Thursday, July 6, 2017
We have blogged on several occasions about the important role adult children play in family caregiving. Ever wonder just how much care the kids are providing? The Center for Retirement Research at Boston College looked at that specific question.
How Much Long-Term Care Do Adult Children Provide?, an issue brief, offered these key findings:
As people age and their health deteriorates, they begin to need more help with daily activities.
- While many formal long-term care services are available, cost concerns and personal preferences lead many to rely on informal care from adult children.
At any given point, 6 percent of adult children serve as caregivers, and 17 percent will take on this role at some point in their lives.
Those who do provide care devote an average of 77 hours per month, which can take a toll on both the finances and health of the caregiver.
The caregiving burden on adult children is likely to become a bigger concern as baby boomers move into their 80s.
Look again at the numbers. Seventeen percent of adult kids will be caregivers at some point and at almost 80 hours a month, it's almost like working half-time. Here is the conclusion to the brief:
At any point in time, few adult children are taking care of their parents. But, over the course of their lives, about 17 percent of adults end up providing care for their parents. And when children do care for par- ents, the commitment is large – 77 hours per month. As baby boomers enter their 80s, a large increase in the demand for long-term care is likely, with a commensurate rise in the reliance on care from their children. Since boomers had fewer children per household than the previous generation, this develop- ment will place an unprecedented burden on their children, with implications for their physical, mental, and nancial well-being. However, research also suggests that the issue may be more challenging than just the relative sizes of the generations. After all, divorced parents need more support from children, and those children are more likely to provide support if they live nearby. For a generation characterized by low fertility, unstable marriages, and far- ung children, this situation sug- gests that the informal care the boomers will need may not be there – and demand for formal care will soon increase beyond its historical levels. Policymakers and the private sector must confront this prospect, with its attendant burdens on the long-term care sector and insurers of long-term care – the largest of which by far is an already overburdened Medicaid system.
Consider the last sentence of the conclusion in light of the debated Congressional action on the Affordable Care Act.
The full brief is available here.