Northington Blog

Covering The Costs Associated With Alzheimer’s Disease

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If you or a loved one have recently been diagnosed with Alzheimer’s disease, there are probably a million thoughts running through your head, not the least of which includes how you’re going to pay for medical care. The cost of living with a disease like Alzheimer’s can be extremely high even with health insurance, and many seniors find that they are at a loss when it comes to figuring out how to cover their bills. Even with Medicare, some individuals have a hard time making ends meet.

However, it doesn’t have to be that way. There are many options available for those who need to find a way to pay for medical coverage. From retirement savings to a life insurance plan that will help you along the way, there are several ways you can start planning now for your financial needs down the road. Keep reading to find out how.


Supplemental insurance


Many Medicare plans have supplemental options that will allow you to add onto existing coverage. These plans will expand to include more benefits, with anything from a longer stay at an assisted living facility to prescriptions covered. Do some research to find out what plans are available and how to take advantage of them; there may be specific requirements depending on your age and the state you live in.


Know what to expect


Once you’re 65 years old, Medicare will usually pay for up to 100 days of nursing home care, some prescription drugs and inpatient hospital care, but every plan is different. Knowing what sort of costs you can expect–and who will pay for them–will help you plan more efficiently for the years ahead, so do some research online and talk to your insurance rep if you have questions about your coverage.


Check your life insurance policy


Many life insurance policies offer benefits outside of end-of-life coverage; depending on the type of policy you own, you might expect to receive help paying for long-term health care costs without sacrificing the payout benefits owed to your family upon the event of your passing. Read on here for some great information about how these types of policies work and how to get the maximum benefit from them.


Plan for the inevitable


No one likes to talk about death, but and end-of-life plan is as necessary as it is difficult. It’s important to talk about your needs with your loved ones, so they’ll be better able to help you plan. Go over your living will and make sure you have all your wishes outlined so that your family will not only be prepared, but also well taken care of.


If you don’t already have savings set aside or if a new diagnosis impacts your existing plan to cover funeral costs, consider final expense insurance. Burial insurance works like a traditional life insurance policy, but it’s easier to obtain later in life and with health concerns. Payouts can be used to give you the memorial service you envision or to pay off any outstanding bills or debts.


Planning for the future can be an extremely stressful undertaking, so it’s important to stay on top of your self-care. Look for ways you can ensure that your mind and body stay healthy during this difficult time, and talk to your doctor about the best ways to keep stress at bay. With careful planning and some attention on your own needs, you can ensure that your long-term care isn’t something that will become an issue down the road.

Guest Author, June Duncan

June is the co-creator of Rise Up for Caregivers, which offers support for family members and friends who have taken on the responsibility of caring for their loved ones. She is the author of the upcoming book, The Complete Guide to Caregiving: A Daily Companion for New Senior Caregivers.

We have a great resource for Long Term Care Planning on our website, to learn more about this resource click here:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.