How to pay for Alzheimer's care?

Question

My mom is on the early stage of Alzheimer's, but I'm aware of the fact that "early" won't be forever. What are some of my options for financing the cost of my mother's care when the time comes?

I am the only child and the only caregiver, so as well I know that won't be able to care for her properly when the disease will progress.

I have started looking for some facilities with professional dementia care. I discovered that cost of their services are rather high. I want to learn all the possible ways to pay for Alzheimer's care.

We live in Houston,TX,the USA.

Answer 1

The cost of Alzheimer's care depends on the facility that provides this care. Specialized facilities usually have higher costs than general geriatric care ones. Though there are several ways to cover the cost:

• Long Term Care Insurance
• Veterans Benefits
• Renting or Selling the House
• Medicare
• Medicaid

I think you'd better read the article http://www.autumngrove.com/blog/how-to-pay-for-alzheimers-care/ or learn their brochure http://www.autumngrove.com/wp-content/uploads/cost-of-assisted-living.pdf

Answer 2

See Paying for Care | Caregiver Center | Alzheimer's Association. Notable excerpts:

For most individuals 65 or older, Medicare is the primary source of health care coverage. However, private insurance, a group employee plan or retiree health coverage also may be in effect.
[...]
In addition to Medicare, the person with dementia may qualify for a number of public programs. These programs provide income support or long-term care services to people who are eligible. This includes Social Social Security Disability Income (SSDI) for workers younger than 65, Supplemental Security Income (SSI), Medicaid, veteran benefits, and tax deductions and credits.
[...]
Many community organizations provide low-cost or even free services, including respite care, support groups, transportation and home-delivered meals. You also may consider informal care arrangements using family, friends, neighbors, faith communities and volunteer groups.