AARP report reveals burden of family caregiving

WASHINGTON - Family caregivers in the U.S. provided 37 billion hours of care — worth an estimated $470 billion — to their parents, spouses, partners and other adult loved ones in 2013, according to AARP Public Policy Institute's new report, "Valuing the Invaluable: 2015 Update."

 

"Family caregiving today is much more complex, stressful, and costly for caregivers than ever before," said AARP CEO Jo Ann Jenkins. "This new report shows some of the progress that's been made to help caregivers, but we need to do much more in public policy, in the workplace and in the health care system."  

 

The total estimated economic value of this uncompensated care provided by the nation's family caregivers surpassed total Medicaid spending ($449 billion), and nearly equaled the annual sales ($469 billion) of the four largest U.S. tech companies combined (Apple, Hewlett Packard, IBM and Microsoft) in 2013. 

 

In 2013, about 40 million family caregivers helped another adult loved one carry out daily activities, AARP reported, such as bathing or dressing, preparing meals, administering medications, driving to doctor visits, and paying bills.      

 

AARP outlined the top 10 states with the most caregivers: 

 

 

As Americans live longer and have fewer children, fewer family members will be available for older adults to rely on for everyday help in the future, AARP noted. The ratio of potential family caregivers to the growing number of older people has already begun a steep decline. In 2010, there were 7.2 potential family caregivers for every person age 80 and older. By 2030, that ratio will fall sharply to 4 to 1, and is projected to drop further to 3 to 1 in 2050.  

 

More than half (55%) of family caregivers report being overwhelmed by the amount of care their family member needs. And nearly 4 in 10 (38%) family caregivers report a moderate (20%) to high degree (18%) of financial strain as a result of providing care. 

 

In 2014, the majority (60%) of family caregivers had full- or part-time jobs.  

 

"Over the past four years since the last report came out, we've seen a number of new policies at the federal and state level that are improving awareness about family caregivers' needs," said Susan Reinhard, SVP and director, AARP Public Policy Institute, and lead author of the new report. "We need multiple approaches to better help caregiving families, including such things as tax credits, improved workplace flexibility, respite care, home care services, and better training of family caregivers. Solutions to support family caregivers will need to come from both the private and public sectors."