Caregiving costs

A study issued June 25 by the AARP Public Policy Institute estimates the value of unpaid caregiving by family and friends at $350 billion nationally and $1.25 billion in Hawaii. Both the Honolulu Advertiser and the Star Bulletin reported on the study.

While $350 billion is attributed to actual caregiving, the report also cites other costs:

• Out-of-pocket costs (groceries, medicines, other cash support)
• Lost wages and retirement income (adverse effects on job security, career paths, employment benefits, and Social Security and pensions)
• Lost productivity (losses to businesses include absenteeism, workday interruptions, unpaid leave, reductions in hours from full-time to part-time)
• Health effects and associated costs (caregivers putting their own health at risk is a growing public health concern)

Valuing the Invaluable: The Economic Value of Family Caregiving (Issue Brief, pdf, 12pp/528kB)

Valuing the Invaluable: A New Look at State Estimates of the Economic Value of Family Caregiving (Data Digest, pdf, 8pp/576kB)