Study Detailing Higher Costs For Caregivers Of The Elderly Further Illustrates Importance Of Menendez's Legislation To Provide Relief

Study Detailing Higher Costs For Caregivers Of The Elderly Further Illustrates Importance Of Menendez's Legislation To Provide Relief

Menendez's Caregiver Assistance and Relief Effort (CARE) Act would provide tax credits and make long term care more affordable

Washington - A study published today by the National Alliance for Caregiving and Evercare demonstrates that out-of-pocket cost for caring for the elderly has risen to about $5,500 a year nationwide. The report shows that these estimates are a significant increase from previous years and that federal assistance in the form of tax deductions, credits or other stipends are needed.


U.S. Senator Bob Menendez (D-NJ), an advocate for New Jersey families, has authored The Caregiver Assistance and Relief Effort (CARE) Act, which would help families afford the cost of caring for ailing family members or loved ones by making long-term care more affordable. The legislation would provide tax credits to those caregivers; encourage individuals to plan for and invest in their own long-term care by offering a tax deduction for long-term care insurance; and increase funding for the existing National Family Caregiver Support Program, which supports a wide range of important services for older persons.

"Millions of caregivers in this country are making sacrifices to care for their loved ones everyday. They are facing a rise in the costs for caring for their elderly family members, and we should ease this burden-that is what the CARE Act aims to accomplish," said Menendez.

New Jersey has the ninth most caregivers in the county, with more than 831,000 caregivers in the state.


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