”Medicare is a lifeline for seniors and the disabled, paying for “medically necessary” costs such as hospitalization, surgery, chemotherapy, transplants, medications, pacemakers and other interventions… A dementia diagnosis demands none of that. What it does require, however, is around-the-clock “custodial care,” such as help with eating and dressing, and constant supervision. That’s not covered by Medicare. And it’s extraordinarily expensive, according to a report released last month by the Alzheimer’s Association…Families’ out-of-pocket costs for a patient with dementia are 80 percent higher than the cost for someone with heart disease or cancer, according to a 2015 study in the Annals of Internal Medicine.
How much can families expect to spend caring for those with dementia? The story says 60 BILLION (yes that’s not a typo-60 BILLION) based on a report from the Alzheimer’s Association. That doesn’t include those who have early onset Alzheimer’s.
The options are few for those with this diagnosis. Long Term Care Insurance, paying privately, Medicaid quite possibly, but really not Medicare unless there is a hospitalization. Forget home care or memory care being covered by Medicare, the article notes.
This is not a new issue but it’s certainly becoming a bigger issue with the significant number of Boomers. Read the article. It’s important!