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Being a Caregiver: Understanding the Financial Impact

impact-of-caregiving-ehealth-study-infographic
Growing up with an ill grandfather who had suffered a stroke, I watched my mother and other family members take care of him while he was bedridden. None of them had the experience or skills to be a caregiver, but they learned how to take care of him. I recall two aspects that were difficult for the family: understanding the financial and emotional impact this experience had on everyone.

Throughout the year, eHealth receives many questions from caregivers who are trying to help their loved ones enroll or change their Medicare coverage plans. According to the Family Caregiver Alliance, around 29% of all U.S. adults provide care to someone who is ill, disabled, or aged.

As I’ve seen through experience, most caregivers don’t have any formal training. They’re just doing their best to help someone they love in need. To shed more light on this audience, eHealth partnered with Agingcare.com to understand the challenges that this underrepresented audience faces. The survey focused on topics such as the emotional and financial impact of being a caregiver. Here are some highlights:

  • About half (51%) helped their parents review, select, or enroll in private Medicare coverage.
  • When asked how much financial support they provided to their parents, 48% stated they provided $250 or more per month.
  • 92% of caregivers said the money goes towards day-to-day expenses, whereas 44% said funds go towards housing.
  • When asked how they feel about their overall experience, 58% said it was equally positive and negative.

Learn more in the infographic below:

eHealth-Caregiver-Infographic-500px

For further insights, read the entire report.

Image courtesy of Flickr.

Medicare has neither reviewed nor endorsed this information.

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About Anita Loomba

Anita Loomba is a contributor of the eHealth Medicare Blog.
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