Thursday, July 26th, 2012
There are a lot of great chronicles of life with a special needs kid (case in point: our blogger, Ellen Seidman, who writes about her awesome son on To the Max). The scenario is definitely familiar to lots of readers—more than 20 million American families have at least one member with special needs, and 1 in 88 kids has been diagnosed with an autism spectrum disorder, according to the Centers for Disease Control. But you don’t often hear about the financial side of the story. It can cost a bundle to raise a kid: according to a report from the U.S. Department of Agriculture, parents will spend more than $235,000 on children born today—and that doesn’t include college tuition. Though this figure might seem staggering, the estimated cost of raising a kid with special needs is much higher: as much as $3.2 million. Early identification can connect kids with resources that they need to lead happy, healthy lives, but the cost of caregivers, therapies, and treatments can add up quickly.
Massachusetts Mutual Life Insurance Company (MassMutual) has launched a new Facebook campaign to raise awareness about the financial challenges faced by parents of special-needs kids. For each “like” the video receives, MassMutual will donate $5 to the Easter Seals’ Make the First Five Count® program, which promotes early identification of disabilities and developmental delays. Visit the MassMutual Facebook app to get involved.
Image: House of coins via Shutterstock