If the person with dementia is of working age, they may have had to give up paid employment.
Financial help for people living with dementia
Many living with dementia can access financial help but knowing what is available can be confusing.
The charity Age Cymru can provide information and advice around money matters. There is an advice line number 0800 223 444 and local offices, which can be found on their website.
Pathways through Dementia helps people unravel the legalities of the dementia journey, such as paying for care, managing finances and welfare benefits.The UK Government has an online benefits calculator that you can use to see the benefits available for someone living with dementia or a person supporting them.
Facts about the financial cost of dementia
According to the Alzheimer’s Society report, The Hidden Costs of Dementia in Wales, dementia costs Wales £1.4 billion, equating to an average of £31,300 per person per year.
- £196 million is spent on healthcare costs
- £535 million is spent on social care costs (publicly and privately funded)
- £622 million is contributed by the work of unpaid carers of people with dementia
- £6 million in spent on other costs, including police costs of missing person enquiries, advocacy services and research
- Unpaid care accounts for 75 per cent of the total cost for people with dementia living in the community, and 46 per cent of the total cost of the overall dementia population in Wales.
The indirect costs of living with dementia
Dementia in the Family, an Alzheimer’s Research UK report, found that family carers are likely to experience reduced work opportunities and income, in addition to the direct financial costs of providing care, including:
- higher energy bills
- specialist food
- higher phone bills
- higher transport costs
- care products
- equipment and adaptations.
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