Caring for a loved one with Alzheimer’s disease or Dementia can be challenging and emotional. The costs of assisted living, nursing home care, and memory care continue to rise, many families struggle with the financial impact. More families are opting to keep their loved ones at home, but these family Caregivers often find that they have to stop working and living their lives because in order to provide the care their loved one needs. At this juncture you need to be available 24/7. They know what they need to do to care and supervise their loved one. Often not living your life is not the right solution. It results in exhaustion and resentment.
Because Alzheimer’s disease is a progressive disease, a person diagnosed with Alzheimer’s disease may live for several years – as many as 20 years, in some cases. As the disease progresses, however, a person with Alzheimer’s disease will require more care and assistance with activities of daily living (ADLs), or routine daily tasks such as bathing, dressing, meal preparation, and transportation are best left to skilled Caregivers.
The broad landscape of care options, services, payment sources, and financial implications can be overwhelming for many families. We prepared this information to aide family members understand the various care options for people with Alzheimer’s disease, as well as the financial implications and payment options. Below, as you read on, we will share our insight and tips on topics such as sources for Alzheimer’s care. Some financial planning tips, and other strategies for managing the cost of Alzheimer’s care.
Alzheimer’s Care Costs
- The cost of living independently with an informal caregiver skyrockets to five figures when a loved one is moved to a senior living community. “The family of a patient living independently or with an informal Caregiver earns about $850 a week. Once your loved one is moved to a health care facility; the families’ costs can skyrocket to $20,000 a month. This money goes toward adult daily care, nursing home or assisted living facility cost and fees, paid Caregivers such as Companions and home health Aides. This type of care can go on for years — one-third of Caregivers have been in their role for more than five years.
- Memory care is more expensive compared to traditional senior living options. This type of care by definition is more comprehensive. “Regular assisted living provides Seniors with personal care support, such as meals, help with bathing and dressing, and medication management. The typical cost is about $10,000 a month for a single resident, many facilities go quite a bit further to effectively provide care for those with Alzheimer’s or other dementias, with 24-hour supervised care for patients at all stages of the disease. Personal Senior Care Homes is the best option for residents that require this type of care and assistance. The fees we charge are much less and the care is far superior!
- Many people with Alzheimer’s disease end up on Medicaid to cover healthcare needs. “If you are one of the estimated 15 million Americans caring for a loved one with dementia, you know that it’s a uniquely devastating disease. Dementia—the most common form is Alzheimer’s—robs you of the person you love. It attacks memory, personality, language, and physical abilities. It can last for years, even decades. And it has no cure.
“The financial toll can be nearly as large as the personal loss. Over the last five years of life, the average out-of-pocket cost of care for dementia patients were nearly $100,000—81% more than for people without dementia—according to a new study in the Annals of Internal Medicine. Nearly half of the dementia patients ended up on Medicaid, the government health care program for impoverished Americans, compared to about 20% of patients suffering from heart disease or cancer.” For more information look to Time.com Money* Coping with cost of Dementia*
- Prescription medications add to the overall cost of care. “Regardless of the location in which the care is provided, many individuals with Alzheimer’s or dementia require prescription drugs. Consumer Reports finds that the average individual with Alzheimer’s pays out of pocket between $150 – $200 a month or more. Remember medications are not included in any assisted living options.
- Some Senior Living Communities specialize in memory care are more expensive than standard senior living options. “Relatives often try to place their loved ones in a facility dedicated and specializing in treating dementia patients. Those cost far more than a typical assisted living facility — up to several thousand dollars a month more, depending on the quality and location. But that’s typically a very expensive all-inclusive package. When there aren’t any available rooms in specialty units an Alzheimer’s patient often ends up in assisted living facilities that only cover the basics — food and shelter. In most facilities, any additional need comes with a price tag.
- Family caregivers incur costs associated with caring for a loved one with Alzheimer’s disease. “The average person giving care is a woman in her mid-forties, usually the daughter of the person with dementia. Statistics show that caregiving families are more likely to live in poverty — and that working caregivers may lose as much as $109 per day in wages and all benefits because of the demands of caregiving. Care usually begins with family members for many reasons. For one, families try to cover costs — in addition, many spouses and adult children simply don’t want a loved one in a facility if they can be at home.. We are like home with the added comfort of round the clock care, assistance and monitoring of residents in our homes. Most families that give this a try genuinely make the effort to soldier on. Statistics show this is not the best solution for a person suffering with this unforgiving disease or for the caregiver who is exhausted and often depressed. This is why we bring to your attention the option of Personal Senior Care Homes
- Unpaid caregivers account for an estimated 18.2 billion hours of care for loved ones with Alzheimer’s disease. “Caregivers of people with Alzheimer’s or other dementias are providing care for a longer time, on average, than caregivers of older adults with other conditions. Fifty-seven percent of family caregivers of people with Alzheimer’s or other dementias in the community report that they provided care for four or more years. “According to the 2017 Alzheimer’s Disease Facts and Figures report, in 2016, unpaid caregivers of people living with Alzheimer’s and other dementias provided an estimated 18.2 billion hours of care valued at more than $230 billion.”
- Nursing home care is not the only long-term care option for people with Alzheimer’s disease. “You have other long-term care options (besides nursing home care) available to you. Talk to your family, your doctor or other health care provider, a person-centered counselor, or a social worker for help deciding what kind of long-term care your loved one needs.
“Before you make any decisions about long term care, talk to someone you trust to understand more about other long-term care services and supports like the ones listed below. You might want to talk to:
- Your family
- Your doctor or other health care provider
- A person-centered counselor
- A social worker
Personal Senior Care Homes is highly recommended by several agencies that know what is involved in care. They recommend us for people that need constant loving understanding of their situation at this stage in life.
- There are three levels of care that a person with Alzheimer’s disease or dementia may need. “Levels of Care – In general, there are three levels of care that an individual may need — custodial, intermediate and skilled. These terms refer to the type and intensity of care that an individual requires.
Custodial care – is often referred to as basic or personal care. It assists a person with activities of daily living (i.e. assistance with bathing, eating, dressing and other routine activities). It is less intensive or complicated than intermediate or skilled care. Custodial care can be provided in many settings, including home, assisted living and nursing facilities. By definition, custodial care does not need to be provided by a skilled professional. Skilled professionals are defined as Registered Nurses, Physical Therapists, Speech Pathologists and Occupational Therapists. Dementia care is often time considered custodial care or basic care.
Intermediate care – is designed for people who require assistance with activities of daily living, some health services, and nursing supervision. However, intermediate care does not include constant nursing care. This level of care may include assistance with personal care, periodic health monitoring (i.e. monitoring of blood pressure or blood sugar levels) and medication reminders.
Skilled care – is for individuals who need 24-hour medical supervision, skilled nursing care, or rehabilitation, but do not need to be hospitalized.
Personal Senior Care Homes is dedicated to providing the best care possible for our residents. We employ skilled Caregivers, a full time Registered Nurse, an experienced Director with years of firsthand management of two full time occupied homes and now opening the third home. We are dedicated to the community and are available 24/7/365. Please call Steve Brock today for more information and a personal tour.