Battling Alzheimer’s disease can be costly and may require specialized care, but a Medicare Advantage Special Needs Plan can help provide additional coverage in treating and managing Alzheimer’s.
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The cost of Alzheimer’s
In 2020, the total cost for Alzheimer’s care in the United States was $305 billion. The amount could increase up to $1.1 trillion by 2050 (in 2021 dollars).1
The total average annual cost per person in 2019 was $50,201 from different payment sources. From this number, $25,213 was from Medicare.
Since Alzheimer’s is a progressive disease, the costs to care for someone with Alzheimer’s may change over time. While insurances such as Medicare may cover some of the costs, it is a good idea to prepare for other amounts that insurances may not cover in full.
Alzheimer’s care
Some of the most common costs to care for someone with Alzheimer’s are:
- Medical treatments for symptoms, diagnosis, regular doctor’s visits
- Treatment for other medical conditions
- Safety and security for a person who wanders
- Prescription drugs
- Personal care
- Adult daycare services
- In-home caregiving services (full-time or part-time)
Those who are in the latter stages of Alzheimer’s may opt for a long-term care service such as joining an assisted living facility, a nursing home, or getting full-time home care.
Medicare Advantage Special Needs Plan (SNP) for Alzheimer’s
Medicare beneficiaries who have Alzheimer’s may opt to get a Special Needs Plan (SNP) to get additional coverage to help with treating and managing Alzheimer’s. A Special Needs Plan provides benefits that best meet the needs of someone with Alzheimer’s.
There are specific requirements to be met to enroll in an SNP plan. Alzheimer’s disease, being a type of dementia, is considered part of the Chronic Condition SNP (C-SNP) eligibility requirements.
How can I join an SNP?
To enroll in a Medicare SNP, you must:
- Have Medicare Part A and Part B
- Live in the plan’s service area
- Have any of these conditions:
- A chronic condition such as dementia (see the full list from Medicare.gov
- You live in an institution like a nursing home or require nursing care at home
- You have both Medicare and Medicaid
Can I go to any doctor or health care provider while enrolled in an SNP?
You must get care from doctors or providers within the Medicare SNP network. You may still use out-of-network care for emergency situations. If you have an End-Stage Renal Disease, you can also opt for out-of-area dialysis.
If you have any questions about Special Needs Plan, contact me so I can help you make an informed decision and get a plan that suits your needs.
Learn more about Medicare Advantage
References:
1 Alzheimer’s Association. (n.d.). Alzheimer’s and Dementia.https://www.alz.org/alzheimers-dementia/facts-figures
2 Medicare.gov. (n.d.). Special Needs Plans (SNP). https://www.medicare.gov/sign-up-change-plans/types-of-medicare-health-plans/special-needs-plans-snp
