The Cost to Hire a Caregiver vs. Being a Family Caregiver

Caregiving.com

The Cost to Hire a Caregiver vs. Being a Family Caregiver

Caregiving.com

According to Indeed.com, the cost to hire a caregiver can range anywhere from $9 to $17 per hour depending on where you live. This may not seem like a lot, but over the course of a month or year these costs can add up. 


This is why many family members make the tough decision to forgo the cost to hire a caregiver and take on the full-time job themselves. And while serving as a family caregiver is one of the most rewarding and valuable roles you can take on, it often comes at the expense of a person’s financial and emotional health.


Fiscally, caregiving is expensive and can be a burden to a family caregiver’s finances. In fact, AARP says a family caregiver can expect to spend 20% of their personal income on out-of-pocket costs related to caring for their loved one. Additionally, family caregivers often have to cut back on the hours they work at their full-time paying job or quit their salaried job altogether. This means the caregiver is spending countless hours assisting their loved one with daily tasks, cooking meals, taking them to appointments, and so much more--to the detriment of their personal finances.


Emotionally, family caregiving is stressful and contributes to caregiver burnout. This comes with increased anxiety, feelings of anger or guilt, and exhausting oneself spending endless time and energy caring for their loved one. Family caregiving is a 24/7 job with few breaks, so the emotional toll it takes on the caregiver can’t really be quantified. 


And despite all of this--despite family caregiving being a full-time job, despite the role taking a massive toll on one’s financial and emotional health, and despite it being invaluable for people to be cared for by a family member at home rather than a stranger--the value family caregivers provide remains largely overlooked, and they aren’t getting the support they need.


So, why aren’t more family caregivers being paid for their job? Why isn’t their value fully recognized by the government and insurance companies alike? We aim to answer these questions and more throughout 2021, our year of action, as we explore topics around defining the value of a family caregiver and force legislators to take action and recognize this value in tangible ways.


Please join us as we take on the difficult task of proving the value of family caregivers and getting family caregivers the recognition and support they need.