Here’s the scoop on hidden costs of caregiving.
Let’s explore the numbers; most of what is spent is out-of-pocket. Here’s a breakdown according to AARP: 41% covers household expenses, 25% covers medical expenses, 14% covers personal care items, 12% covers travel, education, and legal expenses, and 8% covers paid professional help.
Here are a few more numbers: 44% of Californians age forty or older have been family care partners, two thirds of these care partners have used their own money to provide care, and close to 90% have provided transportation (escort service). Because some care partners choose not to work or aren’t able to work, the ability to continue saving for that rainy day is reduced by 25%. Like many care partners, we may even shirk our own care and needs in deference to our care receiver and that’s another hidden cost.
“I still live, I still think. I still have to live, for I still have to think,” said Friedrich Nietzsche.
Many health care organizations offer workshops on estate planning. Please find help in your area and attend classes – money matters – and the added stress of worrying about it is also a hidden cost on care partners.
For more information, please go to: https://www.aarp.org/caregiving/
The eleven state offices of the Caregiver Resource Centers in California have secured a $30 million grant in state funding providing low to no-cost counseling, care planning, and other services. California Caregiver Resource Centers (CRCs) –