Cognitive Impairment and Social Security's Representative Payee Program.

Social Security's Representative Payee Program faces a difficult balance with respect to dementia: Many people living with dementia can conduct their finances without a payee if they have help from informal caregivers, but those without help are at risk. To date, it has been unclear what share of retirees with dementia use a payee, what share has help potentially available from another source, and what share has no observed means of assistance. This study finds that while fewer than 10% of retirees with dementia use a payee, only about 8% have no observed means of help.

Dementia, Help with Financial Management, and Financial Well-Being.

This paper uses the National Health and Aging Trends Study to determine whether older individuals with dementia receive help from their informal caregivers in managing their finances and how this assistance - or the lack of it - is correlated with financial well-being. The study finds that the vast majority of those with dementia do receive help managing their finances. Those with dementia who receive help are indistinguishable from those without dementia in terms of experiencing financial difficulties. However, the minority without help are over twice as likely to experience severe financial hardship, even controlling for other factors.