Financial Implications of Dementia: An Eight-Year Follow-Up of Matched Samples
2024
Financial Implications of Dementia: An Eight-Year Follow-Up
Sample size: 4774
publication
Evidence: moderate
Author Information
Author(s): Choi HwaJung, Langa Kenneth, Norton Edward, Cho Tsai-Chin, Connell Cathleen
Primary Institution: University of Michigan
Hypothesis
What are the financial consequences of dementia for older adults before and after its onset?
Conclusion
The study found that dementia significantly increases out-of-pocket medical costs and reduces median wealth over time.
Supporting Evidence
- 2387 adults experienced the onset of dementia during the 2-year follow-up.
- Out-of-pocket medical costs increased from $4005 to $10,006 in the dementia group.
- Median wealth in the dementia group reduced from $79,339 to $30,490.
- Enrollment in Medicaid increased from 16.1% to 29.7% in the dementia group.
- No statistically significant changes in financial outcomes were found in the control group.
Takeaway
Dementia can make it really expensive to get care, and families can help reduce some of those costs.
Methodology
This population-based cohort study compared two matched samples of U.S. adults aged 55 years or older.
Participant Demographics
U.S. adults aged 55 years or older.
Digital Object Identifier (DOI)
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