This blog was provided by Gallagher Affinity, a premier sponsor of the PICPA

By Irene M. Walton

Millions of Americans are caring for one or more chronically ill or incapacitated loved ones while working and managing their own households. It’s a stressful responsibility that they – and perhaps you – do out of love. If you’re a family caregiver, you’re not alone. The PICPA has just launched a new and free member resource: YourCare360. YourCare360 guides you through the caregiving journey, helping you with the choices available to you and your loved ones.   

YourCare360 is an all-in-one solution for stressed-out caregivers. It connects PICPA members and their families to online resources, educates them through one-on-one information sharing, and provides funding options so that the cost of care does not devastate family budgets.  

The physical, mental, and financial burdens of caring for a loved one can stretch anybody to the breaking point. Yet, we are often reluctant to ask for help or have trouble accessing community resources. YourCare360 matches caregivers with experts who can improve their quality of life. Here is an overview of this new PICPA program and how it can relieve the pressures of caring for others.  

The Caregiving Big Picture

A caregiver, also known as an informal caregiver, assists a person with the activities of daily living or medical and financial tasks, typically without pay. They can be the spouse of someone who needs help or another family member, friend, or neighbor. “Formal caregiver” refers to people who receive pay for providing services.

According to the National Alliance for Caregiving (NAC) and AARP, 53 million (or one in five adults) provided care in the 12 months prior to the beginning of the study. (See Caregiving in the U.S. 2020.)  

The Family Caregiver Alliance estimates that caregivers spend 13 days each month shopping for their loved ones, preparing food, cleaning the house, washing clothes, driving them to their appointments, and providing medicine. They also spend six days per month feeding, dressing, grooming, walking, bathing, and toileting. An additional 13 hours a month go toward researching and accessing medical care or assisting with finances. Adding these tasks to a caregiver’s work and personal obligations often leaves no time for hobbies, exercise, and relaxation.  

The NAC/AARP study reveals that caregivers tend to be women (61%) and represent diverse ethnic groups, with the majority (61%) being non-Hispanic whites. The study also found that people who care for adults are, on average, 49 years old; 46% are 18 to 49 years old; and 54% are ages 50 and over.  

The average caregiving duration is four years. This is a long time for people to shoulder the extra burden of helping a family member while also managing their personal affairs.  

The Impact of Caregiving

Caring for an ailing family member or friend can be draining. Not only is it time-consuming, it also can tax one’s physical and mental health. The NAC and AARP study reveals that nearly 20% of caregivers endured significant physical strain, while 36% suffered emotional stress. In addition, they often feel alone (21%), receiving little or no help from other family members or health care professionals.

Making matters worse, 18% of informal caregivers experience financial strain after assuming their role. About a third suffered two or more financial impacts, including no longer being able to save, taking on debt, using up personal savings, and leaving bills unpaid or paying them late.  

To cope with the challenges, caregivers often need outside services, which can be expensive. For example, in the NAC and AARP survey, 25% of caregivers said it was tough to find affordable support in their communities; another 33% found it moderately difficult. That means having meals delivered to an ailing family member, accessing in-home health services, or accessing transportation often aren’t feasible.

For PICPA members and their families, now there’s help: YourCare360 from Gallagher Affinity.  

The YourCare360 Caregiving Solution

If you need help, YourCare360 is there for you. It will help you connect with community resources, educate you about how to access help, and prepare you to access long-term care in the future (should you need it).

Specifically, YourCare360 provides an online portal of caregiving information and services:

• Care planning resources  
• A web-based financial coach
• In-home loneliness solutions
• Home health evaluations
• Real estate and moving assistance
• Caregiving crisis assessments
• End-of-life planning
• Long-term care funding analysis

The program also offers multiple ways to learn about these resources, including via mail, webinars, workshops, and email.  

PICPA members can lean on YourCare360 to educate themselves about the financial impact of long-term care and the importance of advanced planning. It also offers an opportunity to evaluate long-term care needs and protect yourself should you need future support.

Here is the bottom line: family caregivers do exemplary work under stressful conditions. They also labor alone, sometimes only asking for help when it’s too late. Fortunately, there’s a new resource for PICPA members and their families: YourCare360.  

Get more information on this new, free, and essential PICPA member resource.  

Irene M. Walton is area vice president, affinity manager, with Gallagher Affinity in Mount Laurel, N.J. She can be reached at irene_walton@ajg.com. Gallagher Affinity is a PICPA sponsor.

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Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of the PICPA's officers or members. The information contained herein does not constitute accounting, legal, or professional advice. For actionable advice, you must engage or consult with a qualified professional.