Watch Live: Underserved & Overwhelmed — Solutions for the Financial Crisis Facing Family Caregivers

One in four Americans today serves as a family caregiver — someone who helps an aging parent, a spouse, or a loved one with a disability live as independently as possible. These unpaid caregivers manage everything from meals and doctor visits to bills and daily personal care, often while working and raising children of their own.

Those responsibilities carry a steep financial cost: caregivers spend more than $7,200 a year out of pocket — roughly 26 percent of their income — undermining their financial security as prices for groceries, health care and utilities rise.

New state-by-state data from AARP highlights the nationwide scale of caregiving and the strain it places on families. The data has helped elevate caregiving as a public-policy issue and fueled momentum for bipartisan solutions, including proposals for a caregiver tax credit and allowing Flexible Spending Account (FSA) and Health Savings Account (HSA) dollars to be used for a parent’s care.

Why It Matters

Beyond the immediate financial hit to households, unpaid caregiving affects workforce participation, retirement savings and long-term financial stability for millions of Americans. As the population ages, these pressures are likely to grow unless policymakers, employers and communities provide stronger supports.

Policy Options and Political Momentum

Lawmakers on both sides of the aisle are considering targeted measures, such as a federal caregiver tax credit and expanded FSA/HSA eligibility. During his campaign, President Trump called for a national tax credit for caregivers, and polling shows roughly 84 percent of voters back caregiver-friendly policies — underscoring bipartisan public support.

What Employers Can Do

Employers can help by expanding flexible benefits, offering caregiver leave, providing access to counseling and navigation services, and allowing greater use of pre-tax benefit accounts for caregiving expenses. These steps can reduce turnover, improve productivity and support employees juggling work and caregiving responsibilities.

Join the Conversation

How has the role of family caregivers evolved, and what is the full financial toll on households and the broader economy? Which bipartisan proposals show the most promise, and will tax incentives be enough or is broader systemic reform required? For answers, join The Hill for a live discussion with lawmakers, advocates and experts exploring ways to support the millions who enable independent living every day.

Event: Live discussion hosted by The Hill — scheduled to begin at 8:30 a.m. EST. Watch the live video above.

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