1. Resources
  2. /
  3. Senior care
  4. /
  5. Senior financial planning

Hawaii Financial Planning

It's never too early to start planning for your retirment and senior care. Read our tips on where you can find resources to help you in Hawaii.

Hawaii - Financial Planning and Management

Deciding a family member is in need of senior care is one thing; figuring out the financial cost of care is another task altogether. The cost of senior care is on the rise, and it is essential to have a plan in place with your family regarding the financial side of your loved one's care.  One of the best places to start is to figure out what kind of coverage your loved one has through insurance or retirement plans. You also need to decide what kind of care best suits the needs of your senior as costs will fluctuate depending on the level of care provided. To help plan for these difficult conversations, read our helpful article on Elderly Parents and Future Care Wishes.

Hawaii senior care costs are high.  According to Genworth Financial, the median yearly costs for senior care are as follows:

·         Assisted Living (private, one bedroom): $45,000

·         Nursing Home (semi-private room): $116,800

·         Nursing Home (private room): $125,925

Hawaii has many programs and resources in place to help seniors with the financial side of their care. The City & County of Honolulu has an Elderly Affairs Division, which provides helpful information regarding senior issues including long term care coverage, social security benefits, and frequently asked questions on senior finances.  For a complete listing of Hawaii's senior resources, visit www.elderlyaffairs.com.

More Resources

Senior Care Guide: Care.com's comprehensive guide to senior care that helps readers understand senior care options by describing each option in detail and answering frequently asked questions.

For more information on senior healthcare, visit our Articles and Resources page.

Looking for quality senior care in Hawaii? Check out the local pages below.

Honolulu

Pearl City

Lahaina

Leave a comment

Create a free account with Care.com and join our community today.

Related content

How much should you pay for a babysitter?