The report was based on a survey of more than 3,500 Americans who contribute, or have contributed, to the care of someone with dementia.
“The cost of paying for care was putting people in a situation where they had to make really difficult choices around basic necessities — things like food, medical care, transportation,” vice president of constituent services for Alzheimer’s Association Beth Kallmyer told Kaiser Health News.
Below are six findings from the study.
1. In 2015, more than 15 million dementia care contributors, such as friends and family members, provided an estimated 18.1 billion hours of unpaid care.
2. In 2016, Alzheimer’s and other dementia diseases will cost the nation an estimated $236 billion. Medicare and Medicaid are expected to cover $160 billion, or 68 percent, of total healthcare and long-term care payments.
3. Friends and family of those diagnosed with dementia spent, on average, more than $5,000 a year of their own money on the care-related expenses, ranging from food to adult diapers.
4. More than one-third of these contributors to care who had jobs had to reduce their work hours or quit. On average, care contributors lose over $15,000 in annual income as a result of reducing work hours or quitting to meet the demands of caregiving.
5. To make ends meet, around 13 percent of care contributors had to raise money by selling personal belongings, such as a car.
6. Nearly half of the care contributors surveyed reported having to dip into their savings or retirement funds.
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