on Nov 19th, 2007Out-Of-Pocket Caregiving Costs Add Up To Expensive Hobby
Pay attention, caregivers! Someone has finally produced a study about the cost of providing caregiving to family members. The upshot: “These caregivers, spending on average 10 percent of their household income, manage the financial burden by taking out loans, skipping vacations, dipping into savings or ignoring their own health care.” The average out-of-pocket amount is $5,500. So now you know why you haven’t taken a vacation in years or bought a new car. Since robbing a bank is not the best long term care insurance policy, we recommend taking a couple extra minutes in the shower to relieve your stress.
Study Finds Higher Costs for Caregivers of Elderly
National Family Caregiver Support Program