Newly released data from the AARP shows approximately 1.6 million adults in Michigan provide more than $19 billion in unpaid care to older parents, spouses and other loved ones.
Cassie Thierfelder is the Manager of Advocacy for AARP Michigan.
“We have about 53% of our state’s caregivers juggling full or part time jobs who have had to reduce hours or leave the workforce altogether due to care giving responsibilities which jeopardizes their own financial security.”
Thierfelder says 80% of caregivers pay out of their own pockets to meet their loved ones’ needs, averaging more than $7,200 a year.
AARP is calling on lawmakers to offset financial burdens by supporting a state caregiver tax credit and expanding the Homestead Property Tax Credit.
“Having a caregiver tax credit that would allow caregivers to recover some of the extra financial costs they’re spending to provide family care would be a huge financial relief for so many Michigan families.”
AARP also supports a proposed federal tax credit, expanded flexible spending and additional health saving account options.
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