Panel:
Who Cares? Characteristics and Outcomes of Those Providing Care to Older Adults and Those in Need of It
(Poverty and Income Policy)
*Names in bold indicate Presenter
The number of people in the United States over age 65 is projected to almost double in size by 2050, comprising 1 of every 5 people. Of the population who were over age 65 in 2016, more than 40 percent were over age 75. As Americans age, family caregivers, such as adult children and spouses, will play a critical role in supporting the needs of this population. However, those who provide eldercare may face risks to their own long-term financial security. For example, caregivers may take time out of the workforce or reduce their work hours to provide care, or they may stop saving for their own retirement or tap into their retirement savings to pay for out-of-pocket caregiving expenses, such as travel or medical expenses. These caregivers may ultimately receive less in Social Security benefits if they reduce their workforce participation. Moreover, survivors or those without a spouse or adult children to care for them face risks as they age and find themselves in need of care.
This panel will explore the outcomes of both populations. Through original empirical analysis of several nationally representative survey datasets, such as the American Time Use Survey and the Health and Retirement Survey, the authors will examine characteristics of caregivers in the U.S., the impact of caregiving on work and retirement security, strategies employed by older adults with disabilities who do not have a spouse or child to care for them, and policy options to improve the retirement security of caregivers.
