Alzheimer’s cost is staggering. An estimated 2 billion spent only $ 5.4 million Americans suffering treat the disease in 2012. By 2050, when as many as 16 million people will be tortured in the United States, the price tag is expected to jump to $ 1.1 trillion in today’s dollars, according to the Alzheimer’s Association.
In addition to the direct costs of care, friends and family members provide an additional $ 210 billion worth of unpaid care the – often career and saving costs. Here’s the story in their own words, these unpaid caregivers of Alzheimer’s patients and how to make ends meet under management under very difficult circumstances.
Special thanks report supports the American Public Media Bar LIC insight into the network in this story.
Long-term care insurance
“We Moved My father Gordon Lily care facility in October 2011 in addition to minor miscellaneous expenses from my father in the 1980s he purchased the monthly cost of two long-term care facilities covered by the policy. Dad may have Alzheimer’s disease, but physically he is very fit and he could in the long term a long period of long-term care at $ 3,645 each It may cost completely covered by a combination of the two policies. know ahead of time exactly what is covered and what is not in the long-term care policy. Also, make sure you know the insurance company is paid monthly limit. they are likely to be much lower the actual monthly cost of nursing homes. One or more policies may help cover ED life care, nursing facilities, home health care or adult day care. stop paying premiums to take care of you will not see in the future, such as adult day care or home care, once you have progressed to the stage of nursing facility care. “- Paul Lilly, senior, Colorado.
“I think it’s great, people talk about retirement planning for this type of disease. For most people, this is something behind them, after a few years of retirement ready. I fear that I will have early-onset Alzheimer’s disease, like my mom, so in my head, I think planning retirement age of 50, not 65 or 67 likeMy peers. I’m going in my 40, when my son graduated from high school to purchase long-term care insurance. I can not save my son’s college and my own retirement, long-term care insurance premiums and pay now. I was quoted $ 150 per month to $ 200 LTC insurance, which I put away each month the speed of my son’s college fund. I have also increased my retirement savings to 15% of my income, I have a 15-year fixed-rate mortgages. I should totally get out of debt before I turn 50. As a single parent family, it does crimping my available cash. I drive a 18-year-old car and take the bus, I pinch pennies by all possible means. “- Naomi Lund, Robbinsdale, Minn.
Give nursing homes
“In the case of my father, my brother and I hired an old lawyer threw me father of limited assets in an annuity paid to my mother. This is my ñ in turn enables us to put him in a nursing home Medicaid. Early on, the hardest thing is taking fiscal and driving duties away from people. Later, it had to make major medical decisions for them, because they can not. “- Catherine Vaccaro, Orlando, Florida,
” After my husband died in 2008, he was unable to work for four years, he was sick, I had to cut my time. My husband, long-term care insurance, I spent a year pay nursing assistant certification came in during the day, while I’m at work. He was in a nursing home the last six weeks of his life, but long-term care coverage does not pay for everything. I was short $ 1,500 a month. I know who was forced to divorce her husband, because they know they can not AFF Women ORD care, home care, this is a very sad thing. I would never do, not only because I do not think it does, but also because I would have to explain to my son, who was only 15 when my husband died. “- Diane Shaw, Denver
Power of attorney
“After the diagnosis of Alzheimer’s disease, it is very difficult to predict how the disease will progress quickly. Financial planning should begin as soon as possible after diagnosis, which comprises administering to a family member or friend who will ultimately be responsible for financial matters and staying power to govern the financial and medical affairs, medical power of attorney. CH-Soviet legal control can be a tricky issue, especially between spouses. it may be better to give such power to each other spouse, the the spouse with no diagnosis singled out. “-
Richard Rubin, St. Louis
” to ensure that the financial power of attorney document to be completed well in advance this also applies to medical instructions and. medical power of attorney. I want to say adult children is the best choice both as parents age. there are one or two things I think I’ve done earlier, because I was my dad’s POA, my name is added to him all financial accounts (with signing authority), while he was still conscious and able and I do it people this will save a lot of time and aggravation. “-
Paul Lilly, senior, Colorado more from Kipling: 6 Basic Alzheimer’s
“My mother died in 2008, my husband and I are self-employed effects on professional care files, so it is easy for us to become her mother’s caregiver, but it took a big toll on our finances because we take care of her mother at home, each of us spend a lot of time with her together, or pay close attention to (or her ears). this means, among other things, to hear her stir and adjust baby monitor to sleep. when we turn “on duty” in a night to help her, she tried to stand up but we do not sleep well, even at night, we did not call. All of these things combine to make us both much less productive in our work, therefore, we are much less, we can reduce the charge to the customer. we sell our home in order to move in with her mother, and help from some of the income, but only for a while. we have some little savings and investment. at one point, my brothers and sisters agreed to let mom “Pay” We (my husband, in particular) a small allowance – small enough to keep the gift tax was demanded of it by living with her mother saved us a bit (utilities, Mainly), but not nearly enough counter we can not get. “-
Martha John, Columbia, Missouri
” My husband’s mother has Alzheimer’s, so I know what to look for. When he started to forget how many times he was driving home from a place I know. When my husband retired, I moved my work, which means a very good salary. But when he started his own lock our house and let him put things, we moved back to Minnesota. I spent 50% pay cut to stay in Minnesota, working time, rather than travel, which seems to work for some time. But then he could not balance his checkbook, and he has been bragging about it right balance penny. He would sit for hours trying to balance it. I went to part-time work, but my salary is not worth it. I had to quit my job and take the railroad retirement pay as soon as possible, which is a quarter of my usual wages. Our monthly draining my 401 (k) money just to make ends meet. We did not have any insurance to cover the cost of any adult day care or assisted living. I also had to buy health insurance for myself, because I was not old enough health insurance. “- Rosina Haug, Little Falls, Minn.
