RAND Report Details Challenges for Military Caregivers

A recent RAND report reveals that over 14 million Americans are caregivers for military and veteran members, providing services valued between $199 billion and $485 billion annually. Despite their significant contributions, many caregivers face economic hardships, with 26% reporting discrimination due to their caregiving responsibilities and an annual loss of approximately $10,000 in household income. The report highlights that 40% of caregivers for individuals aged 60 and under experience probable depression, and many lack access to necessary mental health services. Caregivers spend an average of $8,583 out-of-pocket each year, exacerbating financial stress, as nearly one-third live below 130% of the federal poverty level. Recommendations include increasing financial aid and mental health support, as well as improving community resources for these caregivers. The study underscores the need for greater recognition and support for military and veteran caregivers, who often balance caregiving with personal and professional commitments.