The opportunity costs of informal elder-care in the United States: new estimates from the American time use survey

Chari, Amalavoyal V, Engberg, John, Ray, Kristin N and Mehrotra, Ateev (2015) The opportunity costs of informal elder-care in the United States: new estimates from the American time use survey. Health Services Research, 50 (3). pp. 871-882. ISSN 0017-9124

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Abstract

Objectives
To provide nationally representative estimates of the opportunity costs of informal elder-care in the United States.

Data Sources
Data from the 2011 and 2012 American Time Use Survey.

Study Design
Wage is used as the measure of an individual's value of time (opportunity cost), with wages being imputed for nonworking individuals using a selection-corrected regression methodology.

Principal Findings
The total opportunity costs of informal elder-care amount to $522 billion annually, while the costs of replacing this care by unskilled and skilled paid care are $221 billion and $642 billion, respectively.

Conclusions
Informal caregiving remains a significant phenomenon in the United States with a high opportunity cost, although it remains more economical (in the aggregate) than skilled paid care.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Economics
Subjects: R Medicine > RA Public aspects of medicine > RA0001 Medicine and the state. Including medical statistics, medical economics, provisions for medical care, medical sociology > RA0407 Health status indicators. Medical statistics and surveys
Depositing User: Amalavoyal Chari
Date Deposited: 29 Jul 2014 08:59
Last Modified: 12 Jan 2016 15:34
URI: http://sro.sussex.ac.uk/id/eprint/49423
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