Simulation Shows the High Cost of Dementia, Especially for Families

Simulation Shows the High Cost of Dementia, Especially for Families

The cost of Dementia can be a huge strain on a family or individual. The cost for health care in this matter can change from year to year. Because of this, there is constant data being researched to provide an estimate of what the cost for care would be for an individual suffering from dementia, based on which type of care they receive. The research that is done is extensive and covers scenarios and simulations that include, age, number of children, and many other factors, and the cost for care fluctuates depending on what the sickness is that is being treated. Among these studies, research is also done to show what the difference in medical costs would be for an individual who was otherwise healthy. The difference is eye-opening. The people that are behind these studies hope that with all of their findings, they can urge policymakers to consider these costs and how much of a burden it can be on some families and individuals. Most people assume that their medical bill swill be paid by insurance, but this is not always true. As you age, you are prone to more diseases and sickness and it becomes harder to keep up with all of the many medical responsibilities that can come with poor health. This is what the researchers aim to have changed.

Key Points:

  • 1A new simulation of how the costs and the course of the dementia epidemic affect U.S. families finds that neurodegenerative conditions can more than double the health care expenditures of aging.
  • 2The total average cost to care for a person with dementia was more than $321,000 over about five years, compared to an average cost of $137,280 to care for the same person without dementia.
  • 3With about 5 million Americans living with Alzheimer’s disease and other dementias and more than 61 million baby boomers reaching the age of 65 or older by 2029, understanding costs is paramount.

The simulation shows how the costs of dementia shift year by year as people typically transition from informal care at home to institutional care in nursing homes.

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