabilizing costs, and Transforming the way healthcare is provided to members. While at one point there were several sub-divisions of QUEST, the state has now brought them together under QUEST Integration (QI). A variety of long-term care services and supports (LTSS) are provided through this program and can be split into two main categories: home- and community-based services (HCBS), which include adult day care, assisted living, and home-delivered meals; and institutional services, which include nursing facilities and similar care venues.
In 2017, a bill was signed into law establishing the Kupuna Caregivers Program, an assistance plan named for the Hawaiian word for “elder”. This program provides up to $70 per day to help cover the costs of in-home long-term care. These funds can be used to hire home health aides, help secure transportation to/from medical appointments, pay for certain chores to be done around the house, and so forth. Other state programs that provide long-term care assistance but are unrelated to Medicaid include the Chore Services for Community Long-Term Care Program, the Senior Companion Program, and Kupuna Care.
Companies Offering Long-Term Care Insurance in Hawaii
Hawaii residents have a variety of long-term care companies and policies to choose from. Popular long-term care insurance companies in this state include Genworth, Mutual of Omaha, TransAmerica, and MassMutual. Please take a look at our articles on these insurance companies and others to learn more about their histories, reputations, financial strength, and the policies they offer.
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