Uncompensated Care Provided by NJ Caregivers is a Whopping $12.9 billion
In 2017, approximately 1.08 million unpaid New Jersey family caregivers provided an estimated 910 million hours of uncompensated care ($14.80 per hour)– worth a whopping $12.9 billion – to a parent, spouse, partner or friend, according to a recently released report in AARP’s Valuing the Invaluable series.
Taking a Look at the Complexity of Caregiving
The AARP Public Policy Institute Report, Valuing the Invaluable 2019 Update: Charting a Path Forward, explores the growing scope and complexity of caregiving, including an aging population, more family caregivers in the paid workforce, and the increasing amount of medical and nursing tasks entering the home.
“It’s encouraging to see greater recognition of the emotional, physical and financial struggles that caregivers face,” said Susan Reinhard, senior vice president, AARP Public Policy Institute in a statement announcing the release of the study’s findings. “But in a November the demands on family caregivers are not just a family issue and we must continue to push for meaningful support and solutions,” says Reinhard.
At the national level, in 2017 approximately 41 million unpaid family caregivers provided an estimated 34 billion hours of compensated care, worth a staggering $470 billion. The researchers found that the total economic value of caregivers is more than: all out-of-pocket spending on U.S. health care ($366 billion in 2017); the total spending from all sources of paid caregiving, otherwise known as Long-Term Services and Supports ($366 billion in 2016); the total combined value added to the U.S. economy by the education and arts/entertainment sectors ($460 billion in 2017).
The report offers recommendations to better support family caregivers, including developing a robust and comprehensive national strategy with the needs of an increasingly diverse caregiver population included; providing financial relief and expanding workplace policies; developing caregiver training programs; and expanding state and federal funding for respite programs.
To read the full report and methodology, visit: www.aarp.org/valuing.
Resources and information on family caregiving, including AARP’s Prepare to Care Guides, are available at www.aarp.org/caregiving.