Mature Life Features

. . .mulled replacing some of her furniture

but she gave it up because she said

she and her recliner go way back.

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Caregivers Pay Economic, Emotional Prices

Besides the shoulder-stooping emotional cost of caring for ill and ailing loved ones, there is can be an enormous economic price to pay by the more than 22 million U.S. families who provide such care.

Caregiving costs individuals some $660,000 over their lifetimes in lost wages, and lost pension contributions and Social Security because they take time off, leave their jobs or miss out on opportunities for training, promotions, and plum assignments.

Almost 85 percent of employees reportedly make adjustments to their work schedules by taking sick leave or vacation time, decreasing work hours, taking a leave of absence, switching to part-time employment from full-time, resigning, or retiring.

Elder care has more negative impacts on workers than does child care, particularly for those who are the primary caretakers for an older adult. Taking care of an aging parent is always difficult, but it is even more difficult for employees who have to care for their parent in their own home. It essentially means employees have a second shift of work when they get home.

As the population ages, the number of caregivers grows and the personal and corporate costs rise. Employees who care for elderly or sick relatives with long-term-care insurance are twice as likely to stay in the workforce as are workers who care for relatives without coverage, according to data from three MetLife institute surveys.

In addition, working caregivers of loved ones with long-term-care insurance coverage are less likely to experience such types of stress as having to provide constant attention to the care recipient or having to offer caregiving while ailing themselves.