Jon S. Corzine: “economically distressed caregivers are those who have incurred substantial medical debt on behalf of dependent or…”

“economically distressed caregivers are those who have incurred substantial medical debt on behalf of dependent or nondependent family members. This is the easy thing, taking care of mom and dad. It is a normal value concept in America that people look after their seniors. Sometimes that comes at an enormous cost to those families' ability to maintain their employment status or reduced hours or wage levels. Many people have to go on the unemployment rolls. There are an estimated 44 to 50 million family caregivers in our country, a large number. Nobody really knows the number. These Americans spend anywhere from a few hours a week to 40 hours a week or more taking care of a loved one, sick or disabled. These individuals provide an enormous service to our society because the costs they take up are not borne by the broader society through Medicaid or other areas, and they provide an enormous benefit to their families. The economic estimate of this value is over $257 billion annually. According to the National Family Caregivers Association, in my home State, there are 830,000 or so family caregivers. So New Jersey has 830,000 of these people in a population of about 8.5 million. Almost 10 percent of the population is involved with family caregiving. The estimated value is just shy of $8 billion. That unpaid care comes with a real cost.”