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by Chuck Rainville, Laura Skufca, Laura Mehegan, AARP Research, November 2016
AARP conducted a study among family caregivers caring for an adult over the age of 18 to explore the out-of-pocket costs of caregiving and the financial strain on the family caregiver. This report estimates the monetary costs of caring for an adult with care needs by quantifying the out-of-pocket costs family caregivers are incurring. In addition to out-of-pocket costs, this study also explores other financial and personal strains that family caregivers may experience as result of caregiving.
Key findings include the following:
This study was conducted using a mixed method approach that included both a survey and diary component. This study was conducted from July 18, 2016 to August 28, 2016 among 1,864 family caregivers using GfK’s national, probability-based online KnowledgePanel®. For more information, contact Chuck Rainville at GRainville@aarp.org or (202) 434-6295. For media inquiries, contact Greg Phillips at GPhillips@aarp.org or (202) 434-2544.
Rainville, Chuck, Laura Skufca, and Laura Mehegan. Family Caregiving and Out-of-Pocket Costs: 2016 Report. Washington, DC: AARP Research, November 2016. https://doi.org/10.26419/res.00138.001
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In 2016, family caregivers spent on average just under $7,000 per year, or an average 20% of their income, on caregiving expenses.
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