Alright, we're coming up on 525.
And you know, millions of Americans provide unpaid caregiving to
family or loved ones,
often absorbing the cost of care from their own pockets.
If that's you, you want to listen closely here.
We're stretching your dollar with a look at the financial
toll and some ways to ease the burden.
When you think of a caregiver,
perhaps a home health care nurse or aid comes to
mind,
but experts say they only represent a small percentage of
the profession.
In fact, more and more Americans are taking on the
title,
in many cases without the pay.
More than 48 million family caregivers are advocating and providing
hands on care and caregiving long distance to assist older
adults,
their parents, their aunts and uncles,
their spouses, their siblings, and they are providing.
The value of $600 billion in unpaid care and with
crippling inflation,
it's taking a financial toll on families nationwide.
Amy Goyer with AARP says she's been a caregiver much
of her adult life.
We tend to spend about 26%
of our income on out of pocket expenses,
you know, That's an average of $7000 a year across
the country.
Some spend much more, some spend much less.
But that's part of the reason Medicare does not cover
everything.
Some cases, Medicaid does, but not everyone qualifies.
But there are some options that can take the edge
off the financial burden,
including tax breaks. You may be able to claim your
loved one as a dependent or you may be able
to deduct their out of pocket expenses.
Be sure to check out what benefits your employer offers.
There's also help if your loved one is a veteran.
My dad was enrolled in VA healthcare and he was
able to receive home based primary care.
They have grants to help with with home modification.
Sometimes they're. Drivers can get paid by the VA.
The important take away here is to take a moment
to plan.
You're encouraged to think about the fact that if your
loved ones are going to need some help,
you may need to step in.
Keith.