In 1983, President Ronald Reagan designated November as National Alzheimer’s Awareness Month. According to the Alzheimer’s Association, at that time there were less than two million people with the disease. That number has grown to over five million today, making Alzheimer’s the sixth leading cause of death in the United States. Not coincidentally, November is also National Long-Term Care Awareness Month.
While these numbers represent a growing concern for America’s seniors and their adult children, many of whom will share financial and caregiving responsibilities for aging parents, Alzheimer’s is just one factor in the looming long-term care crisis. In fact, every day until 2030, 10,000 baby boomers will turn 65 and 7 out of 10 are expected to require long-term care.