In Nevada Family Caregiving Estimated at $3 Billion

AARP:  Nationwide Caregiving Valued At $350 Billion

 

(Reno, Nev.) – Millions of family caregivers provide billions of dollars worth of care to loved ones each year according to a new AARP study released today.  AARP estimates the economic value of family caregiving at $350 billion in 2006.  In Nevada, the estimated value of this care is $3 billion.

 

“Family caregivers play a vital role and are the backbone of long-term care in our stat,” said AARP Nevada Director of Communications Deborah Moore.  “While the care they provide often goes unnoticed, their contributions often delay or prevent more costly nursing home care and that can have appositive impact on our state Medicaid budget.”

 

Most family caregivers are women who are employed full or part-time and nearly one-fifth of all U.S. workers are caregiver (19%).  As family caregivers are forced to take time off and work partial days to care for their loved ones, they face lower wages, reduced job security, and loss of employment benefits like health insurance, lower retirement savings and Social Security earning.  These losses come at a difficult time when income and benefits are critical for the caregiver and their family.  U.S. businesses also feel the impact; productivity losses associated with care-giving are estimated as high as $33 billion a year.

 

The AARP Public Policy Institute study, “Valuing the Invaluable:  A New Look at the Economic Value of Family Care-giving,” shows that of those with the most intense level of care-giving responsibility, 92% report major changes in their working patterns – 83% arrive late, leave early or take time off during the day; 41% report taking a leave of absence; and 37% report going from full-time to part-time to adjust for their caregiving responsibilities.

 

Additionally, the caregivers’ own health is often at risk as they are more likely to suffer chronic health conditions and incur medical debt than non-caregivers.  The complete study can be accessed online at:  www.aarp.org/research/housing-mobility/caregiving/ib82_caregiving.html.

 

 

AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole.  AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates.  We produce AARP The Magazine, published bimonthly; AARP Bulletin, our monthly newspaper; AARP Segunda Juventud, our bimonthly magazine in Spanish and English; NRTA Live and Learn, our quarterly newsletter for 50+ educators; and our website, www.aarp.org.  AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors.  We have staffed office in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.