the economic$ of caregiving

(NAPS) - The contribution made by caregivers may extend well beyond the individuals they look after. A 2006 study by AARP found that approximately 35 million family caregivers saved the US health care system an estimated $350 billion by delaying or preventing more costly institutional care.

Family members and other unpaid caregivers provide by far the majority of long-term services and support received by persons with disabilities of all ages. The typical caregiver in the U.S. is a 46-year-old female who works outside the home and spends an average of 21 hours per week caring for older family members. Unfortunately caregivers can experience serious economic losses, including lost wages, health insurance, savings, and Social Security benefits, as a result.

Experts argue that even the most conservative assumptions and estimates indicate the value is huge, dwarfing the value of paid home health care and nearly matching the total national spending on home health care and nursing home care -- as much as $371 billion by some counts. In comparison, federal and state governments spent $311 billion on Medicaid in 2005.

For both economic and health reasons, it is essential to prevent family caregivers from being overwhelmed by the demands placed upon them. The cost of funding more services and support for caregivers is minute compared to the value of their contributions.

One option is to implement family-friendly workplace policies such as flextime and telecommuting, referral to supportive services, and caregiver support programs in the workplace. If you wish to learn more, visit www.aarp.org.