Money-Saving Tips for Family Caregivers

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Julie B. Kennedy, CEO & Co-Founder, RubyWell

It takes more than love and commitment to care for an aging parent or family member. Any family caregiver can tell you that it also takes money. At first, you might not notice the incidental costs of the gasoline that gets you to and from their doctor appointments or the prescriptions you’re paying for. But as their needs intensify, so does the cost of caring for them.

An AARP study found that the average family caregiver spends over $7,200 a year to provide care. The costs are even higher for those caring for someone with dementia, approaching $9,000 per year. Where is all that money going?

Ways family caregivers can save money

  • Prescription Savings
  • Caregiving Supplies
  • Durable Medical Equipment (DME)
  • Doctor Visits
  • Utilities
  • Taxes
  • Respite Care
  • Government Benefits
  • Medicaid
  • Medicare Premiums
  • Shoe Allowance
  • Subsidized Housing

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