It will cost more than $202 billion to care for America’s estimated 5.4 million individuals with Alzheimer’s disease, and it’s projected to rise to $1.1 trillion a year by 2050, according to the Alzheimer’s Association’s “2012 Alzheimer’s Disease Facts and Figures,” reports CNN.
These staggering numbers are “unsustainable,” says Dr. William Thies, Chief Medical and Scientific Officer with the Alzheimer’s Association, in the article.
Medicare and Medicaid currently pay roughly 70% of the costs associated with caring for Alzheimer’s patients, which adds up to $140 billion. But those costs do not include treating the many other chronic conditions these patients often have, some of which can be exacerbated by having this form of dementia. For example, the report says a senior with Alzheimer’s and diabetes costs Medicare 81 percent more than a senior citizen who only has diabetes.
…At the same time, the number of caregivers is equally staggering. According to the report, there are 15.2 million family members and friends of Alzheimer’s patients caring for more than 4 million people with the disease. Those caregivers provide 17.4 billion hours of unpaid care valued at more than $200 billion dollars.
Read the full article here.
Written by Alyssa Gerace