Alzheimer’s is one of the most expensive health conditions in the U.S. More than 5.4 million Americans currently suffer from the disease and the cost of caring for those Alzheimer’s patients will exceed a quarter trillion dollars this year alone. According to a recent article in the Huffington Post: “Rising Numbers of Alzheimer’s Patients Could Bankrupt Medicare”, total costs in the last five years of life for people with Alzheimer’s and other forms of dementia amount to approximately $341,000 – 57% higher that the costs for those without the disease. By 2050 as the number of Americans with Alzheimer’s doubles, the annual of cost of caring for those with Alzheimer’s is expected to rise to $1.1 trillion. At some point, Medicare and Medicaid – which cover about two-thirds of the total Alzheimer’s related medical costs – will “single handedly collapse.” Something needs to be done to address this issue before significant cuts are imposed.
Paul Osterman, a professor at the MIT Sloan School of Management, recently wrote an opinion piece in the Wall Street Journal where he offers an explanation for the high price of home health care. With costs of around $20 per hour, understanding why home health care costs so much can hopefully help make it more […]
A study released last month from Merrill Lynch and AgeWave (“The Journey of Caregiving: Honor, Responsibility and Financial Complexity”) examines the emotional, functional and financial implications of caregiving. While 7 out of 10 Americans turning age 65 today will need “care for prolonged periods” and 1 out of 5 likely to need care for more […]
I’m often asked if I specialize in elder law. Not only do I answer “yes”, I typically try to explain the reason for my answer. While there are many attorneys who claim to be elder law attorneys, certainly not all specialize in it. I believe an attorney who claims to specialize in elder law should […]