Perrine Monnet

The caring economy includes the people and systems that provide care across all stages of life. This workforce is broad and often under-recognized, but it plays a critical role in keeping families, communities, and the overall economy strong.

Data gaps significantly limit our understanding of economic security for all older adults, including our understanding of this demographic’s financial realities and our ability to create policies that meet their diverse needs.

Too many Coloradans struggle to attain economic security. If left unaddressed, Colorado’s policy decisions will continue to perpetuate wealth inequality and hinder a more fair and prosperous state.

Current public funding levels fall significantly short in adequately supporting caregivers of older adults in Colorado. Investing in both paid and unpaid care will support older adults in need of care and support those who dedicate themselves to caregiving, creating a more sustainable and effective care ecosystem.

The Bell has developed a Home Care Cost Model for older adults, an important tool for researchers, advocates, and decision makers, as they strive to understand the implications of policy choices on the care economy, its workers, and the older Coloradans who rely upon it.

Colorado is one of the fastest aging states, and 70 percent of older adults will need some form of direct care to help with activities of daily living. What this means is that direct care for older adults will become ever more important.

Care workers in Colorado are underpaid, which has led to high turnover. HB24-1312 provides them with a refundable tax credit of $1,200.

Financial empowerment among caregivers is a critical issue that determines the well-being of informal caregivers in Colorado who provide care across the lifespan to the young and older Coloradans.

Colorado’s Direct Care Workforce Stabilization Board works to make recommendations to lawmakers on employment standards and market conditions.