When a doctor tells you that someone in your family has Alzheimer's disease, it's normal to feel like your whole world has come crashing down. From that moment on, we think mostly about the patient's health. Our entire attention is focused on things like whether they are getting the right medication, seeing the doctor on time, and getting the right food and drink. But with such a long-term illness, after a while, a big problem arises that none of us think about. That is the financial aspect. Today, we will talk about the impact this disease can have on the family's economy.
Why do you need to think about this in advance and plan?
Simply put, Alzheimer's is a progressive disease that gradually worsens over time. This means that the tasks your loved one can do independently today may not be possible in a few months or a year. As the disease progresses, their ability to manage their own affairs, make decisions, and manage money gradually declines.
Imagine, someone who had a driver's license and drove a vehicle during the early stages of the disease, but as the disease progresses, they will no longer be able to do so. Someone who managed their bank accounts will forget about it. Because of things like this, planning ahead will bring great relief to you, the patient, and the rest of the family, both mentally and financially. Rather than making hasty decisions in a time of panic, it is best to think things through and make a plan in advance.
How do you start making a good plan?
This is not something you can do alone. It is very important for the whole family to come together and talk about this.
1. Talk openly: Get the whole family together and talk openly about future challenges, expenses, and how you'll deal with them. This can be a difficult conversation, but it's essential.
2. Consult your doctor: Talk to your family doctor about this. He or she will be able to give you some insight into the course of the disease and, if necessary, refer you to other professionals who can advise on such matters.
3. Prepare legal documents: While the patient is still of sound mind, it is wise to prepare legal documents (e.g., a Power of Attorney) for the future. This will give a trusted family member the authority to make financial and medical decisions for the patient if they become incapacitated.
What financial options do we have in Sri Lanka?
While countries like America have special programs like ``Medicare'' and ``Medicaid'' that are run by the government, our system in Sri Lanka is different. But there are options that we can also take advantage of.
Do you have health insurance?
If you or the patient has private health insurance coverage, that's the first thing you should look at.
- Read the policy document carefully: Check your insurance policy document to see if it covers long-term illnesses like Alzheimer's, neurological diseases, and dementia.
- Find out exactly what is covered: Ask exactly how much is covered for things like doctor's fees, hospitalizations, medications, and home care if needed.
- Ask questions when in doubt: If you don't understand something, don't be afraid to call the insurance company and ask for clarification.
Benefits and coverage from the workplace
If the patient or family member is employed, check with the workplace's human resources department.
- Some organizations provide health insurance coverage to employees.
- Also, find out if your organization offers any allowance or disability insurance if you are unable to work due to an illness.
Government health service
A large number of services are provided free of charge in government hospitals in Sri Lanka. Doctors' visits, basic tests, and most of the medicines available in hospitals are available free of charge. That is a great strength for the people of our country.
But the truth is, with a long-term illness like Alzheimer's, there are times when we have to bear expenses outside of the government hospital. Some expensive medications, specialized tests, and especially if someone is needed to take care of the patient at home (a `caregiver`), we have to bear those expenses.
What are the main costs associated with Alzheimer's disease?
Being aware of these expenses in advance will be a great help in creating your financial plan. Let's take a look at the main possible expenses.
| Expense type | Things to consider |
|---|---|
| Medical fees and tests | Expenses for things like regular medical check-ups, specialist fees, brain scans (CT/MRI scans), and blood tests. |
| Medicines | The monthly cost of medications to control symptoms and slow the progression of the disease. Some medications can be expensive. |
| Home Care | If a trained caregiver has to be brought into the home to care for the patient, his or her salary will cost a significant amount of money. |
| Changes to home security | The cost of modifications such as installing grab bars in the bathroom and non-slip tiles to enable the patient to move around safely at home. |
| Specialized equipment | As the disease progresses, it may be necessary to purchase or rent special equipment such as wheelchairs and hospital beds. |
| Residential care centers | If the condition becomes unbearable at home in the final stages, the cost of a nursing home or specialized care center can be very expensive. |
Thinking ahead and preparing financially will be a great strength for you and your family during this difficult journey.
This journey is not one to be undertaken alone. By facing this challenge with support and a good plan, you can make this time as comfortable as possible for you and your beloved patient.
Take-Home Message
- Plan ahead: Start thinking about finances early after receiving an Alzheimer's diagnosis. The longer you wait, the harder it will be to make decisions.
- Understand your insurance: If you or the patient has private health insurance, be clear about its coverage and limitations.
- Talk as a family: Talk openly and honestly with your family about money and future care. Make decisions together.
- List expenses: Get an idea of possible future expenses (medicines, hosts, medical fees) in advance.
- Seek medical help: Talk to your family doctor about this. It will help you get guidance on the condition and what to do next.
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