The survey received responses form 1,864 family caregivers.
Here are six insights:
1. The survey found three out of four caregivers spend an average of $7,000 annually in out-of-pocket costs.
2. Those annual out-of-pocket costs equaled one-fifth of caregivers’ average income. However, lower income caregivers are forced to take out loans or dive into savings to pay.
3. Those caring for patients with dementia spend the heftiest amount in out-of-pocket costs, totaling about $10,700 annually.
4. Caregivers’ expenses may include: relocation costs; home safety renovations; patients’ mortgages; specialized equipment; insurance premiums; and home care aides.
5. The survey also discovered caregivers with patients older than 50 spend more than caregivers helping patients between 18 and 49.
6. Household costs for family caregivers rack up 41 percent of personal costs.
Read more from the survey, here.
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