Dealing with Dementia, Part 4 of 4: Cost to the Nation
As a nation we have begun to recognize the devastation that dementia has caused and will continue to cause. In fact we see it all the time as dementia & Medicaid planning attorneys . Organizations such as the Alzheimer’s Association have been effective in lobbying for money to be put towards the research of dementia treatment, prevention and reversal. The cost of dementia to our nation has been a great motivator for politicians to fund such research.
According to the Alzheimer’s Association, the cost to the nation in 2015 were approximately $226 Billion. The majority of the costs associated with dementia are for institutional and home-based long-term care and not medical services. Medicare and Medicaid pay for some of this cost, which amounts to a taxpayer burden. According to the Alzheimer’s Association, nearly one in every five Medicare dollars is spent on persons with Alzheimer’s or some form of dementia.
It is clearly in the best interest of the nation’s economy to continue research on prevention, treatment and reversal of dementia.
Throughout this series we have learned about what dementia is (see Part 1: Dementia Defined) and how the costs of dementia can be devastating to many. In Part 2 we explored costs to the affected individual, in Part 3 costs to their family and in part 4 costs to the nation. While scientists continue to search for solutions to the debilitating condition, millions of families affected with it continue to deal with the challenges it presents. It is recommended that those families seek emotional support by way of a therapist or support group. In addition, seeking out an Elder Law attorney can benefit the affected individual and family members in several ways. Elder law attorneys can guide families to important resources available for the financial burden and other difficulties they will face. Elder law attorneys can also ensure that the family’s assets are being used in the most efficient manner considering other available resources and the family’s individual goals.
Getting an Elder Law attorney involved in planning for the challenges ahead is one of the MOST important steps a family facing the impact of dementia will take. If you or someone you know is affected by dementia, we can help and we welcome the opportunity to do so. Call or email us today to schedule a free initial consultation and learn how our experience can help you plan well for your future.