The cost of care giving

An estimated 21 per cent 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 Care giving study estimates the productivity losses to U.S. business as a result of these care-giving responsibilities.

Key findings include:

The total estimated cost to employers for full-time employees with intense care giving responsibilities is $17.1 billion.

The average cost per employee for those with intense care giving 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 organisations need to work together to help develop programmes 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

For text: http://www.metlife.com/WPSAssets/19063721401152559701V1FEmployerCostStudy2006.pdf

For more on Health Issues: http://www.ncpa.org/sub/dpd/index.php?Article_Category=16

FMF Policy Bulletin/ 01 August 2006