For loved ones with dementia, assisted living dementia care costs can be quite significant. Home care can cost around $1100 per week for a non-medical home health aide, while family caregivers can expect to spend about $10,697 per year on the household, medical, personal care, home help, travel, and legal expenses for those with dementia.
Understanding the costs of dementia care at home can give family members and elderly individuals a better idea of what to expect as the disease progresses.
Some assisted living dementia care costs include prescription medicines, care facility costs, safety devices, and more.
According to a 2021 AARP survey, around 50% of caregivers use their own money to pay for their loved one’s dementia-related household expenses. In addition, 30% paid for the rental or mortgage payments, 21% paid for home modifications, and 17% paid for medical costs, including health care, therapists, in-home care, or medical equipment.
As the disease worsens, dementia care costs can significantly increase. Out-of-pocket expenses that loved ones may have to pay include home modifications such as alarmed doors and windows, mobility assistance devices, nonslip flooring, walk-in tubs, and door handles and windows with higher locks.
Making your home safer can cost around $10,000. Other expenses that your loved one may have to pay for include medical treatment, day care services or full-time care services, personal care supplies, prescription drugs, and more.
The cost of nursing homes for dementia patients can cost around $7,756 per month for a shared room and between $8,821 to $10,562 per month for a private room. This is because specialized medical care can be expensive.
On the other hand, the cost of memory care is around $6,935 in the United States. Assisted living is slightly more affordable at about $5,380 a month on average. However, dementia care costs can vary depending on where you live.
The cost of dementia care at home varies depending on the needs of your loved one. As well as the benefits of aging in place, you can provide full-time or part-time care services for your loved one. This can be useful since their needs may change depending on the stage of their dementia.
On average, the cost of home care provided by a nonmedical aide is around $24 per hour in the United States. If you live in West Virginia and Louisiana, you can expect to pay approximately $16 per hour, while North Dakota charges care costs of $27 per hour.
The estimated cost of prescription medication varies greatly depending on the stage of Alzheimer’s they are in. Ideally, most medications should be provided as soon after diagnosis since they may delay the way the disease progresses.
The good news is that Medicare Part D can help cover the cost of prescription drugs and the majority of standard Alzheimer's medications are on Medicare's approved drugs list. Although the cost of medication may vary, Rivastigmine can cost up to $79.30 for a 30-day supply.
Another factor to consider when calculating the cost of dementia care is tracking devices and other safety solutions that can help protect your loved one. They often come with a monthly subscription plan, activation fee, or just a one-time purchase fee, depending on the item you buy.
The benefit of these devices is that they can often send aid to emergency services at the push of a button or alert family and friends through a data plan. Depending on your needs, you can expect to pay around $10-$50 a month for a subscription plan, although there are plenty of more affordable options.
In addition to the cost of dementia care facilities which tends to be the largest expense that most families budget for, there are other dementia-related medical expenses you should anticipate in the event that a person’s needs may change over time. This can include the following:
Here are some common questions about the cost of dementia care facilities for family members.
A person with dementia should consider going to a nursing home when they find it difficult to live alone without extensive medical care and assistance. Some signs include declining mental cognition, trouble dressing, bathing, and using the restroom.
Depending on the federal requirements in your state, Medicaid may cover some costs related to Alzheimer’s and dementia. On the other hand, Medicaid can cover all or a portion of a nursing home or long-term care costs for low-income individuals or families.
Medicare doesn’t pay for long-term in-home caregivers that provide personal care or housekeeping. However, it may cover the cost of short-term caregivers if you require medical care after an illness, surgery, or other industry.
Overall, dementia care costs can add up whether you’re looking at nursing home care, assisted living costs, or memory care. Managing these costs can be difficult, so preparing for them as soon as possible can provide greater peace of mind. Expect to spend around $10,000 annually on the cost of supporting your loved one.
Read on to learn more about the best type of dementia care facility for loved ones on Senior Strong today!
