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Providing Support To Employers And Working Caregivers 6 14 2010 2

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Our “Elder Life Planning for Organizations” program allows non-profit and small eldercare enterprises …

Our “Elder Life Planning for Organizations” program allows non-profit and small eldercare enterprises
to offer a comprehensive eldercare program to employers, banks, membership organizations and faith based communities without the significant capital outlay that would otherwise be required.

Published in: Business, Economy & Finance

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  • 1. Creative Solutions for Working Caregivers Informed Eldercare Decisions, Inc. www.eldercareatwork.com 1-800-375-0595 bob@elderlifeplanning.com
  • 2. A “Good News, Bad News” Story: M en and women are living much longer
    • Fastest growing segment of our population -people over 85
    • At age 65, people can now expect to live 16-19 years longer
    • * Today there are 34 million seniors, by 2030 there will be 70 million
  • 3. The Problem: They are more likely to face severe disabilities
    • Over half of the senior population report having at least 1 disability
    • One third of the senior population have a SEVERE disability
    • Half of all Americans are expected to need long term care during their life time
  • 4. The Problem: Millions of elderly with difficult choices
    • * Preferred nursing homes waiting list 6 to 24 months
    • * Millions of Americans live a great distance away from those needing care and are unfamiliar with regional resources
    • * There is a severe shortage of adult, non-geriatric beds
    • * Over the next 50 years, individuals available for employment as caregivers will decrease by nearly two-thirds
  • 5. The Problem: Most people have no Fragmented “system” idea where to start
    • * 70 % flunked a quiz about the facts of long term care
    • * Nearly half of survey respondents have done little or no long term care planning
    • * Service providers operate in a highly fragmented market
    • * There is a complex web of laws, legal documents and tax regulations that govern the provision of care
  • 6. Traditional Response: Most elder care is provided by family members
    • * There are 25 million caregivers in the US
    • * Over 60% of these caregivers have been providing care for OVER 5 years
    • * More than 80% of care giving is done at home
    • * 47% of caregivers are employed
  • 7. Individual Impact TIME
    • * 61% of caregivers spend 40 hours or MORE each week providing care
    • * 7 million people provide care to someone aged 55 or older living at least 1 hour away
    • * Family caregivers are responsible for coordinating care including physician visits, transportation, monitoring medications, respite care workers etc.
  • 8. Individual Impact: COST
    • More Americans worry about paying for long term care than for retirement!
    • Neither Medicare or most other health insurance plans will pay for most long-term care costs
    • Yearly nursing home costs -$70,000 to 100,000
    • Caregivers spend $24 billion annually of their own money
    • The cost of long term care could TRIPLE in the next 20 years
  • 9. Individual Impact: STRESS
    • Caregivers say that their greatest needs are emotional support
    • 58% of caregivers show symptoms of clinical depression
    • About 34% of caregivers say that they get no help from family or friends
    • Nearly 1 in 5 caregivers quit their jobs
  • 10. Employer Impact: LOST PRODUCTIVITY
    • The annual cost to employers for lost productivity resulting from elder care is estimated at more than $30 billion
    • Caregiving is emotionally and physically draining and often impacts the quality of an employees work
    • * By 2005, over 35% of workers will be MORE concerned about caring for a parent than a child
  • 11. Employer Impact: LOSS OF COMPETITIVE EDGE
    • Growth of workforce age groups next 20 years:
    • Number of 40 to 60 year old Workers GROWS.
    • Number of 25 to 40 year old Workers DECLINES
    • Major HR Issue next 2 decades= RETENTION
    • Eldercare WILL increase employee turnover
  • 12. Employer Impact: Increased health insurance costs
    • Caregiver’s health declines due to stress and exhaustion
    • 58% of caregivers show symptoms of clinical depression
  • 13. Personal Confusion, stress Options: and a very long wait
    • Hope someone else will assume responsibility for the problem
    • Devote countless hours to learning about available options and hope you make the right choices
    • Wait a long time for your preferred choices to become available and in the interim accept full responsibility for care
    • * Accept options which were not your first or second choice
  • 14. Personal Professional Solution: care management
    • Comprehensive assessment of patient needs and care planning
    • Analysis of most appropriate service options available
    • On-going coordination of care provided and services received
    • Development of financial strategies for managing cost of care
  • 15. More Solutions: S uitable and timely placement
    • Retirement housing
    • Home care
    • Assisted living
    • Adult day health care
    • A national network that enables working caregivers to find services anywhere in the United States
  • 16. Elder Life Planning: Financial Protection
    • Develop financial strategy for managing costs
    • Applicability of third party sources
    • Suitability of financial alternatives including long term care insurance, reverse equity mortgages and other funding options.
    • Money management and professional bill paying services
  • 17. Elder Life Planning: Peace of Mind
    • Professional care management includes needs assessment and service options. Provides a “Roadmap”
    • On-going coordination of care and services
    • Suitable and timely placement
    • Special consulting services including elder law, account billing etc.
  • 18. Summary of ELPO Benefits
    •    Responsive, customized solutions to the problem of caring for elder or disabled extended family members anywhere in the United States
    •  
    •    Helps employees stay on the job. Reduces absenteeism and “presenteeism”. Improves workforce productivity & retention
    •    Immediate assistance for caregivers
  • 19. More ELPO Benefits
    • National network of nurses, social workers, financial, legal and insurance specialists
    •   Comprehensive package of elder and disability services with significant cost savings
    •  
    • Toll free number to consultation and referral center available 7 days a week (Multi-lingual capacity) Unlimited access
    • Customized information kits, Timely follow-up consultation
  • 20. Summary of ELPO Benefits
    •   High tech but user friendly, “Elder Answers”: Continually updated, comprehensive web based information on thousands of facilities, providers, and other eldercare resources
    • Resources in every community: “All eldercare is local”
    • Resource Specialists to guide caregivers through the complex maze of legal, financial, eligibility: (Medicare/Medicaid/Veterans benefits, housing subsidies, public & non-profit funded community services)
  • 21. Innovations in Eldercare Services
    • FIND OUT HOW YOUR SMALL BUSINESS OR NON-PROFIT CAN OFFER THIS COMPREHENSIVE NATIONWIDE PROGRAM IN THE COMMUNITIES YOU SERVE
    • Our “Elder Life Planning for Organizations” program can generate new revenue for non-profit agencies and small eldercare enterprises under your own brand.
    • Now you can offer a comprehensive eldercare program to employers, banks, membership associations and faith based communities in your market area, without the significant capital outlay that would be required to develop such a program from scratch.
    • If you’d like information on how to add this low cost caregiver support program to your current portfolio of services call Bob O’Toole or Jim Ferry at 1-800-375-0595
  • 22. Elder Life Planning Creative Solutions for Working Caregivers Informed Decisions, Inc. www.eldercareatwork.com