By Alex Crews, client relationship manager at Senior Care Marketing Max
A recent study published in JAMA Network Open projects that the total unpaid economic impact of dementia caregiving in the United States will exceed $3 trillion by 2060, up from approximately $344 billion in 2020.
This increase includes rising out-of-pocket medical expenses and foregone wages, which are expected to reach $147 billion and $688 billion, respectively, by 2060. To alleviate this strain, the study advocates for policy interventions, such as expanded paid family leave, enhanced respite programs and increased access to in-home professional care.
The objective of the study was to assess the economic burden of Alzheimer’s disease and related dementias on non-Latino African American, Latino, and non-Latino White adults and their caregivers, employers and the government between 2020 and 2060.
The study found that African American and Latino older adults with ADRD and their families are likely to face disproportionately high burdens, primarily associated with unpaid caregiving. Understanding ADRD prevalence, comorbidity, inadequate care, and support policies may attenuate economic burdens for all U.S. residents, the study concluded.
“We hypothesize that projections will show substantial increases in the economic burden across all racial and ethnic groups due to population aging and the growing number of people living with ADRD,” the study states. “We further hypothesize that the economic burden will grow particularly fast for the 2 minoritized populations, consistent with the empirical evidence presented previously.”
