Caregivers of Veterans Spend 1.5 Times More on Out-of-Pocket Costs Compared to Other Family Caregivers in Montana

Helena, Mont., Nov. 10, 2023—Montanans who provide care for veterans spend on average $11,500 of their personal income on out-of-pocket costs related to caregiving each year—1.5 times higher than what other family caregivers spend ($7,242), according to AARP data. And 43 percent of veteran and military caregivers experienced at least one financial setback such as having to take on more debt or dip into personal savings, according to research from AARP and the National Alliance for Caregiving.

“Montanans caring for our veterans should not have to worry about their finances on top of caregiving responsibilities, yet many do,” said Tim Summers, AARP Montana State Director. “AARP Montana’s free resources can help our ‘hidden heroes’ build a more secure financial future.”

Montana is home to one of the largest veteran populations per capita in the nation.

Across the country, more than 6.5 million veteran and military caregivers provide $14 billion in unpaid labor for America’s wounded warriors every year—putting their own financial well-being aside—and at risk.

“The financial challenges veteran and military caregivers face are too often invisible or ignored,” said Pete Jeffries, National Director of AARP’s Veterans & Military Families Initiative. “Caregiving responsibilities and expenses add up over time. From cleaning clothes at the laundromat or gassing up the car for a medical appointment, these caregivers need support to make it easier for loved ones to live independently in their homes for as long as they can.”

The U.S. Department of Veterans Affairs (VA) offers support and resources for caregivers of veterans enrolled in VA health care through the VA Caregiver Support Program. This program provides caregivers with access to VA health care benefits, caregiver education, financial aid, mental health services and up to 30 days of respite care. But of the 88,313 veterans living in Montana, only 43 percent have utilized their earned benefits at VA health care, according to the U.S. Census Bureau.

 AARP and the Elizabeth Dole Foundation will host a webcast on the financial impact of veteran and military caregiving at 7 p.m. EST on Wednesday, November 15. AARP Caregiving Expert Amy Goyer and the Dole Foundation’s Financial Wellness Program Manager Shawn Moore will share experiences and insight from their personal caregiving journeys and provide expert advice on how to build a secure financial future.

 AARP offers free resources for veteran and military caregivers, including:

• AARP Financial Workbook for Veteran and Military Family Caregivers
• Military Caregiving Guide for Veterans, Service Members and Their Families
• Mental & Emotional Health Support Guide from AARP and the Elizabeth Dole Foundation
• AARP Montana Resource Page for Veterans
• AARP Montana Resource Page for Caregivers

For more information on AARP’s support for veterans and military families, visit aarp.org/veterans.

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About AARP
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the more than 100 million Americans 50-plus and their families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.

 About AARP Montana
For over 50 years, AARP has been working right here in big sky country to improve the lives of Montanans 50 plus. As one of Montanan’s largest non-profit membership organizations, with more than 134,000 members, we advocate for what matters most to families: personal fulfillment, health security and financial stability including fraud prevention. 

We’re committed to helping already great communities across Montana become even better places for people of all ages by granting funds through our Community Challenge Grant Program. We fund small dollar, big impact projects for public parks & trails, transportation, safe streets, housing and more. We also connect Montanans with information and resources as well as help people connect with others who share their interests and passions – like music! As a main sponsor of the Helena Symphony’s Masterworks Series, we’re proud to help bring quality concerts to the community. 

By fighting on issues that matter most to Montana families and providing trusted information, we’re helping to empower Montanans to choose how they live as they age. As a nonpartisan organization, AARP does not endorse candidates for public office or make contributions to candidates, campaigns, or political action committees. Visit us at aarp.org/MT or follow @AARPMontana on social media.

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