UM18-02: Adverse Financial Events Before & After Dementia Diagnosis: Understanding the Timing and Need for Assistance Managing Money Among Households Impacted by Dementia
The number of older adults living with dementia is predicted to increase rapidly in coming years, reaching 12 million by 2050. Dementia is a degenerative clinical condition that can lead to impaired financial decision-making, raising concerns about the growing need for family members, friends, and other surrogates to manage benefits for cognitively impaired Social Security beneficiaries. This project uses a unique linkage of credit report data and Medicare claims to describe adverse financial outcomes before and after formal dementia diagnoses. Findings will provide important evidence about the prevalence and magnitude of financial difficulties among cognitively impaired Medicare beneficiaries.