Economic Value of Unpaid Family Caregiver Time
Author Information
Author(s): Kaufman Brystana, Wenhan Zhang, Shibeika Sahar, Huang Ro, Vanderboom Catherine, Holland Diane, Van Houtven Courtney, Griffin Joan
Primary Institution: Duke University School of Medicine
Hypothesis
This study aims to quantify the economic value of unpaid caregiving by rural family caregivers.
Conclusion
The study found that unpaid family caregivers of decedents reported significantly more caregiving hours and higher costs compared to those of survivors.
Supporting Evidence
- Caregiving hours were self-reported by family caregivers.
- The proxy cost approach assigned value to caregiver hours using the national median home health aide wage.
- The unadjusted opportunity cost approach assigned value using the national median wage, by sex and education level.
- The adjusted opportunity cost approach assigned value by workforce participation.
- Family caregivers of decedents reported significantly more hours per person-month compared to survivors.
- Median opportunity cost for caregivers of decedents was higher than for survivors.
- Proxy cost may undervalue caregiver time.
- Policymakers must consider the economic impact of unpaid caregiving when designing policies.
Takeaway
This study shows that taking care of sick family members is very valuable, and it costs a lot of money, especially when the person is at the end of their life.
Methodology
The study used data from a multi-site randomized controlled trial and three valuation methods to quantify caregiving hours and costs.
Participant Demographics
94% non-Hispanic White, 71% with a college degree, 56% spouses, 51% in the workforce.
Statistical Information
P-Value
p<0.001
Statistical Significance
p<0.001
Digital Object Identifier (DOI)
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