22 Apr Independent Survey Projects Dementia Care to Double by 2040
Based on an independent survey led by the RAND Corporation (financed by the federal government), it is projected that 9.1 million Americans age 71 or older will have dementia by year 2040. Presently about 15% of Americans 71 or older (3.8 million) have dementia.
The survey found the financial burden for dementia care to be at least as high as that of heart disease or cancer (and probably higher).
In the past, most-cited estimates of the conditions cost and prevalence came from an advocacy group – the Alzheimer’s Association. Although the estimates of the Alzheimer’s Association were higher, the staggering anticipated growth and costs shows that the U.S. is inadequately prepared for the coming costs of care and cases of dementia with the aging of the baby boom generation. The study found that $109 billion was spent in year 2010 alone for direct health care expenses for dementia. In the same year, $102 billion was spent on heart disease and $77 billion for cancer. No disease other than dementia is predicted to have such a huge increase. It is this author’s opinion that the emotional and indirect costs of dementia care would make these numbers far more mind-boggling.
For more information on planing for Dementia care costs or other long-term care planning, please call our Dallas office for more information (214) 720-0102.