Alzheimer’s disease can cause financial hardships for families with loved ones that are affected by the condition. According to the Alzheimer’s Association, in 2016 the U.S. spent $236 billion caring for people with Alzheimer’s and other types of dementia. Most of these costs were borne by Medicare and Medicaid. Dementia treatment expenses are projected to jump to $1 trillion per year by mid-century.
“All the Medicare, Medicaid, and healthcare costs are going to devastate us financially, and we’re just not going to be able to handle it….”
Rudolph Tanzi, Ph.D., a professor of neurology at Harvard Medical School
Elizabeth Arledge, an award-winning director, has created a new documentary called “Alzheimer’s: Every Minute Counts,” which examines the public policy issues associated with the planned increase in the number of Alzheimer’s patients. The documentary airs on PBS on Wednesday, February 1, at 10 PM ET. You can learn more about the documentary at the PBS website.
Many of the families that I meet with have a loved one that suffers from Alzheimer’s or another form of dementia. Fortunately, most of these individuals had the foresight to create a Durable Power of Attorney (DPOA) before their dementia stripped them of the capacity to create such a document. Start 2017 off the right way by giving your family the peace of mind that comes with knowing that you have a will and durable power of attorney.