Family Caregiver Costs Soar Nearly 60% in Five Years, Averaging Over $11,000 Annually
A new study from AARP reveals a significant increase in the costs incurred by family caregivers, with out-of-pocket expenses rising nearly 60% over the past five years to an average of $11,508 annually. This trend places a substantial financial strain…
Providence New Bedford, RI, November 3, 2026 — AARP reports that the financial burden on family caregivers in the United States has escalated dramatically over the past five years. A new study released by the organization indicates that out-of-pocket expenses for these caregivers have surged by nearly 60%.
The average annual cost now stands at $11,508. This significant increase highlights a growing financial strain on the approximately 63 million Americans who provide care for family members. The study points out that this trend disproportionately affects lower-income households, which may have fewer resources to absorb these rising costs.
According to the study’s findings, the primary drivers behind these increased expenditures are housing and medical care. These essential services represent the largest components of the financial outlay for family caregivers.
The AARP study suggests that policy changes are needed to better support individuals fulfilling these vital caregiving roles. While the summary does not specify the exact policy changes recommended or the timeframe for their implementation, it indicates that the organization is advocating for measures to alleviate the financial pressures faced by caregivers.
The report underscores the substantial and growing financial commitment involved in family caregiving, impacting millions of Americans and requiring attention to address the associated economic challenges.
Story summarized from the original created by Anna Claire Vollers on rhodeislandcurrent.com, see more information here.
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