Dementia Caregiving Expert Lydia Chan Offers Guidance On How Families Tackle The Sometimes Daunting Task Of Covering The Cost Of Alzheimers Care
For many Americans whose lives have been touched by Alzheimers disease, figuring out what comes next can be stressful or overwhelming. There are many things to consider when it comes to finding quality care, not the least of which is figuring out how to pay for the cost of Alzheimers care. The stress that can come with facing so many medical bills and not knowing where to turn can lead to depression and even suicidal thoughts, so its imperative to know what the options are and how to find help.
The key is to start with your own finances. If you are retired, take a look at your current income as well as your health and life insurance policies these may be of help if you have to look into long-term care. Its also important to look into Medicare and Medicaid to find out how much theyll cover when it comes to receiving treatment or in the event of hospitalization.
Mental And Emotional Costs Of Dementia Care
Dementia caregivers report more anxiety and depression, higher levels of stress, and lower well-being than non-caregivers, according to an Alzheimers caregivers study by researchers at the University College of London.
Richard and Lizz, like many unpaid dementia caregivers, are part of the sandwich generation. That means they simultaneously care for an elderly loved one and a child or young adult. Almost three-quarters of sandwich generation caregivers are employed full-time, and most spend three or more hours each weekday on eldercare, according to the National Caregiver Alliance . Thats 21 hours of unpaid caregiving on top of a 40-hour workweek.
Were just fried a lot of the time. My wife does so much. Usually, she has to make a separate plate for grandpa for dinner since there are a lot of foods he cant eat anymore, says Richard. It can be hard getting the kids to do homework and also taking care of him, especially since the kids dont really understand why he asks the same questions or gets to eat whatever he wants.
If youre feeling overwhelmed by the emotional toll of caring for a loved one with dementia or begin experiencing symptoms of caregiver burnout, consider exploring these support groups to connect with other caregivers who can empathize and remind you youre not alone.
How Much Does Memory Care Cost In Georgia
On average, a memory care community in Georgia costs about $4,000 per month. Youll generally pay more in areas such as Atlanta and Savannah, while care in more rural regions tends to cost less. Higher-quality dementia care communities often charge more, but they offer services that can more greatly improve health and quality of life. Over time, this may actually help you save money, by reducing healthcare costs, for example.
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What Is A Memory Care Community
Unlike memory care facilities, memory care communities offer a warm, vibrant environment where your loved one with Alzheimers can find meaning and connection. Think of them more like safe, secure and intimate neighborhoods where everyone knows your name and everything you love and need is always close by.
There are few things that give a person purpose as much as being a part of a loving community. Community provides friends to lean on during the tough times, to celebrate with during the good times and, perhaps most importantly, to help you overcome feelings of loneliness common amongst older adults. For those with a dementia diagnosis, holding onto those connections in a place where they can receive personalized care is key to staying independent for as long as possible. This is where memory care communities come in.
Its really the difference between home and not home, says A.J. Cipperly, National Director of Memory Care at AlerisLife. Home means different things to different people, but at its core, home is a place that is familiar, filled with people I know and care about its a place where I have control and independence and find comfort. A memory care community brings those elements of home into the building so that it isnt home-like, but it IS home.
Whats the difference between a memory care community and an assisted living community?
What is it like to live in a memory care community?
How much does a memory care community cost?
Alzheimers Resource Locator Tool
Our websites database contains information on over 300 programs that provide financial assistance or reduce the cost of caring for the elderly. Many of these programs are specifically applicable to those suffering from Alzheimers, dementia or other related memory disorders. One can search specifically for programs relevant to them by entering their demographic information into our Resource Locator Tool.
Eldercare Financial Assistance Locator
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Tips To Save On Memory Care Costs
Helping your family save a little bit can go a long way. Here are three tips to cut costs.
Helping Residents Connect Through Faith
Dan began the Bible study group about five years ago as a way to connect with residents outside of his usual role running the communityand as a way to practice his faith. I came to know the Lord about 12 years ago, says Dan, who grew up Catholic. That Five Star supported my starting the group says a lot about the company and its commitment to finding ways to help residents feel connected and letting team members ply their own creativity.
As many as 10 residents have met every week for most of the past five years. The group Dan started is an example of how Five Star team members go beyond their professional roles to get to know residents personally, the better to meet their needs. In Dans experience, Bible study seems especially well suited to connecting with people who have dementia. Theyve gone from a lifetime of activity to limited activity because of their dementia, he says. But God can still reach them.
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How Much Does Alzheimer’s Care Cost
Alzheimer’s disease is progressive, and as the disease gets worse – more costs may be incurred. There are still basic costs to consider in the earlier stages of the disease, and it is helpful to keep the big picture in mind while remembering that costs can vary at different times, depending on the person’s general health as well.
