If you help care for an aging parent, you’re not imagining it. It’s getting more expensive.
A new AARP report found family caregivers now spend an average of $11,508 a year out of their own pockets, nearly 60% more than 5 years ago. About 63 million Americans, roughly 1 in 4 adults, are now caring for a loved one.
When budgets get tight, many families look for ways to save. A common one is hiring a caregiver privately, often a friend of a friend or someone from an online ad, at a lower hourly rate.
The rate may be lower, but the responsibilities don’t go away. When you hire someone directly, you can become their employer. That can mean payroll taxes, workers’ compensation if they’re hurt in your parent’s home, and checking their background yourself. And if they get sick or quit, no one steps in.
A licensed home care agency handles those pieces for you. Our caregivers are screened, trained, insured, and backed by a team, and state auditors review our records to make sure it stays that way.
Before you decide, compare the full picture, not just the hourly rate.
If your family had to plan for care next month, would you know what it really costs?
