Global Increase in Alzheimer’s Compels Focus on Long Term Care: Report
A new report focused on dementia and long term care shows the number of people with Alzheimer’s is set to nearly triple by 2050 and the caregiver system intended to support these people is in need of significant reinforcements over the next decade.
Increase in Dementia Patients
The World Alzheimer’s Report released this year revolved around long term care for dementia patients and documented the associated costs and estimated global impact. The report, produced by Alzheimer’s Disease International and funded by international health care group Bupa, includes different suggestions for both governments and consumers about how to address the anticipated increase in Alzheimer’s and dementia.
According to the document, more than 101 million people in the world currently need some form of long term health care. That number is expected to climb to more than 277 million in the next 37 years, as medical technology continues to improve and help expand human life expectancy.
Currently, half of aged adults receiving long term care services suffer from dementia. The report estimates that by 2050, 50% of all the world’s aged adults will require care for dementia. The organization responded to these alarming statistics with some suggestions for governments and consumers in a time of financial uncertainty.
How to Alleviate Burden
The report recommended that governments around the globe formulate and implement national plans to address Alzheimer’s and dementia. The United States has already accomplished this, adopting a National Alzheimer’s Plan in mid-2012, and funneling more monetary funds towards Alzheimer’s research.
The report also emphasizes the importance of a patient’s autonomy and quality of care, in an effort to ensure the patient and caregiver’s voices are heard by health care professionals and insurance companies. Shifting to a more home-centered system will help patients remain more comfortable in their care setting and will significantly reduce costs.
The total global cost of dementia now totals more than $600 billion annually, making it clear that this is no small issue that will simply go away if ignored. Too many people attempt to ignore the risk to their own detriment, and often end up spending through their assets just to pay for care.
Consider Your Own Care
Because there is no standard financing of long term care in the United States, it is important that individuals begin to plan for their own long term care needs. Identifying your individual risk based on family history and other factors will help you plan in advance and could save you a lot of money. Long term care insurance is a financial tool that many are using to protect their hard earned savings and ensure they will receive the type of care they prefer, in case they ever need care.
Alzheimer’s and dementia can be especially detrimental, both financially and emotionally, and preparing for the costs ahead of time can help you navigate a care situation much more easily. Learn more about the risk of needing long term care or get a free comparison of the top long term care insurance providers today.