The number of family caregivers who provide support for parents and aging relatives continues to grow in Connecticut. As the baby boomer generation ages the need for elder care will increase and is expected to exceed available resources by 50% within the next decade. Many families are now faced with caring for their elderly parents/relatives while also caring for their dependent children. Employees who provide care to aging parents will likely need time off from work. These employees are providing a wonderful service to the aging and should not be penalized due to a lack of paid time off.

Key Facts:

  • The population of seniors is rapidly growing in the  U.S. In 2010, 40.4 million Americans—roughly one  in every eight—were 65 years of age and older,  an increase of 15.3% since 2000.
  • Studies show that at any given time during the year there are 711,000 family caregivers in Connecticut providing 465 million hours of care at a total value of $5.8 million.
  • Due to the rapid aging of the population, the demand for elder care is increasing dramatically.
  • A survey by AARP found that close to two-thirds of workers between the ages of 45 and 74 provide care to an aging or other adult loved one, and approximately 20% of these working caregivers expect they will need time off from work in the next 5 years due to their caregiving responsibilities.
  • Workers providing care to a loved one over the age of 50 report spending more than $5,500 out of pocket—or 10% of their median annual income—on caregiving in 2007. To finance these increased caregiving costs, 38% reported that they reduced or stopped saving for their own future, 34% reported using their savings, and 23% reported cutting back on their own preventive health or dental care.

Related Links: