Alzheimer’s Costs Significantly Increasing in 2018 By 20 Billion Dollars
Alzheimer’s costs in 2018 are going to significantly increase by 20 billion dollars compared to 2017, reports the Alzheimer’s Association.
Alzheimer’s Costs: Who Pays?
Medicare and Medicaid will be paying the bulk of these costs. For example, $186 billion will be paid for by Medicare and Medicaid, according to the Alzheimer’s Association, . In addition, $60 billion will be out-of-pocket costs and $30 billion will be related to other costs. This total does not include costs associated with unpaid caregiving.
Long term, the outlook is not good. Total payments for Alzheimer’s healthcare, long-term care and hospice care are projected to increase to more than $1.1 trillion in 2050 (in 2018 dollars).
Alzheimer’s Costs: Early Diagnosis Offers Benefits
Early diagnosis of Alzheimer’s during the early mild cognitive impairment stage could save as much as $7.9 trillion in healthcare costs.
Early intervention provides better disease management and improved quality of life. There are fewer complications from other chronic conditions and unnecessary hospitalizations are avoided.
Moreover, earlier diagnosis could save individuals approximately $64,000 each. Nevertheless, costs still would average $360,000 per person, according to projections.
Other points made in the reports:
- Deaths from Alzheimer’s disease increased by 123% between 2000 and 2015.
- An estimated 5.7 million Americans have Alzheimer’s dementia now. 96.5% of this total are seniors aged 65+.
- Seniors aged 65+ with Alzheimer’s is estimated to increase by 29% to 7.1 million by 2025. That age group with Alzheimer’s people aged 65+ will triple to 13.8 million by 2050, barring the development of medical breakthroughs.