PAYING FOR DEMENTIA CARE

2015 Cost of CareThe costs of health care, long-term care and hospice for individuals with Dementia and Alzheimer’s are enormous. In fact, Alzheimer’s is one of the costliest chronic diseases to society.

Total payments during 2015 for all individuals with Alzheimer’s disease and other dementias are estimated at $226 billion. Medicare and Medicaid are expected to cover $153 billion or 68% of the total health care and long-term care payments for people with Alzheimer’s disease and other dementias. Out of pocket spending is expected to be $44 billion or 19% of total payments.

Given the exponentially increasing costs of dementia care, understanding potential payer sources and options can be extremely beneficial.

Common payment sources include:

Using long term care insurance to pay for dementia care

LONG TERM CARE INSURANCE

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Using medicare and medicaid to pay for dementia care

MEDICARE & MEDICAID BENEFITS

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Using veterans affairs benefits to pay for dementia care

VETERANS AFFAIRS BENEFITS

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Using community care programs to pay for dementia care

COMMUNITY CARE PROGRAMS

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Using life insurance conversions to pay for dementia care

LIFE INSURANCE CONVERSIONS

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Use of Long-Term Care Services by Setting

Most people that live at home with Dementia or Alzheimer’s receive unpaid help from family and friends. Some people also use paid home care and community-based services, such as personal care and adult day care. A study on Seniors needing to perform activities of daily living such as dressing, bathing, shopping and managing money, found that those who also had cognitive impairment were more than twice as likely to receive paid home care as those without cognitive impairment. Moreover, those who had cognitive impairment and received paid services used almost twice as many hours of care monthly as those without cognitive impairment.

  • Home Care. According to state home care programs, about 37% of seniors receiving non-medical home care services, such as personal care and companion care have cognitive impairment consistent with dementia.
  • Adult Day Services. 32% of individuals using adult day services have Dementia or Alzheimer’s and 73% of adult day services programs offer specific programs for individuals with Alzheimer’s and Dementias.
  • Assisted Living. 42% of residents in assisted living facilities (specifically housing that includes services to assist with activities of daily living, such as medication management and meals) have Alzheimer’s disease and other dementias. 40% of residents in residential care facilities, including assisted living facilities, have Alzheimer’s and other dementias.
  • Nursing Home Care. Of all Medicare beneficiaries age 65 and older with Dementia and Alzheimer’s, 31% live in a nursing home. Of all Medicare beneficiaries residing in a nursing home, 64% have Alzheimer’s disease and other dementias.

Source: Alzheimer’s Association 2015 Alzheimer’s Disease Facts and Figures

Top-Rated Home Care and Support for Dementia & Alzheimer’s Patients

Dementia Helpers offers specialized home care and support services to Alzheimer’s and dementia patients throughout Chicago and the North Shore suburbs including both Cook County and Lake County. We provide our in-home dementia care and specialized memory care services to residents of Arlington Heights, Buffalo Grove, Chicago, Deerfield, Des Plaines, Evanston, Glencoe, Glenview, Grayslake, Gurnee, Highland Park, Fort Sheridan, Highwood, Kenilworth, Lake Bluff, Lake Forest, Libertyville, Lincolnwood, Lincolnshire, Morton Grove, Niles, Northbrook, Park Ridge, Round Lake Beach, Skokie, Vernon Hills, Wilmette and Winnetka.

We are backed with the resources of one of America’s largest and most trusted home care service organizations.