A note appeared recently in my newsletter from the National Association of Elder Law Attorneys concerning a possible cure for Alzheimer’s. This report quoted a source from the Philadelphia Inquirer reporting on a panel discussion at a meeting of the Society of Actuaries.
The report noted that Doctor Roy Beveridge, an Oncologist who is Chief Medical Officer for the insurer Humana, informed the actuaries that he expected to see cancer cures before researchers are able to solve the mysteries of Alzheimer’s. This is unfortunate for victims and
families who have to deal with this devastating disease.
Alzheimer’s and related neurological disorders such as Parkinsons involve tremendous costs to the United States (Medicare and Medicaid) as well as individual families. The number of people with dementia and related neurological diseases, is likely to nearly triple by 2050 to 13.8
million people, he predicted.
As an Elder Law Attorney we see individuals requiring Medicaid assistance for long term care. As we have noted in other bulletins advance planning is very helpful for families dealing with both the care and financial aspects of these devastating, long lasting diseases. Advance
planning can help not only in the level of care but in conservation of family resources.