A new report from the Alzheimer’s Association indicates this tragic disease should not only be feared by its symptoms but also be feared for what it costs. Latino Seniors (age 65 and older) with Alzheimer’s Disease (AD) or other forms of dementia suffer three times the health-care costs of contemporaries. This report released today called 2009 Alzheimer’s Disease Facts and Figures highlighted some chilling statistic and facts:
- As of 2009 5.3 million people have Alzheimer’s
- 148 Billion annual cost for Alzheimer’s care and treatment
- 9.9 Million unpaid caregivers
- A new case of Alzheimer’s is diagnosed every 70 seconds
- Alzheimer’s is the 6th leading cause of death passing diabetes
- Alzheimer’s is on the rise with Latino folks as diet-blood sugar levels begin to show associations with Alzheimer’s
An article in the Senior Journal states:
In the new report, total health-care costs are calculated as per person payments measured from all sources. Medicare payments alone are almost three times higher for Latino people with Alzheimer’s and dementia than for others age 65 and over; Medicaid payments alone are more than nine times higher.
The below chart Alzheimer’s Association 2009 Alzheimer’s Disease Facts and Figures shows the sheer cost of this disease to the health care system.
|Average Per Person Payments||Beneficiaries with no Alzheimer’s or Other Dementias||Beneficiaries with Alzheimer’s or Other Dementias|
|Private insurance payments||1,466||1,847|
|Other sources payments||211||519|
Growing cases of Alzheimer’s disease among Latinos and dementia are rising rapidly however, you can prepare for these prices and protect your assets and your family with an annuity. Now someone develops Alzheimer’s every 70 seconds, but by mid-century someone will develop Alzheimer’s every 33 seconds. With an annuity calculator, you can better predict how much your money will grow over time to cover expenses for care of Alzheimer’s. By 2010, there will be nearly a half million new cases of Alzheimer’s every year; and by 2050, there will be nearly a million new cases per year. With an annuity plan, you won’t have to be in fear of how to pay for care in the event of getting Alzheimer’s and your family will be at ease knowing you have the funds to be cared for. The number one cause for claims on long term care insurance policies is the Alzheimer’s risk and other forms of dementia and if the above mentioned trend continues this will continue to be the case. At LTC Tree we work with all the major blue-chip long-term care insurance carriers and help our clients shop the market to find the best value. If you’d like to get some annuity quotes and info mailed to you simply fill in this form. If you’d like to learn more about annuity rates, we will use the annuity calculator and design the best annuity plan that fits your budget. Read through our LTC 101 class for more information on how we can help you plan for the possible event of needing long term care services and how we can help you. Thanks for reading…we really appreciate it.