Women—mothers, daughters, wives, sisters, and friends—often serve as the primary caregivers in American families, sacrificing time, income, and personal well-being. But as they care for others, too many face a looming crisis of their own.
About 66% of caregivers in the U.S. are women, according to the Family Caregiver Alliance. They often provide more hours of care than men, leading to lost job opportunities, reduced retirement savings, and increased emotional strain. MarketWatch reports unpaid caregiving can delay retirement by up to 21 years, with some women seeing a 40% to 108% drop in savings by age 65.
The burden is heaviest on the “sandwich generation”—those caring for aging parents while raising children. Many women eventually will need extended care but often find themselves alone after outliving a spouse.
This means that professional in-home caregivers or long-term care facilities, such as assisted living, will be required. Since health insurance and Medicare only pay for short-term skilled care, the cost can adversely impact families and finances.
Search for quality caregivers and long-term care facilities with the LTC News Caregiver Directory.
Women’s longer life expectancy compounds the issue. The World Health Organization notes that unpaid family members provide the most long-term care, but rising costs and caregiver shortages make professional care harder to secure.
Long-Term Care Insurance can ease this burden. It provides tax-free benefits to help pay for quality care, preserving financial stability and reducing pressure on loved ones.
Most people acquire an LTC policy between the ages of 47 to 67. Use the Long-Term Care Insurance Education Center to learn more about available options.
Aging is an inevitable reality—and without planning, families will face a crisis that makes difficult decisions even harder.
