Manage money, plan ahead after getting an Alzheimer’s or dementia diagnosis

Reggi Marion
·2 min read

BATON ROUGE, La. (BRPROUD)—The healthcare costs associated with treating Alzheimer’s disease can create financial hardships for families.

“It is a very, very costly disease. It’s very expensive. It can be considered the most expensive disease in the United States,” said Delores Hurst, executive director of the Alzheimer’s Association Louisiana Chapter.

The Alzheimer’s Association estimates the average out-of-pocket cost of healthcare for someone with dementia can exceed $10,000 a year. In Louisiana last year, there were 200,000 family caregivers totaling $4.8 billion in expenses.

“That’s counting those people that we can count. We don’t know those who are undiagnosed or those who are, um, maybe diagnosed but refusing to go into treatment,” she said.

Hurst explained that she is dealing with Alzheimer’s in her own family.

“I have an aunt who I consider undiagnosed right now, and in the Black community it’s pretty much stigmatized to kind of admit when we have Alzheimer’s or any of the dementia,” said Hurst.

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During her work, Hurst said she speaks with other families going through the same thing.

“A wife reached out to me and she was like, I don’t know what to do. … He’s sleeping at the business. I know I have to do something with the lawyers. I know I have to change the business in his name. My sons and my kids don’t live in this state. They don’t want to come down because they’re like, ‘I can’t deal with Dad right now because I just — I can’t fight him. I don’t want to fight him,'” Hurst said.

That’s why it is important for families to plan, especially if a loved one is showing early signs of Alzheimer’s.

Hurst said, “100%, get your business in order. Get your life insurance policies done. Get all of those things. Estate planning, wills, make sure you have trusts in place.”

Hurst suggested creating a checklist and reviewing your healthcare coverage. Find out what’s covered and what is not. Also, learn the difference between Medicare and Medicaid and what they will pay for and look into long-term care insurance policies.

She said to be sure and let your loved one be a part of the decisions.

“You want to keep the dignity of your loved one,” Hurst said. “You want to make sure that they’re still have decision making power in their lives, because guess what? They still want to be respected. They still want to be loved.”

The Alzheimer’s Association is there for any family that needs help. “They can find all of the information on our chapter at alz.org/louisiana,” said Hurst.

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