Social and Financial Costs of Millennial Dementia Caregivers

Social and Financial Costs of Millennial Dementia Caregivers
 

Social and Financial Costs of Millennial Dementia Caregivers

January 2018  |  White Paper 


Key Insight

“Dementia is a growing public health concern with the prevalence of AD expected to increase to 16 million in 2050."

 

Abstract

With the prevalence of Alzheimer’s disease expected to impact 16 million individuals by 2050, younger generations will increasingly assume caregiving responsibilities. More than a third of today’s caregivers are employed full-time. As millennials take on informal caregiving responsibilities, public and workplace policies must consider financial assistance or other support (e.g., family leave or allocated time off). This report explores the economic impact of the shift to millennial caregivers and the higher rate of incidence of Alzheimer's disease in minority groups. The report concludes with a discussion of strategies at the organizational- and system-level to support millennial caregivers.

"Compared with Caucasian Americans, African-Americans are twice as likely, and Latinos are at least 1.5 times as likely to develop AD."

Calls for Action 

  1. Define public policy in supporting family caregivers in providing care.
     

  2. Address how universities can better support student caregivers.
     

  3. Companies and employers take the lead in supporting working caregivers.
     

  4. Caregiver supports begin in communities.

Key Statistics and Infographics

Fig. 1. U.S. population 65+ (in millions)

Fig. 1. U.S. population 65+ (in millions)

Fig. 2. Projected number of years of life

Fig. 2. Projected number of years of life

Fig. 3. Millennial Caregivers by Race/Ethnicity

Fig. 3. Millennial Caregivers by Race/Ethnicity

 To view the full report, please click on the "download" button to receive a full PDF copy. 

 

Authors

Mounika Kata, MS

Health Equity Fellow at CHI

Sophie Okolo, MPH

Project Lead at AtSelah Health

Joseph Gaspero

CEO and Co-Founder at CHI

 

Joseph Gaspero is the CEO and Co-Founder of CHI. He is a healthcare executive, strategist, and researcher. He co-founded CHI in 2009 to be an independent, objective, and interdisciplinary research and education institute for healthcare. Joseph leads CHI’s research and education initiatives focusing on including patient-driven healthcare, patient engagement, clinical trials, drug pricing, and other pressing healthcare issues. He sets and executes CHI’s strategy, devises marketing tactics, leads fundraising efforts, and manages CHI’s Management team. Joseph is passionate and committed to making healthcare and our world a better place. His leadership stems from a wide array of experiences, including founding and operating several non-profit and for-profit organizations, serving in the U.S. Air Force in support of 2 foreign wars, and deriving expertise from time spent in industries such as healthcare, financial services, and marketing. Joseph’s skills include strategy, management, entrepreneurship, healthcare, clinical trials, diversity & inclusion, life sciences, research, marketing, and finance. He has lived in six countries, traveled to over 30 more, and speaks 3 languages, all which help him view business strategy through the prism of a global, interconnected 21st century. Joseph has a B.S. in Finance from the University of Illinois at Chicago. When he’s not immersed in his work at CHI, he spends his time snowboarding backcountry, skydiving, mountain biking, volunteering, engaging in MMA, and rock climbing.