How much does it cost to take care of a dementia patient?
It is undeniable that dementia is one of the leading diseases found in most elderly, middle-aged people around the globe. Generally, dementia isn’t a single disease but an overall term that covers a wide range of specific medical conditions similar to the term heart disease. Under the general term “Dementia,” there are various disorders caused by abnormal brain changes.
The brain changes are severe enough to impair daily life, independent functions and decline cognitive abilities. While there are many types of dementia, a patient can have, but the most common one includes Alzheimer’s, Lewy bodies, and vascular dementia.
However, despite the various suffering associated with dementia, the patient also faces catastrophic care costs that are often hard to bear. Often, the patients require support from the government or family members to avail themselves of Dementia care services.
But what is the exact cost of taking care of a dementia patient? Today’s blog will discuss the dementia patient cost in detail and let you know the ways that can help you to take care of a dementia patient effectively.
Paying for Dementia Care
Dementia can be complex and involves symptoms that require tailored support, which raises the cost bar of dementia care services. The cost can rise up to 15% more than the standard social care, and in some cases, can extend up to 40%.
Therefore, paying for dementia care can be a burden if you don’t have any calculations in mind. Dementia care must add to your financial planning that helps you save your amount for any unforeseen circumstances. But what does it cost?
Dementia care cost varies depending on various factors discussed below.
1. In-Home Dementia Care Cost
Almost 90% of the senior patients are reluctant to leave their homes as long as possible. This put more burden on family members that acts as a caregiver for their loved ones. Despite the burden, the responsibility of taking care also increases. Therefore, it is obvious that families will require in-home dementia care services for the patient. Depending on where you live and the level of need required, the cost can be anywhere from around $24/hour to $33/hour.
2. Emotional & Professional Care Cost
There is no standard emotional and professional care cost of taking care of dementia patients. As the families have more burden to take care of dementia patients, despite the presence of a part-time caregiver, it can lead to emotional stress. This is because most of the family members are either full-time employees or young adults. This can ultimately increase the cost as the familiar isn’t receiving any dementia care services.
3. Nursing Home Cost
A nursing home is a smooth yet expensive way to take care of a dementia patient. Adult take care and nursing home provide dementia care service that gives relief to the families that are suffering from stress and anxiety due to taking care of dementia patient. And this is for a good reason. If you aren’t in a good state of mind, then you can’t take care of your loved one.
Therefore, the nursing home becomes the best place for dementia patients where they can recover under the supervision of experts. While the adult care ranges from $36 to $80 per day, the nursing home can cost up to $5000-$25000 per month, depending on your state.
4. Other Medical Cost
Other than dementia care service cost, a big factor involved in the health care of dementia patients includes medical assistance. The dementia patient needs to schedule an appointment with the doctor, consultants and go through the number of medical tests that require a certain amount. While this cost can vary as per the condition of the patient, but on average, it takes up to $1000 to $5000 per month.
How to Pay for Dementia Care?
Once you know the cost that you need to bear in order to take care of a dementia patient, it is obvious that you may need to know the payment options you get to cover it up. While payment options are not unlimited but the following top ways can be used to cover the dementia care service cost.
1. Medicare
Medicare is one of the most viable options for you to take care of a dementia patient. If a patient qualifies for Medicare, then they get financial assistance for up to 100 days where 100% of aid is provided for the first 20 days while 80% cost is covered for additional 80 days. This can be a frustrating limit but is helpful for an initial level of a dementia patient.
2. Government Medical Loan
Usually, government-supported medical assistance isn’t helpful in many states due to the high nursing home cost and limited medical loans. However, this is an affordable option for those who are permanent employees and looking to cover the cost of dementia care service.
3. Health Care Insurance
If the patient or any close family member like daughter or son has a health care policy, then dementia patient can get financial relief to some extend. Health insurance will cover the cost of the medicines and reduce the financial burden. However, it is highly dependent on the health care insurance term and conditions.
Financial Assistance for Dementia Patients
While the above options indicate how the financial help for a dementia patient is limited, but you can pre-plan the things to avoid the situation. You can also get financial assistance for dementia patients by the following methods.
- Community Support- There are many community organizations working to provide assistance to dementia patients. Mostly they provide low-cost or even free dementia care services. You can take part in the local community programs and contact NGOs to avail of the services.
- Retirement Benefit- The retirement plans can provide the funds needed to the people for dementia care anytime. Even the pension benefits can also be availed before the time if the person requires to cover dementia or any other disease cost.
Employees Benefit- If it is an earlier stage of dementia, then people can continue working, and avail employees benefit given by the employers. This usually covers dementia care service costs, medical costs, and even nursing home charges.
