Alzheimer’s disease is a devastating form of Dementia that affects both the afflicted and his or her loved ones. The whirlwind of events and emotions brought about by this disease can cause a turmoil to the whole family. Because of that, it is important to stay calm and know which insurance coverage will fit your loved one with Alzheimer’s.
Let’s identify several ways to help one aid in financial and emotional issues related to Alzheimer’s. By knowing which options can help you sustain your loved one’s needs, the worry and burden will dramatically decrease.
If your loved one is already 65 years old, he or she eligible to become a Medicare beneficiary. Medicare covers most medical treatment for beneficiaries with Alzheimer’s.
Medicare Part A and B
Medicare Part B will pay about 80 percent of ongoing medical care to diagnose and treat Alzheimer’s disease which includes visits to primary care doctors, lab home health care and outpatient counseling services tests, speech and occupational therapy. You will pay the remaining 20 percent.
Medicare Part A with about $1,216 deductible and coinsurance covers inpatient hospital care. It also covers 100 percent annual wellness visits which include cognitive impairment tests.
In the final stages of the disease, Medicare Part A can also help you will almost all aspects of hospice care which includes doctor services, nursing care, drugs, medical equipment and supplies, physical and occupational therapy, homemaker services, counseling and respite care. A doctors certification that a patient will only have about six months to live might be needed to qualify.
Medicare Part D
Medicare Part D prescription drug plan covers most of Alzheimer’s medication, but plans vary in copayments. You can use the Medicare Plan Finder tool to compare your plan’s total drug costs against other plans to be sure you’re getting the best coverage. The Alzheimer’s Association also offers a chart on coverage for common Alzheimer’s drugs.
Medicare Supplement Plan
As mentioned earlier, Medicare will only cover 80 percent of the medical services that your loved one will need; you will shoulder the remaining 20 percent. Medicare supplements will help you cover the remaining 20 percent.
As the name implies, the definition of Medicare Supplement refers to the private health insurance plans sold to supplement Medicare in the United States. In short, it picks up the tab where the Original Medicare left off.
Long Term Care Insurance
Medicare does not cover long-term custodial care which includes nursing home care, the costs of assisted living facilities and adult day care. Home help for bathing, toileting, and dressing is also not covered by Medicare
To keep up with the expensive and burdening costs of the long term care need of your loved one with Alzheimer’s, consider getting him/her a long term care insurance policy.
Being prepared and knowing this various coverage will greatly impact the care you will give to your loved one suffering from Alzheimer’s. Being prepared will ensure that he or she will receive the utmost comfort he deserves as his illness progresses.