The number of Alzheimer’s cases in Texas is estimated to increase by one-third by the year 2025, according to the 2013 Alzheimer’s Disease Facts & Figures report.
Alzheimer’s and Seniors in Texas
There are currently 2.6 million seniors living in Texas and that number is expected to double by 2030.
Alzheimer’s is the most common form of dementia in the United States, with more than 5 million people currently afflicted by the disease. The average cost of Alzheimer’s in the United States is between $157 and $215 billion annually. In the past year, it has surpassed cancer and cardiovascular disease as the most expensive illness in the nation.
Alzheimer’s Research in Texas and Beyond
While there is no cure to Alzheimer’s, many studies are being done throughout Texas in an attempt to decode the mysterious disease. One Dallas couple participated in one of many Alzheimer’s research studies at UT Southwestern in an attempt to slow cognitive decline.
The Texas Alzheimer’s Research and Care Consortium (TARCC) is an organization with physical sites around Texas that works to “improve early diagnosis, treatment, and prevention of Alzheimer’s disease.”
Caring for Loved Ones with Alzheimer’s
In Texas alone, 1.3 million caregivers provided 1.5 billion hours of unpaid care in 2012, valued at $18.2 billion, according to the recent report. While many family members volunteer to care for their loved one, it can quickly become overwhelming. According to a recent study, Americans who have been caregivers for loved ones called it both worthwhile and stressful.
If in-home care from loved ones isn’t an option, nursing homes are usually the next choice. The Texas Long Term Care Partnership program estimates the average cost of a private room in a nursing home is over $61,000 a year. Most people cannot afford to pay these costs of out pocket, and may end up exhausting their assets and eventually, relying on Medicaid.
Is There a Solution?
Long Term Care Insurance can’t help you avoid Alzheimer’s, but it can help you pay for treatment and care. A government study estimates 7 in 10 seniors will need Long Term Care at some point.
Investing in Long Term Care Insurance and planning for your future ensures that you do not burden loved ones with the task of your care. It will also help you protect your hard earned assets by avoiding the high cost of nursing homes or paid in-home care.
Texas provides many great Long Term Care Insurance policies through their Partnership program. Read more here.