THE COST OF CAREGIVING
July 27, 2006
An estimated 21 percent of U.S. households provide care for an adult family member or friend age 18 and older. A new MetLife Mature Market Institute and National Alliance for Caregiving study estimates the productivity losses to U.S. business as a result of these caregiving responsibilities.
Key findings include:
- The total estimated cost to employers for full-time employees with intense caregiving responsibilities is $17.1 billion.
- The average cost per employee for those with intense caregiving responsibilities is $2,411.
- The total estimated cost to employers for all full-time, employed caregivers is $33.6 billion.
- The average cost per employee for all full-time, employed caregivers is $2,110.
As life expectancy increases, more workers will be involved in caring for friends and family, say the study's authors. Employers should take proactive measures now to address these issues. To help meet this challenge, employers, employees, and community organizations need to work together to help develop programs and services for working caregivers.
Source: "The MetLife Caregiving Cost Study: Productivity Losses to U.S. Business," MetLife Mature Market Institute and National Alliance for Caregiving, July 2006
Browse more articles on Health Issues