Financial Management Guide for Alzheimer’s Caregivers – Sterling Journal-Advocate

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Not only is Alzheimer’s disease the seventh leading cause of death, it is among the most financially devastating illnesses we and our loved ones will ever encounter.

Although each person facing Alzheimer’s disease or other forms of dementia may approach the disease differently, there are a range of care options that need to be understood. To help families anticipate the options available to them, the Alzheimer’s Association is offering a free webinar in July: A Caregiver’s Guide to Managing Money.

Alzheimer’s Association experts cite the following median costs for long-term care services in 2022:

• Home care: A paid non-medical home health aide costs $28 per hour and $1,113 per week (assuming 40 hours of care per week).

• Day services for adults: $80 per day.

• Assisted living facilities: $4,635 per month or $55,620 per year.

• Semi-private room in a residence for the elderly: $268 per day or $97,747 per year.

• Private room in a nursing home: $306 per day or $111,657 per year.

Part of a series of webinars offered in July, The Caregiver’s Guide to Managing Money will feature tips for managing a loved one’s finances, how to prepare for future care costs and the benefits of early planning. The webinar will be offered from 11 a.m. to 1 p.m. on Tuesday, July 26

Other free Alzheimer’s Association webinars scheduled for July include:

• Dementia Conversations – 11:30 a.m. to 1 p.m. Wednesday, July 13. Tips on how to have honest and caring conversations with family members about going to the doctor, when to stop driving, and making legal/financial plans.

• Effective Communication Strategies – 11:30 a.m. to 1 p.m. Tuesday, July 19. This workshop teaches caregivers to decode the verbal and behavioral communication of a person with Alzheimer’s disease and other dementias. Develop strategies for having meaningful connections with people at different stages of dementia.

• Understanding and Responding to Dementia-Related Behaviors – 11:30 a.m. to 1 p.m. Thursday, July 21. Behavior is a powerful form of communication and one of the primary ways people with dementia communicate their needs and feelings as the ability to use language is lost. However, some behaviors can present real challenges for caregivers to manage. Join us to learn how to decode behavioral messages, identify common behavioral triggers, and learn strategies to help intervene with some of the most common behavioral challenges of Alzheimer’s disease.

• A Caregiver’s Guide to Money Management – ​​11 a.m. to 1 p.m. Tuesday, July 26. If you or someone you know is struggling with Alzheimer’s disease, dementia or another chronic illness, it’s never too early to put some financial plans in place. Join us to manage the money. This free educational program from the Alzheimer’s Association will include tips for managing someone else’s finances, how to prepare for the costs of future care, and the benefits of planning early.

Like all Alzheimer’s Association programs and services, webinars are free, but registration is required. To register, call the Alzheimer’s Association’s toll-free 24/7 helpline at 800-272-3900. To learn more about Alzheimer’s Association programs and services, visit www.alz.org.

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