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Combating Memory Loss and High Care Costs in Baby Boomers

By Daniel @ LivingSenior - July 11, 2013

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Memory loss is a significant worry amount baby boomers, even if it doesn’t lead to a serious condition like Alzheimer’s Disease or Dementia. The high care costs associated with nursing care if memory loss persists is a concern for many retirees.

Memory Loss Among Baby Boomers

Baby boomers have a lot to worry about as they begin entering their 60s and 70s and unfortunately memory loss is one of them. This could be elementary memory loss which is common among people as they age or more serious diseases like Alzheimer’s and Dementia. There is short-term and long-term memory loss that could be an issue for baby boomers. Short-term memory loss is more common than long-term memory loss and can come on more quickly for baby boomers. This includes forgetting about an appointment, not remember the name of someone you just met, or hearing a story and almost instantly forgetting the details. Long-term memory loss includes personal experiences and memories from previous years. These aren’t loss due to an interruption in your train of thought but gradually and occurs over time.

Alzheimer’s and Dementia

When memory loss advances, it could cause more serious complications like Alzheimer’s or Dementia. These conditions keep you from remembering anyone or anything, including how to get home, how to get dressed, or who the people closest to you are. Alzheimer’s keeps you from being able to perform basic daily activities which means you need round-the-clock nursing care at home or will be need to stay at a senior community or nursing home. This can be expensive and cut into your high care costs.

Rising Health Care Costs

Health care costs for baby boomers and seniors in general are rising and will continue to do so over the next few years. This means paying more for insurance premiums, prescriptions, treatments for memory loss, and the senior housing or nursing care you would need if it led to severe memory loss or a condition like Alzheimer’s.

Memory Loss and High Care Costs

In order to combat the high care costs associated with memory loss and these diseases, you need to start saving for your retirement now and preparing for the possibility of needing this type of long-term care. Even with memory loss that isn’t associated with Alzheimer’s, you’re going to need to stay in a senior living community which can be more expensive.

The Good News

Memory loss is a normal part of the aging process and doesn’t mean all baby boomers will lose all of their memory or it will advance to Alzheimer’s or Dementia. The brain has the ability to continue growing new brain cells and scientists are using this knowledge to work on further treatments for improving memory loss after it begins. Where there aren’t treatments for Alzheimer’s and Dementia, some medications and supplements can be used to slow down the memory loss process. Memory loss and memory loss care as well as preventative care have seen drastic increases and advancement. These advancements have lead to better health coverage options and assisted care options that were not available just a decade ago.