By Rick Law, Estate Planning Elder Law attorney at the multi-generational firm of Law Elder Law. Located in Aurora, IL, LEL is the home of the Estate Planning Center at Law Elder Law, serving seniors, boomers, and their families.
A recently published list shows us everything we need to know about the statistics of who is affected by Alzheimer’s disease. Too many people in all walks of life are affected by this debilitating disease, and the incidence of Alzheimer’s disease and related dementia are only projected to increase over the coming decades.
See the full report from Alzheimer’s.net
“The Cost of Alzheimer’s Care
- The cost of caring for Alzheimer’s patients in the U.S. is estimated to be $226 billion in 2015. (Alzheimer’s Association)
- The global cost of Alzheimer’s and dementia is estimated to be $605 billion, which is equivalent to 1% of the entire world’s gross domestic product.
- Medicare and Medicaid are expected to pay $154 billion in 2015 for health care, long-term care and hospice for people with Alzheimer’s and other dementias.
- Aggregate Cost of Care by Payer for Americans Age 65 and Older with Alzheimer‘s Disease and Other Dementias: Medicare $113 Billion, Medicaid $41 Billion, Out of pocket $44 Billion, Other $29 Billion.
Alzheimer’s in the United States
- 1-in-9 Americans over 65 has Alzheimer’s disease. (Alzheimer’s Association)
- When the first wave of baby boomers reaches age 85 (in 2031), it is projected that more than 3 million people age 85 and older will have Alzheimer’s. (Alzheimer’s Association)
- One-third of Americans over age 85 are afflicted with the illness. (Alzheimer’s Association)
- 5.3 million Americans are living with Alzheimer’s disease. (Alzheimer’s Association)
- Unless a cure is found, more than 16 million Americans will have the disease by 2050. (Alzheimer’s Association)
- Alzheimer’s disease is the 6th leading cause of death in America. (Centers for Disease Control)
- 1-in-3 seniors die with Alzheimer’s or another kind of dementia. (Centers for Disease Control)
- Typical life expectancy after an Alzheimer’s diagnosis is 4-to-8 years. (Alzheimer’s Association)
- In 2014, the 85-years-and-older population includes about 2 million people with Alzheimer’s disease, or 40 percent of all people with Alzheimer’s age 65 and older. (Alzheimer’s Association)
- By 2050, there could be as many as 7 million people age 85 and older with Alzheimer’s disease, accounting for half (51 percent) of all people 65 and older with Alzheimer’s. (Alzheimer’s Association)
- Proportion of People With Alzheimer’s Disease in the United States by Age: (Alzheimer’s Association) 85+ years – 38%, 75-84 years, 44%, 65-74 years, 15%, <65 years, 4%”
If your loved one has memory problems and you’re afraid of the consequences that may bring, give our office a call today at 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now.
Rick L. Law, Attorney, Estate Planner for Retirees.
Rick was named the #1 Illinois elder law estate planning attorney by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Call 800-310-3100 for your free consultation now!