In 2025, about 63 million American adults were providing
ongoing care for a child or another adult with a medical condition or
disability, according to AARP’s Caregiving in the U.S. Research Report. That is
nearly one in four adults nationwide, and it’s a significant 45% increase since
the Caregiving in the U.S. study was last conducted by AARP in 2015.
Of those caregivers, roughly 59 million are supporting an
adult with a complex medical condition or disability.
Here are the key findings in the report.
The average caregiver is 51 years old, with women accounting
for most of the caregivers (61%).
Many receiving care are older, with nearly half aged 75 or
older. Most of these older adults face multiple chronic health conditions,
including age-related decline, mobility limitations, cancer, and postsurgical
recovery.
Most caregivers live with their care recipient (40%) or
nearby (35%).
Nearly half of caregivers report at least one negative
financial impact due to their responsibilities. One-third of caregivers have
stopped saving money, and one-quarter have used up short-term savings.
So, if you find yourself in the role of a caregiver, how do
you cope financially?
Ask your employer about various options and financial
benefits.
- Consider
the Family Medical Leave Act (FMLA). According to the Department of Labor, the FMLA entitles eligible
employees of covered employers to take unpaid, job-protected leave for
qualifying family and medical reasons. FMLA requires continuation of group
health benefits under the same terms and conditions as if the employee had
not taken leave.
Eligible employees can take up to 12 weeks in a 12-month
period to care for an employee’s spouse, child, or parent with a serious health
condition. You may take off 26 weeks per year if you are caring for members of
the military.
Some states allow for additional protections.
Further, Paid Family and Medical Leave (PFML) is available
in 13 states. PFML provides eligible employees with pay and job-protected leave
while they take time off for caregiving.
- Explore
the possibility of working part-time, working from home, or a flexible
arrangement, such as a hybrid mix of on-site and remote
responsibilities. Many employers want to accommodate employees with
special requirements.
But it’s up to you to advocate for yourself. Approach your
employer and discuss the options that are available to you.
- Do you
have access to an Employee Assistance Program (EAP) at
your place of employment? Many mid-sized and large companies offer them.
What is an EAP? An EAP is a voluntary, work-based program
that offers free and confidential assessments, short-term counseling,
referrals, and follow-up services to employees who have personal and/or
work-related problems.
An EAP can offer financial and legal consultations,
counseling, elder care resources and referrals, stress management tools, and
more.
Whether through an Employee Assistance Program (EAP) or
other employer-sponsored services, employers can help connect you with
community-based resources, assist with enrollment in government benefit
programs, support appeals processes, provide financial aid guidance, and
advocate for access to available services and benefits.
- You’ve
accumulated vacation and sick leave, and so have your colleagues. Does
your company allow employees to donate paid time off (PTO or
leave-sharing programs) to other employees? If so, you may
consider asking others to donate a small percentage of their PTO so you
may care for a loved one.
Whether through a direct transfer or a ‘leave bank,’ these
programs have been created to support employees in need while bolstering
workplace morale and ensuring fairness.
Providing care is often a full-time responsibility in
itself. That makes it difficult to balance with full- or part-time employment,
whether an employee works remotely, on-site, or in a hybrid arrangement.
By accessing caregiver support benefits, employees can begin
to secure the resources, support, and assistance they need to manage caregiving
responsibilities more effectively.
This support reduces stress and helps employees stay focused
and productive at work while managing their financial and emotional well-being.
I trust you found this review to be insightful. If you have
any questions or simply want to talk through your portfolio or other financial
goals, please don’t hesitate to reach out to me or anyone on our team.
Thank you for choosing us as your trusted financial advisor.
We deeply value your confidence and are honored to help you navigate your
financial journey.
