Next Friend Risk

This is a new concept for me – “Next Friend Risk.” What is it? The assumed “burden” on friends and family – financial, emotional, time, and more – to participate in the care and support of a consumer in need of long-term care. Allison Hoffman, in her Health Affairs Blog, Risk And Reform Of Long-Term Care, reviews the factors that have increased “next friend risk” and the estimate of the burden:

…the average informal caregiver faces losses—forgone income, pensions, benefits, and retirement savings, including Social Security—between $200,000 and $300,000. Considering that the median household net worth in . . .