Medical insurance or other care programs may cover some or part of these costs, but may not cover the costs in their entirety. Costs can include:2
- Ongoing medical treatment or therapies for Alzheimer’s-related symptoms
- Costs of diagnostic tests and evaluations
- Testing, treatment, or assistive devices for other medical conditions
- Home modifications
- Home health aide costs
- Full-time residential care facility costs
Costs can vary widely depending on the geographical location and the person’s overall health, as well as how much medical insurance covers. There are also costs incurred from lost wages if the person develops cognitive symptoms before retirement.
In addition, if family members take on caregiving roles and give up their career or take the person for appointments and leave work to do so, those are also lost wages.
Using Reverse Mortgages For Alzheimers Care
The decision on whether or not to use ones home, through a reverse mortgage, to help pay for care is not an easy one. In many cases, it does not make good economic sense, but in other situations it does.
Reverse mortgages come due one year after the homeowner moves from their home. Given that most individuals with Alzheimers will eventually require residential care, it becomes a question of how many years until that point. Should one be at the early stage of the condition and wont require residential care for 5 years, a reverse mortgage might make good sense as a funding resource for occasional assistance around the home. However, if one might need to move within 2 years, a reverse mortgage would be considered an expensive source of funds. The exception to this rule is when the individual with Alzheimers has a healthy spouse who will continue to live in the home when the spouse with Alzheimers moves into a care facility. In this situation, a reverse mortgage could be a sound decision.
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Seeking Out A Professional
Seeking out a professional financial counselor, as well as a lawyer who specializes in these kinds of situations, might be highly beneficial.
This can be overwhelming, and each state can vary in what is allowed and what is necessary to have, and these professionals will be able to guide you through the process and provide ongoing assistance if needed.
How Much Does Alzheimers Care Cost
Whether you decide to have care on a visiting or live-in basis, you will be supported by compassionate carers who are experienced in supporting people living with dementia. All of our carers undertake rigorous training when they begin working for us to ensure that they are best placed to help our customers live life to the fullest in their own home. Added to that, we are fully regulated by the Care Quality Commission and the Care Inspectorate Wales, meaning you can be fully confident in us to provide a fully managed and regulated service to you or your loved ones.
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Alzheimers Visiting Care Costs
Visiting care prices vary. You will have a bespoke quote created for you by one of your local care team once they have assessed your needs and requirements.
- Prices start from £22.29 per hour for one-to-one personal home care
- Flexible costs for visits lasting 30, 45 or 60 minutes
- Prices depend on your location and specific care needs, with differences for overnight care and support provided during weekends and bank holidays
- Free home visit from your local care specialist to assess your needs and ongoing support from a dedicated contact to ensure youre happy with our service
Assistance For Veterans With Alzheimers
While the VA does not have programs specifically for individuals with dementia or Alzheimers, there are benefits available through other VA programs that are available and relevant to veterans with these conditions. A pension benefit known as Aid and Attendance can provide the greatest amount of financial assistance. Up to approximately 2,230 / month in some cases. There is also VA Respite Care and other assistance available through Veterans Directed Home and Community Based Services.
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Cost Of Memory Care By State
The location, level of care and type of facility you choose will affect the cost of memory care. Nationwide, adult day centers are typically the most affordable option for memory care approximately $1,603 per month while nursing homes are the most expensive, at $8,821 per month. However, average costs vary significantly by state.
Alabama has some of the most affordable senior living services in the country. According to Genworth, adult day centers in the state of Alabama cost $655 per month on average. Alaska, on the other hand, has some of the most expensive senior living services in the country. Nursing home care in Alaska costs approximately $37,413 per month, according to Genworth.
The most affordable states for memory care options:
- Adult day health care: Alabama, at $655 per month
- In-home health aide: Louisiana, at $3,241 per month
- Assisted living: Missouri, at $3,000 per month
- Semiprivate nursing home: Oklahoma, at $5,323 per month
The most expensive states for memory care options:
- Adult day health care: Alaska, at $3,055 per month
- In-home health aide: North Dakota, at $5,529 per month
- Assisted living care: Delaware, at $6,690 per month
- Semiprivate nursing home: Alaska, at $36,378 per month
Whats Included In The Price Of Alzheimers Care
Housing, meals, and 24-hour care for seniors with dementia are standard in memory care facilities, which is sometimes called Alzheimers care. At a minimum, memory care communities should offer a safe, secure, intentionally designed environment for their residents, but most communities also provide memory-enhancing therapies and specialized opportunities for socialization.
