Rising Elderly Nursing Costs

Japanese people are among the longest living people on the planet. With people living longer, more elderly care is needed.

According to statistics on long-term care benefit expenditures for fiscal 2022, the cost of resident nursing care services increased 158.6 billion yen year on year to 10.9 trillion yen. Preventive care for those with less serious conditions rose by 3.4 billion yen to 283.1 billion.

The average annual cost per care recipient was 203,100 yen, an increase of 3,500 yen. The average cost of preventative care for those not requiring resident care was 27,900 yen. (source - Ministry of Health, Labor, and Welfare)

By prefecture, the highest average expenditure was 223,700 yen in Tottori, followed by 216,100 yen in Okinawa, and 216,100 yen in Ishikawa. In fiscal 2022, the total number of those requiring resident nursing care rose by 123,000 year on year or 2.2%. 

The number of recipients of nursing care or home support as of April 2023 was 7.2 million, and increase of 60,000 year on year. The number recieving resident nursing care in that same time was 5.5 million, a year on year increase of 100,000.  Women outnumber men at 3.8 million to 1.7 million.  In-home support services recipients were the largest number of users (3.9 million), equipment rental (2.8 million), outpatient day care (1.6 million), and home visits (also 1.6 million).

Japan's mandatory LTCI (Long Term Care Insurance), that every person 40 and over into, was started in 2000. The amount of the premium is based on income. Everyone, regardless of income, has the same benefits. Benefits can be accessed starting at age 65 and all services require a 10% co-pay. 

I imagine elderly care is expensive everywhere, but I wonder about how other countries compare with Japan.