What's the Dollar Cost of Caring for a Loved One With Alzheimer's?

A study published in the Journal of the American Geriatrics Society says a loved one with Alzheimer's disease can cost their family between $144,000 and more than $200,000 over a two-year period, reports HealthDay News . The actual cost of informal care is unclear; when these costs are typically accounted for, researchers multiply the hours of care by the wage that paid home healthcare workers would earn, which tends to fall short of the real costs of care given by family members. University of Pennsylvania Professor Norma Coe says such costs totaled at least $277 billion in 2011. "As baby boomers age and policies shift long-term care towards the community, these costs will likely rise substantially," she predicts. Coe also observes that with the move away from institutional care, "it is important to remember the costs to the family and informal caregivers. Caregiving involves significant costs, in line with the costs of a nursing community." The Alzheimer's Association's Keith Fargo says caregivers for someone with Alzheimer's need training and time off, and support can include adult daycare and workplace policies that can help caregivers continue to work while they are providing care. He notes people should start thinking about the cost of caring for someone with Alzheimer's and how to manage before it happens, gauging long-term care insurance and options for care in their community.