As our population continues to age, the percentage of working adults providing care for their parents or other aging loved ones continues to rise. While often viewed as a private issue, employers bear a real cost associated with working caregivers. The MetLife Mature Market Institute estimates that the total cost of working caregivers for employers is over $33 billion each year. The cost can be staggering for employers, especially professional service firms, when one factors in the lost individual and firm revenues from decreased billing of firm members consumed by caring for their parents.
What Can Employers Do?
For years, progressive employers have helped employees balance the needs of family and the workplace. However, most of these efforts have been dedicated to young family issues, such as providing on-site day care centers. As Baby Boomers age, responsive employers recognize that they will need to help employees with the next stage of life- when employees’ caregiving responsibilities shift from their children to their parents.
While many employers provide access to Employee Assistance Programs as part of their benefits package, it’s very difficult for EAPs to address the complex issue of eldercare. The information supplied by an EAP can always be helpful, but many working caregivers require more than just information. Often the best option involves employing the help of a geriatric care manager. Eldercare management services provide caregivers with one-on-one assistance, caregiver support, in depth advice and information, and insight into the health care system.
Workplace introduction and implementation is accomplished using a “turn-key” approach to minimize strain on busy Human Resource Departments. For example, My Health Care Manager provides all Employee Communications, Benefit Explanations, an HR Administrator’s Guide and, most importantly, a dedicated website tailored to the employer.
My Health Care Manager supports companies nationwide. Our services are available to all employees regardless of work location, as long as their parents reside in the United States.
Our services help working caregivers manage their roles as caregivers and balance their work and personal lives. The program is voluntary and self-paid by employees and requires no long-term service obligation. Employers with multiple offices may choose to introduce the benefit simultaneously or office by office. My Health Care Manager provides usage and quality feedback from the employees who take advantage of the program, but no personally identifiable information is provided in order to protect employee privacy.
For more information about the program features, please click here.
For more information about the Personalized Eldercare Program, please contact My Health Care Manager at 800-614-5457.
Transportation to health care providers’ offices and documentation of recommendations