According to a recent report from the Alzheimer’s Association, one in nine Americans age 65 or older have Alzheimer’s Disease. With Baby Boomers entering their senior years and people living longer, that number could triple by 2050. And Alzheimer’s is just one cause of dementia.
Long Term Care in Cases of Dementia
Caring for someone with dementia is expensive. In fact, in many cases, in-home care is needed
over a longer time than for someone who does not have dementia. Unfortunately, the cost of in-home or facility care is prohibitive for many families. So, caregivers are often family members who sacrifice their own financial security and physical and emotional health to care for a loved one.
How to Pay for a Patient who has Dementia
As the disease progresses, so does the level and expense of care required for someone with dementia. Options range from:
- In-home care (which starts at $46,332 per year)
- Adult daycare (at least $17,676 per year)
- Assisted living facilities ($43,536 per year and up)
- Nursing homes ($82,128 per year for a semi-private room).
In California, where Skvarna Law Firm is located, these costs are higher yet, since the above statistics reflect national averages. Care for a person with dementia can last years. And there are few outside resources to help pay for this kind of care. In most cases, health insurance does not cover assisted living or nursing home facilities, or help with activities of daily living (ADL).
Medicare may cover some in-home health care and a limited skilled nursing home care. But Medicare does not cover the cost of long-term care. Medi-Cal covers some long-term care, but is available only to income-qualified individuals. In many cases, Baby Boomers do not fit into the required salary-range until their home is sold and assets are depleted. VA benefits for Aid & Attendance could help pay for some care.
Long-term Care Insurance in Cases of Dementia
In some cases, long-term insurance may also be an option, but many people wait until they are not eligible or the cost is prohibitive. And, as with other types of insurance, if you wait to subscribe until your time of need, you have missed the boat!
Financial Costs for the Family
Women spend approximately 50% more time providing full-time care than men. The financial impact on women caregivers is substantial. In one study, more than 60% of women surveyed reported they pay for care using their own savings and retirement funds. The expenses they cover include household, personal items, transportation services, informal caregivers and long-term care facilities. Almost half report having to change their own quality of life to pay for care.
Emotional and Physical Costs to Caregivers
In addition to the financial costs, caregivers report increased stress, anxiety and depression. And while most caregivers experience positive feelings about providing care for their loved one, almost half also experience depression, mood swings and resentment. They readily admit the event negatively affected their personal health and well-being.
In providing care to someone with dementia, levels of distress and depression increase compared to care-giving for someone without dementia. This is owed to many dementia-specific conditions, as people with dementia:
- Wander
- Can become aggressive
- Fail to recognize family members, even those caring for them.
We Can Help
As your local elder law attorney, we can assist families in obtain benefits that may be available to loved ones faced with such a Long-term care crisis.
About Skvarna Law Firm: Estate Planning, Elder Law, Probate, Trusts, and Wills
Skvarna Law Firm operates offices in Glendora and Upland, California and provides legal services for individuals living in San Bernardino, Los Angeles, Orange and Riverside Counties. This includes the cities of Upland, Ontario, Rancho Cucamonga, Fontana, Colton, Rialto, Chino, Chino Hills, Glendora, Claremont, Montclair, Pomona, La Verne, San Dimas, Azusa, Covina, West Covina, Diamond Bar, Walnut, La Puente, Corona, Norco & Mira Loma. Visit SkvarnaLaw.com to learn more.
