If you have a parent or another loved one with Alzheimer's or dementia, it's important to know the various expenses that you're likely to incur. They can add up quickly, and the more financially prepared you and your family can be, the better! Here are some categories of expenses to plan for.
You are likely to incur a variety of medical costs when a loved one develops Alzheimer's or dementia. While there is no cure, treatments are always being created. Some of the different medical costs to consider include doctor visits, follow-ups, and prescription drugs. To get a better idea of what expenses will be, talk to your loved one's doctor.
Many different care costs will need to be considered, and this is based upon the individual's situation. You might decide to go with home care, which might also involve bringing out a home nurse from time to time. You might also want to look at senior daycare as well as nursing home facilities. As home care becomes too difficult, you're going to need another option. It's a good idea to do the research and find out what the different costs are to help you with the decision.
To give you and your family a better idea of the costs to expect, refer to our guide: Home Care Pay Options.
Personal Care & Safety Items
As your loved one loses coordination and memory, they will need various aids to daily living. These might include dining aids, daily reminder products, and items to keep them from falling and wandering. Necessary home modifications could include adding grab bars and stairway railings.
Home Renovation Costs
Seniors with Alzheimer's or dementia, whether they live at home or move in with you, will need modifications to their home to provide a higher level of comfort and safety. Modifications might include a step-in tub, handicap bars in the bathroom, orthopedic bedding, and much more.
Every situation is different, and you will need to consider what needs to be done to provide a safer and more comfortable living environment.
For more information about the costs of Alzheimer's, refer to our Family Caregiver's Guide to Alzheimer's & Dementia.