Family caregivers' out-of-pocket costs have soared over the past five years, a new AARP study finds, CBS News and NPR report.

Caregivers now spend an average of $11,508 a year to help a loved one, NPR reports. That is up about 60 percent from 2021. NPR reports that is more than twice the overall inflation rate of 24 percent over the same period. On average, the costs take up 31 percent of a caregiver's income.

For households earning less than $40,000 a year, caregiving costs eat up more than three-quarters of income, CBS News reports. AARP surveyed more than 2,500 caregivers in June and July.

Housing and household costs, such as rent and food, are the largest expense, at nearly $4,800 a year, CBS News reports. Health care is second. Other costs include nursing homes, medical supplies and drugs.

"The more care that's needed, the more it costs," said Megan O'Reilly of AARP. Caregivers are taking on more complex medical tasks at home, she said.

Costs are only part of the strain. Many caregivers cut work hours or leave their jobs, NPR reports. About half say they made major money sacrifices, such as cutting savings.

Wendy Mayo, 44, of Connecticut, spends about $15,000 a year caring for her mother, who has Alzheimer's disease, CBS News reports. "It's a role you're thrust into. It's not like retirement, which we plan for," she said. She has cut back on saving for her own retirement.

Meghan Maher left her job in cancer research to care for her mother, NPR reports. Her family's income fell by half.

What we know: Caregivers now spend about $11,500 a year on average, up about 60 percent since 2021.
What we don't: Whether new policies will ease the costs for caregivers.