Valuing the Invaluable: Putting a Dollar Value to Family Caregiving.
In 2013, about 40 million family caregivers in the United States provided an estimated 37 billion hours of care. The estimated value of care. The estimated value of their unpaid service was approximately $470 billion.
How does family caregiving compare?
(2013-2014 in billions)
Walmart Annual Sales $477
Family Caregiving estimated value $470
Combined Annual Sales of Apple, IBM, Hewlett Packard and Microsoft $469
Total Medicaid Expenditures: $449
Caregivers spend an average of 18 HOURS PER WEEK providing care to a family. 60% Family caregivers caring for an adult while employed full or part time. Provide 21+hours of family care per week while working a job is 22%.
68% Family caregivers who say they have to use their own money to help provide care to their relative. 39% felt financially strained.
55% of Caregivers who felt overwhelmed by the amount of care needed for a family member.
1 in 4 workers age 25+ are family caregivers. 72% are workers 40+ that say allowing work flexibility for caregiving would help improve work/life balance.
*AARP: Real Possibilities: from the AARP Public Policy Institute pamphlet.
Disclaimer: This is taken directly the AARP Family Caregiving pamphlet from July 2015. To all of you burnt out caregivers, this is something to show those family members who do not want to be involved with their loved ones care, who say that they ‘too busy’.