One giant misnomer in aging is that the government will protect us, that there is a safety net. 

I hate to be the bearer of bad news, but that is not the case. I have worked with many families who  had to learn this the hard way. 

When we have an aging parent, spouse, etc., it is common to think there are readily accessible resources when that person needs care, especially to help them stay in their own home.

According to AARP,  in 2021, $7200 was the average amount family members spent of their own money on caregiving. That number increases if the diagnosis is Alzheimer’s. 

Some hire in-home caregivers so the family member can continue to work. The average cost is $5100/month for a private aide to help in the home. Medicare does not cover this. 

The Credit for Caring Act was introduced in Congress in May, 2021, which would support up to $5000 in federal tax credit for working caregivers to cover things such as respite care, home modifications, in-home help, transport and assistive technology.

It is helpful (and often maddening) for caregivers to know that there is no built in safety net, so they need to proactively plan ahead of time. If you need help going down this road feel free to reach out to me for support.