» Hook Law Center Elder Law Attorney Agrees: U.S. Should Double Alzheimer’s Research Spending

Hook Law Center Elder Law Attorney Agrees: U.S. Should Double Alzheimer’s Research Spending

Virginia Beach, VA (Law Firm Newswire) December 4, 2013 – A senator and a prominent doctor joined together to call for a doubling of the amount the U.S. government spends on research into Alzheimer's disease each year.

Hook Law Center (formerly Oast & Hook)

Hook Law Center (formerly Oast & Hook)

Senator Susan Collins is the senior senator from Maine and Co-Chair of the Senate Alzheimer's Task Force. Ronald C. Petersen, M.D., Ph.D., is the director of the Alzheimer's Disease Research Center at the Mayo Clinic. The pair co-authored an article on the disease in a recent issue of Parade magazine.

Virginia elder law attorney Andrew Hook agreed with the senator and doctor's recommendation.

“In my line of work, I see first-hand the toll that Alzheimer's takes on patients and their families,” Hook said. “Nursing home care and assisted-living facilities are very expensive, and home care by family members can be exhausting. Doubling the government research budget for the disease would go a long way to finding effective treatments, prevention and perhaps a cure.”

Collins and Petersen point out that as baby boomers near retirement age, the number of Alzheimer's patients is expected to rise dramatically. Each day, 10,000 baby boomers turn 65. In 1983, when November was designated National Alzheimer's Disease Awareness Month by President Ronald Reagan, Americans with the disease numbered fewer than two million. Today, they number over five million. Projections indicate that 16 million Americans aged 65 and over may be diagnosed with Alzheimer's by 2050.

As the ranks of patients swell, so will the costs associated with caring for them. Those costs currently amount to more than $200 billion per year, with costs to Medicare and Medicaid making up the bulk of that total — $142 billion. Currently, the U.S. government spends $500 million per year on Alzheimer's research. By comparison, $6 billion is spent on cancer research, $3 billion on HIV/AIDS, and $2 billion on cardiovascular research each year. Collins and Petersen refer to a study by the National Institute on Aging that found that Alzheimer's and other forms of dementia, in aggregate, are more costly to the United States than either cancer or heart disease.

As the article points out, mortality rates among patients with cancer, HIV/AIDS and heart disease are falling, suggesting the research spending on these diseases is having a positive effect. However, Alzheimer's-related deaths are rising steeply.

Collins and Petersen conclude by recommending that President Obama and Congress double the amount spent on Alzheimer's research in 2015, and increase it further to $2 billion within the next five years.

Hook Law Center
295 Bendix Road, Suite 170
Virginia Beach, Virginia 23452-1294
Phone: 757-399-7506
Fax: 757-397-1267

SUFFOLK
5806 Harbour View Blvd.
Suite 203
Suffolk VA 23435
Phone: 757-399-7506
Fax: 757-397-1267
http://www.hooklawcenter.com/

  • Issues to Consider when Your Child Goes off to College
    It’s February, folks. That means that college acceptance letters will soon be arriving via email, snail mail or however they get around these days. Once the initial euphoria has worn off and you know that your child is definitely going to college and you have made peace of a sorts with how you are going […]
  • Commonly Overlooked Tools for Incapacity Planning
    Every individual should have a plan for when they can no longer make decisions for themselves effectively but most delay planning because it entails the confronting their fears about disability, death, and dying. As the U.S. population ages in greater numbers due to aging baby boomers and increased longevity, the marketplace has responded to the […]
  • Will Medicaid Take My House?
    We hear this question all the time: “If I apply for Medicaid, will they take my house?” The answer is no; however, there are certain situations in which your home may be counted against you in determining whether you have too many available resources to meet the financial qualifications for long-term care Medicaid.  If the […]
  • Maximizing Your Child’s SSI by Utilizing ABLE Accounts
    I see a large number of clients who have a child receiving SSI as a result of a disability. In many cases, the child is not receiving their full SSI check ($735 per month for the year 2017) as a result of in-kind support and maintenance provided to the child by the client. This reduction […]
  • Intra-Family Conflict After Death – It’s Expensive
    Within the confines of this office’s newsletters over the years are strategies designed to assist you in planning your estate to implement your decisions, your goals, avoid taxes and avoid probate. But were you aware that even the best laid estate plans can be torn apart by feuding family members after you are gone? Intra-family […]

See other news sources publishing this article. BETA | Tags: , , , , ,



Get headlines from Law Firm Newswire sent right to your inbox.

* indicates required