Long-Term Care Insurance - 2014 Cost of Care Survey Results
When a loved one needs long term care, life can get complicated quickly. Family members from across generations and locations may need to juggle schedules and responsibilities to help out. Old family tensions can resurface, while lasting bonds can show their resilience. And, of course, new expenses often emerge.
One third of caregivers had provided 30 or more hours of care per week. The average weekly time requirement: 21 hours. Overall, 65% of caregivers had missed some work. This took a wide range of forms, from having to work fewer hours, to repeatedly being late or absent, to losing jobs or having to change career paths.
Caregivers’ loss of personal time can have a negative impact
37% of caregivers indicated their relationship with their spouse/partner was negatively impacted
34% indicated a negative impact with their family in general
46% say providing care impacted their personal health and well-being
47% experienced negative feelings such as depression
32% said the situation affected their stress levels
52% of care recipients stated they experienced a high degree of stress related to long term care.