Banking for Cognitive Ageing and Dementia World Economic Forum, “Ageing and Cognition: Maintaining Economic Security in Later Life” May 9-10, 2016 Sarah Lenz Lock Senior Vice President for Policy, AARP Executive Director, Global Council on Brain Health

Nonprofit Nonpartisan 37 million members Mission driven organization helping people age 50 plus turn their goals and dreams into real possibilities Fights for issues that matter most to families: health security, economic security – employment and retirement

Cognitive Aging Impacts All 3 AARP Priorities Health Wealth Self Our membership consistently says 3 most important issues – tied for first place: Medicare Social Security Staying Mentally Sharp

Reducing Risk re: Cognitive Aging Policy and advocacy addressing spectrum from normal cognitive aging to disease Global Council on Brain Health Staying Sharp Age Friendly & Dementia Friendly Communities Bank Safe Fraud Watch Caregiving Initiatives Partnering on IOM recommendations # 3, 5, 8, 9, 10

Cognitive Aging: Progress in Understanding and Opportunities for Action www/iom.edu/cognitiveaging IOM (Institute of Medicine). 2015. Cognitive aging: Progress in understanding and opportunities for action. Washington, DC: The National Academies Press.

Banking and Cognitive Decline Prevention Efforts Wealth - BankSafe Health - GCBH AARP & AgeUK collaborative to provide trusted information on what actions people can take to maintain brain health. Brings together leading scientists, health care experts from around the world to discuss current research and enhance understanding of cognitive aging. Encourages and empowers people to fight cognitive decline by providing clear and simple messaging on the actions to take. Empowers Financial Institutions by educating them on the importance of fighting exploitation of the vulnerable. Providing necessary tools and training so they can protect consumers. Designed to help strengthen the partnership between financial institutions, consumers and those in the community and government whose jobs are to protect the interests of older people.

Problems with Numeracy is One of First Warning Signs

Why Flag Signs of Cognitive Impairment? Encourages people to create or update advance directives and plan long-term care Inspires a person to enlist a caregiver or someone to help with medical, legal, and financial concerns Helps the caregiver receive appropriate information and referrals

Greatest Risk Factor for Dementia = Aging increasing age, followed by family history incidence of AD @doubles every 5 years after 65 About 50% of people 85+ have some form of dementia Because the 65+ population is expected to double by 2050, so too will the incidence of people living with dementia.

Seniors Need Every $: High Cost of Dementia Out of pocket spending for individuals in US with dementias is $44 billion. Currently, average per person Medicare spending for people 65+ with dementia 3 x higher than for seniors without dementia. Medicaid payments are 19 times higher. Almost 65 % of all nursing home residents have moderate to severe cognitive impairment.

For further Information: aarp.org globalcouncilonbrainhealth.org slock@aarp.org