Depression is not uncommon among elderly individuals. Some estimates put the percentage of the over-70 population that suffers from depression at 20 percent.
Seniors can be impacted by this mental condition in a wide range of different ways. In addition to the many negative effects depression can have on an elderly individual's everyday life, it could potentially also impact how big of bills they are facing in relation to health care. According to some estimates, elderly individuals who suffer from depression average 50 percent more in the way of health care costs than elderly individuals without depression.
Given the major negative impacts depression can expose elderly individuals to, it is very important for seniors who have developed depression to get proper treatment. Unfortunately though, untreated depression is fairly common among seniors. Elderly individuals have the lowest rates of getting help for depression among all age groups. What do you think is causing this? What do you think could help change this?
Health care costs and how to deal with them can be a very big issue for elderly individuals. Such costs have the potential to affect seniors and their families in some very significant ways. As the above-mentioned estimates regarding the health care costs of elderly depression sufferers point to, many different things have the potential to impact what degree of health care costs an elderly individual will end up facing.
Thus, when it comes to planning for future care costs, taking in all aspects of an elderly individual's situation can be very important. Estate planning attorneys can help seniors with developing a long-term care cost planning strategy tailored to their particular long-term care needs, concerns and circumstances.
Source: Hillsdale Daily News, "HealthStyle: Depression and aging," David Gannon, August 31, 2015