Per risk nest egg-laying
“I can pay my husband respite services, we have purchased long-term care insurance for him, but after a three-month waiting period, he entered the factory, he He died just short of three months, so I pay for the care that period pocket. He was young, healthy, and his death was quite unexpected uninsured there may be a lot of expensive time of his stay in the facility longer I deduct medical expenses; medical help with drugs, until we hit the donut hole me and my her husband has built a. Good retirement savings, which could unravel his diagnosis before, we do not take action. “-
Jane Templeton, Evergreen, Colo.
” My mother, who is now 56 years old, suffering from dementia / Alzheimer’s disease more than seven years earlier. My father, who is also 56, is really struggling with various stages of the disease. Alzheimer’sDisease is a soul suck, painful process, after which the paramedics running out of their money, time and effort. My father would be very lucky to have my mother or any of his retirement money to stay, the time of her death. It’s a depressing thought, because unlike most of the previous generation, they have been trying to save to retire. Now before my dad could even retire, this could all disappear. “- Naomi Lund, Robbinsdale, Minn.
Make ends meet
“I retired three years EARLY health management position from $ 36,000 a year. Our retirement accounts is sufficient. We have more than $ 500 monthly distribution, in order to increase my social security benefits. We have at least five years of long-term care insurance, if placement becomes necessary. We use the $ 800 a month my wife’s social security benefits provided for her in hourly home health companion 10 hours $ 20 per week. It makes me gasp, can continue as needed. Buy long-term care insurance as early as possible, because it is needed the chance to get to deteriorate year after year. Check with the state social services have therefore been a patient of assets held to a minimum, in order to understand Medicaid funding requirements. “-
Lewis Wilson, Wichita, Kan.
” My mother died Alzh in August 2011 eimer We have arranged home care, five days a week. Otherwise, my father is the primary caregiver, my three brothers and my sisters help as we can. I usually stay with them on weekends. Medical reasonably comprehensive insurance coverage, and home health care is a pocket payments. The nature of Alzheimer’s disease appears to be familiar with the attention, which is a factor in the decision about where my mother lived in. We did a lot of preparatory work to improve the security and functionality, let her live in the house until the last moment. “-
Barry Romich, Wooster, Ohio
” My mom’s journey through Alzheimer’s disease. My parents and I moved with my mother deteriorated, my father could no longer take care of herself. With the support of my ^ husband, I resignedOff to work as a full-time caregiver. My parents worked hard all his life, raising seven children, but in the end, bit by bit, they’ve saved in a IRA and social security they get. We take the financial burden on my parents. My brother lives in the area, he and his family help as well. My life became a series of doctor’s appointments, two moms and dads, and run to the drugstore. Medical help. Medical help my mother to attend an adult day care center, every Monday morning, this is my breathing space. At the end of her life, a medical bed in the unit local nursing home dementia get through, and my own emotional and physical health, we have decided to move my mother. They only get her Social Security check each month. And my father, WHI Le he did not suffer from Alzheimer’s, heart disease and stroke have to suffer, so I was his caregiver as well. Here I came to understand what it means to financial planning my future I count this as one of my life “-
Pyrene Brin Benson, Highland Park, Ill.