Wednesday, May 22, 2024
HomehealthDementia’s staggering financial cost is revealed in new report: It's ‘bankrupting families’

Dementia’s staggering financial cost is revealed in new report: It’s ‘bankrupting families’

A great deal of emphasis is placed on the emotional and mental impact of dementia — but a new study from the University of Michigan highlights the financial burden it puts on families as well.

Among people who were diagnosed with dementia, out-of-pocket health care costs more than doubled within the first eight years, researchers found.

Dementia patients also experienced more than a 60% reduction in their net worth, according to the study findings, which were published in JAMA Internal Medicine.

“Depending on the potential resources like family availability and community care services, the care options and costs would vary a lot,” he said. 

“Therefore, it is critically important to understand the disparities in care resources, which should inform public policy for developing effective care programs for people with dementia and assessing and reducing burdens on individuals, families and society.”

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Melissa Rudy is health editor and a member of the lifestyle team at Fox News Digital. 

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