Economic Value of Family Caregiving in Maryland Reaches $24 Billion Annually, New AARP Report Shows

Maryland family caregivers now provide $24 billion worth of labor each year, according to a new AARP report. Most of this work is unpaid, yet it forms the backbone of the nation’s long-term care system that is essential to helping millions of older adults live independently at home. 

Why it matters to Marylanders

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Without family caregivers, many more vulnerable Marylanders would rely on expensive institutional care, driving significantly higher costs for taxpayers and public programs. 

“Family caregivers are a major economic force that fill critical gaps in our health care system.” said AARP Maryland State Director Hank Greenberg. “The economic value they provide now exceeds $24 billion annually, yet this care often comes at significant cost to caregivers’ health and financial security, and well-being. AARP is elevating this important issue and fighting to save family caregivers time and money.”

Key findings from the report – Valuing the Invaluable 2026 – include: 

• 1.15 million Marylanders are caregivers of adults, providing care for older parents, spouses, neighbors, and other loved ones, contributing 1.04 billion hours of care annually, work that would be valued at $24 billion per year if paid in the marketplace, based on a value of $22.89 per hour.
• Across states, the estimated value of caregiving ranges from $14.12 per hour in Louisiana to $27.05 per hour in Washington, reflecting regional differences in wages and the cost of care.

National Findings:

• 59 million Americans are caregivers of adults, providing care for older parents, spouses, neighbors, and other loved ones, contributing 49.5 billion hours of care annually, work that would be valued at $1.01 trillion per year if paid in the marketplace, based on a value of $20.41 per hour.
• The 49.5 billion hours of care provided each year is the equivalent of nearly 24 million full-time workers, roughly 17% of the entire U.S. full-time workforce.
• The value of family caregiving exceeds total federal, state, and local Medicaid spending nationwide, and almost doubles all out-of-pocket health care spending.

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Caregiving has become more demanding and complex as chronic illnesses rise and more care shifts into homes:

• Family caregivers are spending more time providing care, averaging 27 hours each week.
• More than half, 57%, now provide high-intensity care meaning; they spend more hours helping with daily tasks like bathing and dressing as well as complex medical and nursing tasks like wound care and administering injections.