Leads to Focus on Medicare Supplemental Health InsuranceMarch 2008
When the Alzheimer's Association released its yearly report this week, they did it with a bang, suggesting that the disease will claim about 10 million Americans now nearing retirement age, and boost medical insurance costs to such heights that
Medicare supplemental health insurance is likely to become quite a hot commodity.
Bloomberg reported the study and its findings, revealing that "Alzheimer's disease will claim about one in eight baby boomers in their lifetime, or about 10 million Americans." As a result, Medicare spending for Alzheimer's will jump to $38 billion in 2025, when those born between 1946 and 1964 start to reach the median age for nursing home admission.
And, unless new and less expensive treatments are developed, out-of-pocket costs for family caregivers will go up too. Now the question is this, when Medicare doesn't cover nursing homes, or even new, cutting edge medications, what can a person or family member do?
They can get Medicare supplemental health insurance as soon as they are eligible, with an eye towards the eventuality of needing to provide themselves with extended care. The report said that 7.7 million people will have Alzheimer's by 2030, a 48% rise from 2008, and as
medical insurance costs go up Medicare isn't likely to cover large quantities of care.
Facts on:
Alzheimer's Prediction
Did you know...
According to the Alzheimer's Association, 7.7 million people will have the disease by 2030, a 48% rise from 2008?
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Other hopeful measures include researching the disease in an effort to stop, if not delay, its progress. Such a move could save taxpayers and families a great deal of money in medical insurance bills and care-giving; but such advances are still some time away, and it's better to be prepared today for what could be a difficult and emotionally draining situation later.
Patients with Alzheimer's and other dementias cost Medicare almost three times more than patients without the disease, a sad fact that will make Medicare supplemental health insurance in even more popular safety net in the years to come.
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