THE FINANCIAL CONSEQUENCES OF FAMILY MEMBERS BEFORE MOVING TO A NURSING HOME

Анотація

The financial consequences of informal caregiving before a family member transitions to a nursing home are often overlooked in policy discussions, despite their profound impact on caregivers, employers, and society. This paper examines the economic burdens faced by family caregivers, including lost wages, increased out-of-pocket expenses, and long-term financial instability. Informal caregiving frequently disrupts careers, leading to stagnation, reduced lifetime earnings, and widening gendered economic disparities, disproportionately affecting women. Employers also face significant costs due to absenteeism, reduced productivity, and workforce attrition. As reliance on informal caregivers grows, policy discussions increasingly focus on solutions such as paid family leave, tax incentives, and pension protections. This paper highlights the urgent need for systemic policy interventions, including comprehensive financial support, workplace accommodations, and expanded access to government assistance programs. Addressing these challenges is crucial for reducing caregiver burden, promoting economic sustainability, and fostering a more equitable and supportive model for elder care in aging societies.