How to pay for Alzheimer's care?
The cost of Alzheimer's care depends on the facility that provides this care. Specialized facilities usually have higher costs than general geriatric care ones. Though there are several ways to cover the cost: I think you'd better read the article http://www.autumngrove.com/blog/how-to-pay-for-alzheimers-care/ or learn their brochure http://www.autumngrove.com/wp-content/uploads/cost-of-assisted-living.pdf See Paying for Care | Caregiver Center | Alzheimer's Association. Notable excerpts: For most individuals 65 or older, Medicare is the primary source of   health care coverage. However, private insurance, a group employee   plan or retiree health coverage also may be in effect.   [...]   In addition to Medicare, the person with dementia may qualify for a   number of public programs. These programs provide income support or   long-term care services to people who are eligible. This includes   Social Social Security Disability Income (SSDI) for workers younger   than 65, Supplemental Security Income (SSI), Medicaid, veteran benefits,   and tax deductions and credits.   [...]   Many community organizations provide low-cost or even free services,   including respite care, support groups, transportation and   home-delivered meals. You also may consider informal care arrangements   using family, friends, neighbors, faith communities and volunteer   groups.
Everyone always rants on how big of a problem this is.  Just a quick note, I don't care how much they get paid, but it's important to understand why.  It isn't because they set their own salaries, or that they are all super greedy.  Their pay is meant to solve an agency problem. The CEO doesn't own the company, the public does. Because of that the CEO has little incentive to act in the best interests of the owners, rather than his own interest.  So their pay is structured in a way that solves this problem. They are paid based on how well their company does, and how much shareholder value they create. This aligns their interests with the shareholders.  Is this the best solution? Probably not.  Is there a better one? Probably.  Do I know it? No.  But mindlessly complaining about the result doesn't solve the issue. The issue is we need a good solution for the agency problem in an economic system that is built on public ownership and private management. How is that a victim mentality?  You are being obtuse. Every business pays taxes.  Why is it a big deal that walmart paid taxes?    &gt; How about Walmart and other large large employers just shut down.  Why are you being stupid?  What does this have to do with anything?  I don't care what companies shut down because other companies will take their market share.  that's how the economy works. "&gt; Go on, try walking away without signing your credit card receipt at stores where they present it for signature, and see what happens.  That's true... if the amount is over $25. Did you notice it? Actually, at Costco is over $50.  And you know what else is true? That yes, they require you to squibble something, but you can write an obvious incorrect signature and nobody will care. You have no idea how many times the screen with the electronic pen did not work right, so I just put couple of lines...  &gt;&gt;  know what I am talking about because I deal with credit cards a lot, professionally, in IT.  &gt; You and everyone else. Big deal. Different credit card processors have different requirements for their customers (merchants).  Just because different processors have different requirements makes the whole process impossible to manage or comply with. Go figure out the requirement based on the card presented.  &gt;&gt; The credit card companies don't really care.  &gt; I think the real lesson here is nobody cares.   The merchant cares, because they are ultimately responsible for paying for fraud... which is the main reason why credit card companies don't care... and many merchants too because they have insurance...  The bottom line is that everyone would not mind to enter a PIN to get the transaction through, but a stupid ego trip of the credit card companies who don't want to be ""like ATMs"". That's it.  So they came up with chip in the card, which made the process slower and more expensive, and does not solve anything except fake credit cards (copied credit cards)." The rich pay more in taxes. It would be hard to cut taxes in a way that *didnt* help the rich. I'm more concerned with what it does for the middle and lower classes. I don't care that much if it helps the rich.  EDIT: Okay, so let's say you give the top third of the population (by income) a 1% income tax cut. The middle third got a 5% cut, and the bottom third got a 10% cut. In dollar value, the rich are still getting a larger cut, simply by virtue of how much they pay in taxes.  Someone made a point about property tax. Speaking very generally, poor people rent and rich people own. So a property tax inherently benefits the wealthy, because they own more property. Certainly any kind of corporate or capital gains cut would benefit the wealthy, since they own the corporations and are more heavily invested. Even a sales tax cut would benefit the wealthy more than the non-wealthy, simply because they spend more money.  But what frustrates me is how hung up people get on the fact that something is good for the wealthy, (such as with the headline of OPs article) as if we should actively try to avoid helping anyone rich. As I stated above, I don't care that it helps the rich, as long as it's helping the rest of us, too. And if the rich are getting a bigger benefit than I am by virtue of being rich, I'm not bothered, because I can do math. Part of the costs to the insurance company is dealing with all those different billing parties. Reduce those costs and then more ideally goes to care.  That is the goal/promise.  That is the simplest way to see a cost savings.  There are details that most people won't ever understand. Without it, the costs will just stay high to support the extra expenses. Approximately $6,000 a year on the healthcare marketplace (obamacare).   They can get away with a little cheaper for a plan with a huge deductible (ie $5,000), which could reduce their plan to $4k a year.       They also pay medicare tax of 2.9% of their income (1.45% from employee side, and 1.45% payroll taxes).  These pay for medical care for retirees. "Interesting question.   How is social security funded? The social security system works by using current payroll taxes as funding to pay benefits to retirees.  Historically there was always more money coming in then what was being paid out in benefits.  This changed at the beginning of March, 2010 when social security started paying out more than it was taking in (this article estimates the exact date to be around March 3 or March 4 - the chart below has the approximate date highlighted with the red circle).  Due to the baby boomer generation it is estimated that social security will now be perpetually in the red unless changes are made.  The recent reduction in payroll taxes will not help social security solvency.  What was done with all the extra money social security collected over the last three decades? The Social Security Trust Fund (SSTF) was required to purchase special-issue US government bonds with the excess funds.  The SSTF was essentially purchasing US government debt with the excess funds.  This allowed congress to spend the excess funds.  The special-issue funds are different then normal US treasuries in that the SSTF can redeem special-issue bonds at face value at any time (even before maturity).  The SSTF is currently holding $2.5 Trillion of these special-issue bonds as assets.  What next? Hell if I know.  The SSTF was a major purchaser of US debt over the last few decades (to the tune of $2.5 trillion).  That changed in 2010.  The SSTF is no longer purchasing US debt at the same time the US government is issuing record amounts of debt.  The SSTF could begin redeeming its bonds to meet payment obligations.  When it redeems the bonds the US treasury must cough up the funds.  Where is it the US government going to get the money especially when it is currently borrowing money at record levels? I read many articles that say that we don't have to count SSTF bond holdings as debt since we owe it to ourselves.  That always makes me chuckle.  The US government owes the SSTF $2.5 Trillion.  I'm not the US government so don't count me in the ""we"" part of ""we owe it to ourselves"".  I'm also fairly certain I will never see a dime of social security so don't count me in the ""ourselves"" portion either. Charts were obtained from here." Welcome to the world of personal finance.  IMO, you are heading for trouble. To answer your question, the APR is the annual percentage rate, or what you pay to borrow money from the CC issuer.  For example, if you charge $100, and the bill comes, and you pay $100 on or before the due date you pay nothing.  If you pay the minimum payment, which would be around $15, you would then borrow $85 (100-15) and pay interest on that amount.  The next month's balance would be 85 + any new charges + interest.  The interest in this case can be estimated as follows:  85*.199/12 = 1.41. For your information that is a very high interest rate especially given the current market for borrowed money.  Many people become saddled with debilitating debt starting off just like you are planning.  If we were friends, I would implore you not to get a CC, instead save up and pay for things with cash.