Family caregiving in R.I. valued at $1.44M a year

PROVIDENCE – Rhode Islanders provided an estimated $1.44 million dollars worth of care to family members last year, according to an AARP report released last week, while nationwide, the economic value of family caregiving came to $350 billion.
“Family caregivers play a vital role,” said Kathleen S. Connell, the advocacy group’s state director, adding that they are “the backbone of long-term care in our state.”
In the nationwide study, “Valuing the Invaluable: A New Look at the Economic Value of Family Caregiving,” the AARP Family Policy Institute found that unpaid caregivers provide “by far the majority of long-term services and supports received by persons with disabilities of all ages,” and most of those caregivers are women who also work at paid positions.
That benefit comes at a cost, however, one that is borne largely by the caregivers themselves.
Nineteen percent of U.S. workers are also family caregivers, and among those with the heaviest caregiving responsibilities, 92 percent report major changes in working patterns, The AARP found: 83 percent arrive late, leave early or take time off during the day; 37 percent go from full-time to part-time; and 41 percent take a leave of absence.
As a result, the study found, caregivers face lower wages, reduced job security and loss of benefits, including health insurance, retirement savings and Social Security earnings, all at a time when both income and benefits are critical. They also are more likely than non-caregivers to suffer chronic health conditions.