NH Named 9th Most Expensive State for Aging Adults

New Hampshire is the 9th most expensive state in the nation for aging adults, a new Caring.com report shows. The Granite State fared far better for elderly and caregiver support (#12) than for senior care costs (#45).

Wyoming, Rhode Island, New Jersey and Hawaii also topped the list of the least affordable states for seniors, especially those in need of some assistance, such as in-home care or assisted living.

As elderly adults are living longer and their adult children assume a greater share of their care, the issue of senior care costs in the area where their parents live becomes increasingly important. Oklahoma is the most affordable state in the nation for aging adults, according to the Caring.com report. The study ranked the affordability of all 50 states for adults who are 65 and older, using 11 financial metrics.

“One of the most frequent questions we hear from adult children looking for senior care for a parent is ‘How much will it cost?’ followed by, ‘How do we pay for it?’,” said Caring.com Vice President Tim Sullivan. “We want to encourage folks to plan for these costs sooner rather than later, and to help spread awareness about the resources -- or lack thereof -- for both seniors and those caring for older adults in their state.”

The study looked at each state’s cost of living index, availability of senior health care programs and support for family caregivers, and the average costs of senior care. It found that there was not always a correlation between a state’s senior care costs and supportive policies and programs for the elderly and caregivers. For example, Mississippi, the second-cheapest state for seniors, ranked #35 for elderly and caregiver support. And Massachusetts, one of the priciest states for senior care and cost of living (#46 for both), ranked third for such programs.

Sources:

Data from senior care facilities and in-home care providers (Caring.com)

2017 Cost of Care Survey (Genworth)

2017 Long-Term Services & Supports State Scorecard (AARP, The Commonwealth Fund and The SCAN Foundation)

2017 State Level Cost of Living Index (The Council for Community and Economic Research)

About Caring.com: With more than 3 million visitors per month, Caring.com is a senior care resource for family caregivers seeking information and support as they care for aging parents, spouses, and other loved ones. Headquartered in San Mateo, CA, Caring.com provides helpful caregiving content, online support groups, and a comprehensive Senior Care Directory for the United States, with more than 165,000 consumer ratings and reviews and a toll-free senior living referral line at (800) 325-8591. Connect with Caring.com on Facebook, Twitter, Google+, Pinterest, LinkedIn, and/or YouTube.