Alzheimer's Care: What Are the Costs?
Having an elderly parent or relative diagnosed with Alzheimer’s disease is worrying and stressful. You feel as though you are losing the person you love a little piece at a time as their memory and cognitive processes begin to fail. Alzheimer’s is a progressive condition, which means it gets steadily worse over time and at present there is no cure, although drugs are available to slow the progress of the disease.
One of the biggest problems facing families where a loved one is diagnosed with Alzheimer’s is the question of finances. Because all sufferers need increasing amounts of dementia care as the condition progresses, costs can escalate fast. That’s why it’s important to establish a plan of action as quickly as possible following diagnosis.
Arrange Financial Affairs
The first step is to gather family members together to arrange a plan of action. Elderly people are particularly vulnerable to being scammed, so taking control of your loved one’s finances is an important step in protecting his or her assets. Consult a solicitor and arrange for a trusted family member to be given Power of Attorney, which will allow them to make financial decisions on your loved one’s behalf.
Make a note of all the assets your relative owns. Trace all bank and savings accounts, and ascertain if there are any bonds, insurance policies or other investments that could be put towards care funding. Discuss with family members how much financial or practical assistance each person can offer. Depending on your circumstances, you may find you can cope with caring for your loved one between yourselves, at least in the early stages of the disease.
Consider Likely Expenditure
A person with Alzheimer’s will require prescription drugs to deal with symptoms and be required to attend regular medical checks. You will need to factor in the cost of travel to and from appointments, and include any medical expenses for other conditions unrelated to Alzheimer’s.
It is likely that you will need to spend money on making the home safe, so consider expenses such as a stair lift, safety modifications to the home and other equipment to make life easier for your loved one. You will also need to factor in money for personal care products and these costs will increase over time as the condition progresses.
Eventually, your loved one may need specialist residential care, but until then, if you plan to be the carer yourself, you need to consider periods of respite care to give yourself a break from time to time. Caring for someone with dementia conditions can be tiring and demanding, so be sure to build in downtime for yourself and other family members. Dementia care specialists can be employed for long or short periods to provide in-home care for your loved one, allowing you to go on holiday, for example.
Dulcie’s care story
Dulcie is one of our longest serving customers. In this video, she and her family talk through their decision to arrange care in the home rather than the care home.
Seek Local Authority Help
Your local authority will provide a free assessment of your loved one’s needs on request and will draw up a care plan for you. This will determine how much help might be available from state funding. If your loved one receives financial assistance, you do not have to spend this sum on local authority services and are free to arrange private care if you prefer.
The NHS has a Continuing Healthcare scheme, which can provide financial assistance for your loved one, but it is a complex system to navigate and you have to be prepared to fight your case. It is worth persevering, though, as the financial assistance can be helpful for families who are struggling with the cost of elderly care.
Live-in Care at Home
Even if your loved one can manage at home with just a little help from family members at first, eventually they will need more extensive assistance. Care homes have been receiving a lot of bad press recently, leading more and more families to look for alternatives, and there are now dedicated private care companies which can provide your loved one with a live-in carer.
Because the caregiver is carefully matched to your loved one, they become a friend and companion as well as providing much-needed assistance throughout the day and night. Family members find it reassuring to know that their loved one is receiving 24/7 care, which allows a degree of independent living while ensuring complete safety at all times.
Many of those with Alzheimer’s find it reassuring to remain in familiar surroundings but left to their own devices they can forget to eat and bathe themselves. They can be prone to wandering off, and then forget how to find their way home again. Having someone on hand to help with personal care, cook nutritious meals and take them on social outings is a wonderful way of ensuring that your loved one remains safe and happy in their own home.
Dementia Live-in Care: How Do I Pay for It?
If your loved one is living with dementia, it can be difficult to work out how to pay for the care they need. Enabling them to remain in their own home with 24/7 support from a live-in carer is the ideal situation and there are various ways this can be arranged.
Live-in Dementia Care or Care Homes: What's the Difference?
People with dementia experience many problems, both with memory and with cognition. Alzheimer’s disease is the commonest form of dementia, but there are other types including vascular dementia and dementia with Lewy bodies. People with Parkinson’s disease can also develop dementia. Whatever your loved one’s specific diagnosis, if they are living with this condition, they are almost certain to need care and support as it progresses.
Dementia Live-in Care: What Are the Costs?
Dementia can have an overwhelming impact on a family’s finances. As many as 750,000 families are caring for a loved one with dementia in the UK, and many of these are not eligible for the financial help they need. Of all the people who receive care, 41 per cent have to fund this themselves. It is likely that the same percentage applies to those who need Alzheimer’s care.
Elderly Care at Home: What Are the Costs?
It’s a huge worry when our loved ones become unable to cope on their own. Whether you live nearby or at the other end of the country, many people experience a feeling of helplessness that they are unable to provide the level of support that a relative requires, along with a desire to help to find an appropriate solution to the problem.