Actuaries Shouldn’t Bet on a Cure for Alzheimer’s Any Time Soon
There are some promising drugs in the Alzheimer’s pipeline, but a panel of experts asked to predict the potential financial impact of new treatments was not optimistic that a cure is imminent. Roy Beveridge, an oncologist who is chief medical officer for the insurer Humana, told a group of actuaries this week in Philadelphia that he expected to see cancer cures before drug developers figure out how to stop dementia. Beveridge was part of a panel discussion at the annual health meeting of the Society of Actuaries, which brought more than a thousand number crunchers to the Philadelphia Marriott Downtown. Their job is to predict risks and costs. People with dementia, who can live for years with increasing disability, are especially costly: The United States likely will spend $236 billion this year on their medical care, long-term care, and hospice. As one panelist pointed out, however, much of their care is provided — without pay — by family members. Because of the aging baby-boom generation, the number of people with dementia is likely to nearly triple by 2050 to 13.8 million.
Source/more: Philadelphia Inquirer
David Wingate is an elder law attorney at the Elder Law Office of David Wingate, LLC. The elder law office services clients with powers of attorneys, living wills, Wills, Trusts, Medicaid and asset protection. The Elder Law office has locations in Frederick and Montgomery Counties, Maryland.