Family Caregiver supporting elderly aging parent with dressing

Family Caregiving Impacts The Whole Family

Millions of people in the US provide unpaid care for their aging parents, spouses, or relatives who may have a range of health issues, such as dementia, Parkinson’s, stroke, or may be receiving hospice care. However, family caregivers face challenges in maintaining their own lives and careers, and caring for a loved one can come at a significant cost.

In this post, we’ll explore the economic impact of caregiving on households, with a focus on lost wages. We’ll also discuss how Assistance Home Care’s services can help family caregivers re-enter the workforce, and remind caregivers that they are not alone in their journey.

The Facts on Family Caregivers

Being a family caregiver can mean caring for an aging parent, spouse, or loved one. In the U.S, approximately 53 million people provide unpaid care to a loved one, many of whom are aging or have disabilities. Many organizations offer resources and support, including financial assistance, respite care, and support groups.

A study by the National Alliance for Caregiving and AARP found that nearly 70% of family caregivers reported making work accommodations, such as reducing work hours or taking a leave of absence, to provide care for their loved one. These accommodations can have a significant impact on a caregiver’s income and future financial stability.

Despite support, caregivers face significant economic challenges, particularly in lost wages. According to AARP Public Policy Institute, family caregivers provide an estimated $470 billion worth of unpaid care annually. This means on average, each caregiver faces upwards of nearly $7,000 per year in lost wages and retirement benefits. Women, who make up most caregivers, face greater financial insecurity due to caregiving.

Assistance Home Care’s services can help alleviate economic burdens. In-home care services allow caregivers to continue working while ensuring their loved one receives the care they need. Assistance Home Care’s services include personal care, safety oversight, meaningful activities, medication reminders, hourly care, overnight care, and 24/7 care.

The Bottom Line

Family caregiving is vital, but it comes at a cost. Assistance Home Care’s services can help caregivers re-enter the workforce by giving their family peace of mind with their loved one’s care at home.

It’s crucial to acknowledge and support family caregivers, as they play a vital role in their loved ones’ lives. With resources and support available, family caregivers are not alone in their journey of caring for aging parents, spouses, or loved ones.

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