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Tuesday, August 20, 2019
For Hawaii, Cost of Dying is Like Cost of Living
By Selected News Articles @ 11:40 PM :: 5626 Views :: Hawaii Statistics, Health Care, Cost of Living

The Cost of Dying in All 50 States

Expensive funeral costs aren't the end of it.

by Gabrielle Olya GoBankingRates, August 19, 2019

There are many reasons to celebrate getting older, but having to think about the cost of death isn’t one of them.

For starters, funeral costs can add up fast. The National Funeral Directors Association cited the median out-of-pocket funeral expenses for 2016 — including viewing and cremation costs — at $7,360. On top of that, the average out-of-pocket expenditure for end-of-life necessities is $11,618, according to the National Bureau of Economic Research.

One of the biggest factors impacting funeral expenses — and the cost of dying, in general — is the state where the death certificate is issued. Just like the cost of living, the cost of dying depends on where you reside.

GOBankingRates calculated the average costs for end-of-life medical care and funeral expenses in each state by multiplying the national averages for those services by every state’s cost-of-living index. The study also considered 2018 inheritance tax and estate tax data, sourced from the Tax Foundation.

1. Hawaii — $41,467

  • Average funeral expenses: $14,975
  • Average end-of-life medical costs: $26,492

Death in Hawaii is by far the priciest among all the states, as funeral costs average $14,975 and the benchmark for medical expenses correlated with end-of-life care is $26,492. The Aloha State doesn’t have an inheritance tax, but estates worth more than $11.2 million are taxed at a 10%-15.7% rate.

read … Full Report

FOX:   10 most expensive US states to die in

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