The First, In-Depth Look at What Caregivers Spend and What they Sacrifice
Half of those caring for a loved one 50 years or older-as many as 17million Americans-spend more than 10 percent of their annual income oncaregiving expenses and often sacrifice their own financial and personalwell-being to do so, according to a new Evercare/National Alliance forCaregiving (NAC) study. The Evercare/NAC Study finds that caregivers who haveannual median income of $43,026 spend an average $5,531 a year on caregiving.At lower income levels, the annual average costs remained about $5,500,making their financial burden even heavier. Evercare, one of the nation'sleading health care coordination programs, collaborated with NAC, the leadingnational research authority on caregiving, to conduct the study.
The Study also found:
* One in three respondents (34 percent) has used their own savings tocover the cost of caregiving
* One-quarter (23 percent) have cut back on their own health carespending.
* 38 percent are saving less or not at all for their children's future
* Many cut back on basics: clothing, utilities or transportation (27percent) and groceries (25 percent)
* 23 percent cut back on personal medical or dental expenses
Despite the sacrifices, most study respondents see caregiving as a laborof love and one they do willingly.
Preview and access this video on Pathfire DMG: Slug # 30505
Search within the PR Newswire or MultiVu section by story ID # 30505 orby headline
For technical assistance call Pathfire Customer Care at 1-888-345-0489 ore-mail email@example.com
NEWS: Caregivers Sacrificing Their Own and Their Children's FinancialFutures to Meet Expenses Today
FORMAT: B-roll and Soundbites
ADDITIONAL RESOURCES: Video, contact information and more available at:http://www.prnewswire.com/broadcast/30505/press.html
VIDEO PROVIDED BY: Evercare
Contact: FOR MORE INFORMATION, PLEASE CALL: MultiVu Media Relations,1-800-653-5313 EXT. 3SATELLITE FEEDS: Monday, November 19th, 2007 Tuesday, November 20th, 2007 1:30 PM - 1:45 PM ET 1:30 PM - 1:45 PM ET Galaxy 25 Galaxy 25 C-Band C-Band Transponder 13 Transponder 13 Downlink Freq. 3960 Vertical Downlink Freq. 3960 Vertical