It's No Small Matter: The High Cost of Dementia
Millions of Americans each year choose to care for a loved one with dementia at home instead of using a senior living community. But the amount of time and money it takes to go this route can really add up. More than you might think. Discover the real costs, both emotionally and financially, of handling dementia care yourself.
Hefty Costs of Dementia Care
- More than 15 million Americans provide unpaid care for people with Alzheimer's and other dementias.
- Caregivers spend on average 24.4 hours a week providing care for their loved ones.
- In 2015, caregivers of people with dementia provided informal, unpaid assistance valued at $221 billion.
- On average, caregivers lose an estimated $15,000 in income each year when they reduce their paid work hours or quit paying jobs to manage the demands of caregiving.
- The demands of looking after a relative often affect the caregiver’s own health. Nearly 60% of dementia caregivers say the emotional stress of caregiving is high or very high.
- Those who provide unpaid care of any type for 21 hours or more each week are particularly vulnerable to emotional stress and physical strain.
- On average, caregivers spend more on healthcare than non-caregivers: $800 more per year.
- Approximately 40 percent of caregivers suffer from depression.
If you are a caregiver, consider the impact this loving and very intense duty is having on your own life and whether it may be time to consider other options.