A new study released by AARP shows that family caregivers provided an estimated $470 billion in unpaid medical services to their loved ones in 2013. Many of these 40 million caregivers worked an average of 18 unpaid hours each week.
These caregivers are helping spouses, parents, partners and other loved ones. Many of the service they provide are complicated tasks ranging from operating medical equipment, wound care and even giving injections.
60 percent of caregivers were employed at least part-time and at least 40 percent of the working caregivers were 50 years old.
The 2013 average cost of adult day care ($71 a day/$18,460 annually) has risen an average of 1.6 percent per year. The 2013 average cost for a home health aide ($19 hourly/$29,640 annually) has risen an average 1.3 percent per year.
All in all, taking care of your loved ones can't be measured in dollars and cents. Those being cared for prefer someone they know loves them rather than a stranger.
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