by Pam Ness
The recent study published by the Alzheimer’s Association is a wake-up call for the nation: the number of Alzheimer’s patients are increasing rapidly every year, and costs of care for Alzheimer’s disease are skyrocketing. Who helps pay for Alzheimer’s Care? The numbers are quite scary, as the growth in Alzheimer’s numbers may eventually bankrupt Medicare. According to the study:
- In 2016, total payments for health care, long-term care and hospice are estimated to be $236 billion for people with Alzheimer’s and other dementias, with just under half of the costs borne by Medicare.
- Medicare and Medicaid are expected to cover 68%, or $160 billion of the total health care and long-term care payments for people with Alzheimer’s disease and other dementias.
- Nearly one in every five Medicare dollars is spent on people with Alzheimer’s and other dementias. In 2050, it will be one in every three dollars.
It is likely that changes will have to be made in government funding to accommodate these booming numbers and costs. A policy shift to helping fund lower-cost supportive services for early and middle stage Alzheimer’s care at home can help delay the need for Medicaid to cover costly nursing home payments.
It is normal to read all the statistics and feel dread and anxiety about paying for Alzheimer’s care. The best antidote for these feelings is to get educated and proactively start planning for the future. Connecting with the expert care team at Eldercare Services is a great place to begin. Our Professional Care Managers will assess your situation and can help put a supportive plan of care in place for your loved one. We will maximize available resources and take some of the weight off of your shoulders. You are not in this alone! Allow us to partner with you, lessen your worries, and help take care of your loved one’s needs.