www.sperosfinancial.com Long-Term Care Tip of the Day!

Long-Term Care,  Steep Costs Even When It's 'Free'

Whether clients choose unpaid care or rely on it out of necessity, it's important to understand the hefty costs of such care. 

THE VALUE OF INFORMAL CARE 

In 2013, the estimated economic value of unpaid family care-giving was $470 billion. Caregivers offered 37 billion hours of care for their spouses, partners and other loved ones. The total value is based on 40 million caregivers providing approximately 18 hours of care every week at the rate of $12.51 per hour.

This value -- which surpassed total Medicaid spending ($449 billion) -- has risen steadily, up from $450 billion in 2009, $375 billion in 2007 and $350 billion in 2006, according to the AARP study. 

source:

Speros Financial 

Facebook 

LinkedIn