Survey: Alzheimer’s costs 25% of caregivers $4K every month

Here is more incentive to bring investigative Alzheimer’s treatments to maturity—approximately a quarter of caregivers with a family member diagnosed with Alzheimer’s disease or another dementia end up paying out $4,000 in disease-related costs on a monthly basis, according to a survey released today from AgingCare.com

More than 1,600 people were surveyed. The biggest costs were assisted living, professional home and nursing home care, and adult day care.

"Alzheimer's caregivers face some of the most astronomically devastating financial costs," said Joe Buckheit, president of the online resource center, in a press release.

More than 50 percent of respondees noted significant financial stress. Almost 30 percent reported a need to reduce their work hours to help care for their loved one and 25 percent had to quit altogether. About 61 percent of caregiver’s noted that their loved ones did not prepare for the possibility of the care that would be needed before they were diagnosed with dementia or Alzheimer’s. Fewer than half of the dementia sufferers discussed financial concerns with their families prior to diagnosis.

"Every day, Alzheimer's caregivers—many of whom are balancing the needs of aging family members with those of their own children—are confronted by impossible choices," added Buckheit.

About 51 percent of those with Alzheimer’s were still living at home. Caregiver’s reported that 64 percent were caring for a parent and 18 percent were caring for a partner. Aproximately 38 percent of caregivers reported that they provided more than 30 hours of unpaid care per week.

The most common advice provided by caregivers was to prepare early and to discuss all the possibilities ahead of time.