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CA Department of Insurance

California's "sandwich generation" feeling increased financial pressure

News: 2014 Press Release

For Release: November 24, 2014
Media Calls Only: 916-492-3566
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California's "sandwich generation" feeling increased financial pressure
Urged to consider their insurance needs during National Family Caregivers Month

SACRAMENTO, Calif. - Millions of middle-aged Californians in the so-called "sandwich generation" are feeling the financial pressure of serving as primary caregivers for their aging parents, while also shouldering more of their adult children's financial responsibilities. To save money and ease concern, the California Department of Insurance (CDI) urges those who are financially supporting their adult children while also assisting their aging parents to understand their insurance needs. 

"Making informed insurance decisions can help alleviate the financial pressures felt by the sandwich generation," said Commissioner Jones. "Increasingly Californians are feeling the emotional and financial strain of caring for their adult children and aging parents. It is important to know your options and take steps to safeguard your assets to ensure your long-term financial well-being. The Department of Insurance is here to help."

To help consumers get educated about insurance needs for age 50 and beyond, CDI encourages consumers to access Get Ready Resources for Turning 50. The resource kit includes tips and tools, such as challenging questions to consider and a Take Action Now checklist of things to do to ensure unforeseen insurance needs do not get in the way of financial stability. For example:

  • Middle-aged parents should openly discuss post-college health insurance coverage with their adult children and determine who will foot the bill for co-pays and deductibles. If the adult child lives at home, parents should have the same conversation about auto insurance.
  • Caregivers should make sure their aging parents enroll in Medicare before they turn 65. If there are gaps in coverage, Medicare Supplement Insurance may help.
  • For some, depending on age and future income, purchasing an annuity may make sense as part of your long-term financial planning.

For more tips and tools to help navigate the complex insurance issues associated with life in the sandwich generation, visit

Media Notes:

The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $310 billion in premiums annually in California. Since 2011 the California Department of Insurance received more than 1,000,000 calls from consumers and helped recover over $469 million in claims and premiums. Please visit the Department of Insurance website at Non-media inquiries should be directed to the Consumer Hotline at 800.927.4357. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.

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