Financial Aspect of Caregivers

Medical cost
Where can they get money to pay for the medical
costs i.e treatment, hospital bills, and medical
consult, medication.
Do they afford to pay for the medical costs.
Financial source of the family
How can they pay for their living expenses if the one
who used to be the backbone of the family is sick.
Do they need to quit the job or education to take
care of their family.
Do they need to cut down some of their needs.
Based on a survey done by American National Alliance of Caregiving on
2007i t is reported that;
Survey respondents reported that they had an estimated annual out-of-
pocket expense of $5,531.
The most common expense categories of the survey respondents were
household goods, food and meals (42% reporting), travel and
transportation costs (40%), and medical care co-pays and pharmaceuticals
(31%).
The caregivers usually were cutting back on leisure activities (49%),
vacations (47%), reducing or stopping saving for their own future (38%),
and deferring major purchases or home improvement projects (34%).
Among the survey respondents, 37% reported that they had quit their job
or reduced work hours as a result of caregiving responsibilities. Only 35%
of the sample were working full time; 53% were not working. Long-
distance caregivers had the highest annual expenses ($8,728) compared to
co-resident caregivers ($5,885) and those who cared for someone nearby
($4,570).