In the United States, the role of the family caregiver has become both a lifeline and a heavy burden for millions. As of 2024, an estimated 53 million adults are providing unpaid care to an older relative, spouse, friend, or neighbor—a significant increase that highlights the evolving realities of aging in America.

Matt McCann, a leading expert on long-term care planning, attributes this rise to advances in medical science and increased longevity.

"People are living longer, which is wonderful, but it comes with challenges. This underscores the growing reliance on family members to support aging loved ones, especially as too many American families have neither planned for nor even discussed long-term care."

The emotional weight of this responsibility often goes unspoken. Caregivers sacrifice time, energy, and financial stability to ensure their loved ones age with dignity.

"It's not just about the logistical demands—it's about the love and commitment that compel so many to step into this role, often without adequate preparation or resources."

McCann says that too many American families have not planned or even discussed long-term care. This, he explains, creates a family crisis.

Duties and Responsibilities of Family Caregivers

Family caregivers undertake a wide array of tasks to support their aging relatives. These responsibilities often include:

• Personal Care Assistance: Helping with activities of daily living such as bathing, dressing, grooming, and toileting.
• Household Management: Handling chores like shopping, laundry, housework, meal preparation, transportation, bill payments, and home maintenance.
• Medical Tasks: Administering medications, managing appointments, and coordinating with healthcare providers.
• Emotional Support: Providing companionship and emotional reassurance to combat feelings of loneliness or depression in older adults.

These duties can be time-consuming and physically and emotionally demanding, often requiring caregivers to be available around the clock.

Impact on Career and Family Life

Balancing caregiving with professional and personal responsibilities poses significant challenges. According to a report by Guardian Life, one in five caregivers has taken a leave of absence or a demotion to accommodate their caregiving duties.

The same report highlights that only 23% of caregivers rate their mental health as "good," with 40% noting that caregiving negatively affects their stress levels.

McCann says that financially, caregivers often face substantial burdens. Many incur out-of-pocket expenses for their loved one's care, leading to financial strain. A study by the National Alliance for Caregiving and AARP found that caregivers spend an average of $7,000 annually on caregiving expenses.

The emotional toll is equally significant. Caregivers frequently experience increased anxiety, depression, and other mental health issues due to the pressures of their role.

"The constant juggling of responsibilities can lead to burnout, affecting both personal well-being and relationships with other family members."

Financial Implications of Professional Care

When the demands of caregiving become overwhelming, families often consider professional care options. However, these services come at a considerable cost, according to a nationwide long-term care cost survey by LTC News. For instance, in Villa Park, Illinois, the median annual cost for home healthcare is approximately $77,256, while a nursing home can cost around $114,974 per year. The cost of long-term care services varies depending on where you live.

Without Long-Term Care Insurance, these expenses can quickly deplete a family's income and assets.

"Many families underestimate the financial impact of long-term care. Without proper planning, the costs can be devastating."

The Role of Long-Term Care Insurance in Retirement Planning

Given the high costs associated with professional care, Long-Term Care Insurance has become an essential component of retirement planning. LTC Insurance policies are designed to cover services that assist individuals with chronic illnesses or disabilities, or just frailty due to aging, including both in-home care and facility-based care.

McCann advises that incorporating Long-Term Care Insurance into your retirement plan provides a safety net.

Best Long-Term Care Insurance Companies: 2025 Provider Guide.

"It ensures that you have the resources to access quality care without compromising your financial stability or placing undue burden on your family."

He further notes that early planning is crucial. The younger and healthier you are when you purchase a policy, the more affordable it will be.

How Much Does Long-Term Care Insurance Cost at My Age?

McCann says most people purchase Long-Term Care Insurance between ages 47 and 67, but premiums vary dramatically between insurance companies.

Balancing Caregiving and Life is Challenging

The increasing prevalence of family caregivers in America highlights the need for comprehensive planning and support. Balancing caregiving responsibilities with career and personal life can be challenging, but with proper planning, including considering Long-Term Care Insurance, families can manage these demands more effectively.

If your loved one needs care, find professional caregivers or long-term care facilities to provide all the care or even provide respite care for a family caregiver.

McCann recommends the LTC News Caregiver Directory. The directory, which is free to use, has over 80,000 caregivers, home health agencies, senior communities, adult day care centers, assisted living facilities, memory care, and nursing homes.

You can search for quality long-term care services near you or a loved one with a few quick clicks.

As McCann aptly puts it, planning for long-term care is not just about protecting your assets; it's about ensuring that you and your loved ones have access to the care you need without sacrificing your quality of life.

By understanding the roles and challenges of caregiving and proactively planning for future care needs, individuals can navigate this complex journey with greater confidence and peace of mind.

Get Professional Planning Help

Matt McCann is licensed in all 50 states and the District of Columbia, representing top-rated insurance companies that provide long-term care solutions. His innovative approach allows clients to consult with him over the phone while viewing his computer screen, ensuring a convenient and transparent process for learning about, exploring, and selecting the best options.

You can get free and accurate quotes from all the top companies, along with professional recommendations -  Free and Accurate Quotes.

Media Availability

McCann is available for radio, TV, and podcast interviews. He also speaks to groups and organizations worldwide on the issues of aging, caregiving, health, and long-term care. Contact McCann through his website for information.