Help­ing’s High Cost

Newsweek - - Periscope -

We thank our par­ents for rais­ing and sup­port­ing their chil­dren, some­times into their 20s, and they jok­ingly (we think) hold it over us. Less dis­cussed is that, at some point, we will prob­a­bly be asked to care for them, for a pe­riod that can ex­tend into decades—a re­al­ity that comes with emo­tional and fi­nan­cial chal­lenges.

28

Av­er­age hours a week U.S. care­givers spend help­ing older adults with health care ac­tiv­i­ties.

$43,539

Me­dian an­nual cost of a U.S. as­sist­edliv­ing fa­cil­ity in 2016; for nurs­ing home care, it was $92,378.

69%

Per­cent­age of U.S. car­ers who re­ar­range their work sched­ule, de­crease hours or take un­paid leave.

44%

Per­cent­age of U.S. car­ers who say their em­ployer is un­aware of their care­giv­ing.

$324,044

Es­ti­mated cost, as of 2011, of lost wages and So­cial Se­cu­rity ben­e­fits for an Amer­i­can woman who leaves her job early to care for an ag­ing fam­ily mem­ber.

$3 tril­lion

Es­ti­mated cost, as of 2011, of lost wages and pen­sion and So­cial Se­cu­rity ben­e­fits of 10 mil­lion Amer­i­can adults over the age of 50 car­ing for their ag­ing par­ents.

47%

Per­cent­age of U.S. car­ers with an­nual house­hold in­comes un­der $50,000.

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