Arizona Family Caregiving Estimated at $5.6 Billion
By: Source: AARP.org Date Posted: 2007-07-23 14:17:12.278073-04:00
Millions of family caregivers provide billions of dollars worth of care to loved ones each year according to a new AARP study. AARP estimates the economic value of family caregiving is $5.6 Billion in 2006, nationwide it's at $350 Billion.
"Family caregivers are the backbone of long-term care in Arizona," said David Mitchell, AARP Arizona State Director. "While the care they provide often goes unnoticed, it often delays or prevents their loved one from having to be put in a nursing home, where care is costly."
Most family caregivers are women who are employed full or part-time and nearly one-fifth of all U.S. workers are caregivers (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 caregiving 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 Caregiving, shows that of those with the most intense level of caregiving 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.
During the legislative session, AARP Arizona worked to obtain an appropriation ($500,000) to establish an adult Long Term Care Respite Care Program in anticipation of federal funding next year. AARP also supported a successful bill to create an in-home caregivers review taskforce, which will produce a report in August in preparation for work to be done at next year's session.
The complete study, Valuing the Invaluable: A New Look at the Economic Value of Family Caregiving, can be accessed online.
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