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Starting Base Rental Rate
In addition to the base rental rate, you may be responsible for other fees, including a one-time fee that covers admission and apartment preparation, which can range from $385 to $6,100.
* The pricing listed is for informational purposes to educate on typical costs in senior housing. Specific community pricing may vary and may be outside of the typical range noted.
*Numbers were sourced from Caregiving in the US, 2015 Report from AARP Public Policy Institute The Shriver Report: A Womans Nation Takes on Alzheimers 2016 Alzheimers Disease Facts and Figures from the Alzheimers Association.
Making sure your loved one receives the care they deserve is important, but navigating the cost can feel overwhelming. The good news is there are several programs and third-party vendors who can help alleviate some of the stress of paying for senior living. For eligible seniors, these programs can provide assistance to help offset certain costs.
How To Pay For Memory Care
Given the high cost of memory care, it’s no surprise that many people worry about how they’ll pay for these services. There are a number of ways you can pay for memory care, and which option is right for you depends on the type of care your loved one needs and their financial situation.
Here are some of the ways people commonly pay for memory care.
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Do You Get Money For Having Dementia
There is no easy answer when it comes to whether or not you get money for having dementia. It depends on a number of factors, including the severity of your condition, your country of residence, and your financial situation. In some cases, you may be able to receive government benefits or assistance from private organizations. In other cases, you may need to rely on your family or friends for support. Ultimately, it is important to speak with your doctor or a financial advisor to get a better sense of what options are available to you.
Alzheimers disease or another dementia affects 10% of Americans over the age of 65. According to the Alzheimers Association, a dementia patients lifetime care cost was $357,297. In the early stages of dementia, there is less support, whereas in the middle and late stages, there is more. The average monthly cost of memory care communities in the United States is $4,266. A person with Alzheimers disease can live for up to five years and incur nearly $300,000 in health care costs alone. Inpatient hospital care and some doctors fees are typically covered by Medicare for people with dementia. Medicaid is not in charge of managing the general fund for some states dementia funds.
Does Medicaid Cover Memory Care Costs
Medicaid provides health care coverage to eligible elderly adults, people with disabilities, and others.
For facilities that accept Medicaid, some long-term costs are covered. Locations that offer Medicaid beds only set aside a limited number of them and memory care communities do so less often than other senior care provider facilities that accept Medicaid. Since Medicaid is funded jointly by each state and the federal government, coverage varies from state to state.
Some adult day care costs, primarily for low-income seniors, may be covered by the Program of All-Inclusive Care for the Elderly , a partnership between Medicare and Medicaid.
Although Medicaid requires a spend down before qualifying, a spousal protection rule enables healthy spouses some asset protection. The amount of protection varies from state to state.
Find out more specifics about Medicaid benefits at Medicaid.gov.
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Choosing A Memory Care Facility
You can start the search at AARP and the Alzheimer’s Association’s Community Resource Finder, an online directory of senior care services. Click on “Housing Options,” select a type of residence and enter your zip code the results will include information on whether the facility provides memory care.
Once you’ve narrowed down your choices, experts recommend visiting each memory care residence on your list several times, including at least one unannounced visit in the evening, when staffing is thinner. Here are some factors to consider during your search.
Layout and physical environment
Is the facility clean and pleasant? Does it have circular hallways, so residents don’t get frustrated by dead ends? Are rooms and doors clearly labeled to help residents find their way around? Is there an enclosed outdoor area with walking paths? Do residents seem happy?
Staff
The COVID-19 pandemic has left many long-term care facilities nationwide badly short-staffed. Ask about shortages at communities you visit and keep an eye on how staff members interact with residents: Are their needs met quickly? Is there a nurse who works in the building? What kind of dementia-specific training do employees receive?
Ask how they manage a person who becomes aggressive, suggests Laura Gitlin, dean of the College of Nursing and Health Professions at Drexel University and coauthor of the book Better Living With Dementia. They shouldn’t be relying on antipsychotic medications.
COVID-19 policies
The Costs Of Memory Care Per Month
Costs for memory care vary widely depending on where you live and the type of care your loved one needs. In states like Georgia, Missouri, and North Carolina, you may be able to find memory care within the $3,600-$4,000 range per month. On the other hand, memory care in states like Delaware, New Jersey, and Alaska may run around $7,000 per month.
The type of care you choose also makes a difference. Memory care communities that provide accommodation, round-the-clock nursing care, and all meals are likely to be more expensive than home care. The amount and type of assistance that your loved one requires may also make a difference in the total costs.
Fortunately, some resources are available to help with memory care, and you may be able to take some tax deductions or credits, depending on your location and your financial situation your tax accountant can tell you more.
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