How to Finance Alzheimer's Care

Alzheimer's disease takes a toll on the entire family, not just on the patient. If you are caring for someone with Alzheimer's and it is becoming too much to bear, look into a managed care facility. These facilities can be expensive and you may be wondering how you will pay. Use these steps to learn of different ways to finance Alzheimer's care for your loved one.

Instructions

Difficulty: Moderately Challenging

1. Look at long-term care insurance if the patient has any. Many of these policies cover Alzheimer's care. If Alzheimer's runs in your family, you may want to consider a long-term care insurance plan, too.
2. Check into Medicaid. It is income-based, but often if the patient is retired or unable to work, he can qualify. Get information from care facilities you are looking into so you will know what the monthly rate will be and how much coverage you need from Medicaid.
3. Call your local VA office if the patient is a veteran to see if he has any benefits coming that may help with financing his care. This process can sometimes be long and if rejected don't get discouraged. Just work through the appeal process while you research other options.
4. Research options such as Disability Insurance, SSI, Medi-gap Insurance, retirement benefits, assets, Life Insurance equity, and community support options. Many communities have programs to help defer the costs of care and offer low or no cost services.

Tips & Warnings

• Carefully explain to the children in the patient's life what Alzheimer's is and let them know their loved one still loves them.
• Know how much your loved one can handle during visits. As the disease progresses, they likely won't remember you or many members of the family. This is heartbreaking for you, but confusing and frightening for them.