A steep rise in people caring for elderly parents is taking a toll on the health and finances of many Baby Boomers, The Wall Street Journal reported.

A new study says older caregivers who work and provide care to a parent at the same time are more likely than other workers in their age group to report poor health.

The financial toll on care providers who are age 50 or older averages $303,880 per person in lost wages, pensions and Social Security benefits over their lifetime, due to leaving the work force early to care for a parent, according to the University of Michigan study. The study’s sample contained 1,112 people age 50 and over with at least one living parent.

The cost is higher for women, who average $324,044 in lost wages, pension benefits and Social Security benefits over their lifetime.

The percentage of adult children taking care of their parents has tripled since 1994, with nearly 10 million people who are age 50 or older doing so in 2008, the study said.