The State of Hawaii is not yet participating in the federal/state partnership program but it does offer state tax incentives to encourage people to plan for the high costs of long-term health care.
This deduction is limited in the same manner as the deduction on the federal level, and is also only available to the extent that all medical expenses, including long-term care, exceed 10% of Hawaii Adjusted Gross Income instead of the Federal Adjusted Gross Income.
Long-Term Care Medicaid spend down is $2000. A spouse’s minimum asset allowance is $123,600.
A variety of products are approved in Hawaii for Long-Term Care planning.
|Home Health Aide||Average Monthly Rate||$5,720|
|Homemaker Services||Average Monthly Rate||$4,767|
|Adult Day Care||Average Monthly Rate||$1,647|
|Assisted Living||Average Monthly Cost||$5,500|
|Skilled Nursing Home||Semi-Private Monthly||$12,167|
|Skilled Nursing Home||Private Average Monthly||$13,657|