As you and your family evaluate your long-term care needs for dealing with Alzheimer's disease, it is important to consider financing options including health coverage, Medicare, and Medicaid. Long-term financial planning is important for everyone -- but is essential if you are coping with the expense of a long-term illness, such as Alzheimer's disease. Many people pay careful attention to their health after they are diagnosed with Alzheimer's. They research their treatment plan, take their medications on schedule, and consult with their physician regularly. However, it may take some time for patients and caregivers to realize that a progressive illness like Alzheimer's can have a tremendous effect on their financial well-being.
This article offers some basic information on how to handle your finances while living with Alzheimer's disease.
Developing a Plan
Alzheimer's disease gets worse over time, and dealing with a progressive illness is difficult. There is no way to know how you will feel or what you will be able to do days, months, or years from now. But for your own security and that of your family, you need to plan ahead, knowing that Alzheimer's disease will lead to increasing disability. There are professional financial managers and medical lawyers who deal with financial planning for people with long-term or progressive illnesses. Ask your doctor for a referral, or speak with a national association or support group to find a reputable professional in this area.
Medical Coverage
If you are insured, either through your employer or a retirement policy,
read all of the policies pertaining to long-term/progressive illnesses. If you
are unsure about the language or terminology, contact the personnel department
or your financial planner.
If you are unemployed and you do not have coverage, you should look for the
highest level of coverage that you can afford. The Alzheimer's Association may
be able to give you a list of insurers with a high level of Alzheimer's
coverage.
If you are 65 or over, you qualify for Medicare. You can supplement this
insurance with a "Medigap"
policy available through a private insurer. Note also that many states have
prescription assistance/reimbursement programs for low-income senior
citizens.
If you are disabled but too young to qualify for Social Security, you may
be eligible to receive a form of Medicare for the disabled.
If you cannot get insurance and your income is low, you may qualify for
Medicaid, a government "safety net" program that pays for medical costs that
exceed a person's ability to pay.
Dementia is a significant loss of intellectual abilities such as memory capacity, severe enough to interfere with social or occupational functioning. There are different criteria classification schemes for dementias such as cortical, subcortical, progressive, primary, and secondary dementias. Other conditions and medication reactions can also cause dementia. Dementia is diagnosed based on a certain set of criteria. Treatment for dementia is generally focused on the symptoms of the disease.
Alzheimer's disease is a common cause of dementia. Symptoms and warning signs of Alzheimer's disease include memory loss, difficulty performing familiar tasks, disorientation to time and place, misplacing things, and more. The biggest risk factor for Alzheimer's disease is increased age. Treatment for Alzheimer's is often targeted toward decreasing the symptoms and progression of the disease.
Most often, caregivers take care of other adults who are ill or disabled. Less often, caregivers are grandparents raising their grandchildren. The majority of caregivers are middle-aged women. Caregiving can be very stressful, so it's important to recognize when it's putting to much strain on you and to take steps to prevent/relieve stress.
Caring for a loved one or patient with Alzheimer's can become a difficult and overwhelming task at times. This guide helps caregivers of individual's with Alzheimer's deal with communicating, bathing, and dressing; as well as problem solving with incontinence, sleeping, wandering; and coping with difficulties Alzheimer's patients present.
impairment in another area of thinking such as the ability to organize thoughts and reason, the ability to use language, or the ability to see accurately the visual world (not because of eye disease), and
these impairments are severe
enough to cause a decline in the patient's usual level of functioning.
Although
some kinds of memory loss are normal parts of aging, the changes due to aging
are not severe enough to interfere with the level of function. Many different
diseases can cause dementia, but Alzheimer's disease is by far the most common
cause for dementia in the United States and in most countries in the world.
What is Alzheimer's disease?
Alzheimer's disease (AD) is a slowly progressive disease of the brain that is
characterized by impairment of memory and eventually by dist...