Baby Boomers Urged to Plan Ahead for Possibility of Alzheimer's

With the number of Alzheimer's disease cases expected to triple in the coming decades, it is critical for baby boomers to plan ahead both with their finances and their families, according to a University of Michigan official.

Dr. Norman Foster, director of the Cognitive Disorders Clinic at the University of Michigan Health System, said Alzheimer's disease is one of the most expensive diseases to patients and their families because costs associated with it are covered by most health insurance plans, Social Security or Medicare.

"Alzheimer's patients can expect to incur between $250,000 and $400,000 in medical bills over the course of this chronic illness that can require many years of care," said Foster. "You never know what's going to happen in the future, but doing some good planning could make a big difference. It's important to talk about these issues early because patients themselves can have an opinion."

Foster urged people to begin planning during middle age for the possibility of Alzheimer's while affordable long-term care insurance can be obtained. He said the following questions are key: who will be responsible and named as the patient's durable power of attorney or advocate; where will care be provided; and how will the financial needs of the illness be met?

Foster recommends that family members become involved early in the process so that they can adjust more slowly to the changes and increasing demands that will be made on them.

Other sources: University of Michigan