2012-04-20 / Health & Medical

Working Caregivers and Employer Health Care Costs

If you or a loved one find yourself in any of the following situations, give Mary Keefe, Senior Care Specialist a call today. Do it for yourself and your loved ones.

Working Caregivers and Employer Health Care Costs

1. Nearly 60% of male caregivers work full time, as do 41% of female caregivers. Overall, 64% of caregivers are employed full time.

2. 1 in 3 US Employees are caring for an adult family member.

3. 66% of these family caregivers report having to make some adjustments to their work life, such as reporting late, leaving early, or taking time off during the day due to care giving responsibilities.

4. Caregiving impacts work via absenteeism, tardiness and leaving early, and employee stress and distraction while at work. It also affects the company’s bottom line in health care costs due to the poor health of employees related to the medical effects of caregiver stress and physical demands of care giving.

5. Employees who act as primary caregivers of an aging parent cost employers an average of $3,500 per employee per year.

6. $33.6 billion is the estimated annual loss of productivity in the workforce due to elder care responsibilities.

7. There is an 8% differential in increased health care costs between caregiving and non-caregiving employees, potentially costing employers an extra estimated $13.4 billion per year.

8. Caregivers lose between 5 and 12 days of work per year.

9. Nearly 1 out of 5 caregivers quit their jobs, take a leave of absence, or retire early to care for their loved ones.

10. According to a report by HR consultants Ceridian, an aging population will create the first generation of employees expected to spend more years responsible for the care of aging parents than for their own children.

11. 1 in 8 baby boomers are simultaneously caring for a child and an aging parent. They are part of the growing “sandwich generation,” those who are squeezed between responsibilities for young children and the elderly.

12. 1 in 4 US employees are in this sandwich generation.

13. The average caregiver is 49 years old and the average care recipient is 77 years old. The average duration of care provided is 4.6 years.

14. An estimated 7-10 million adult children are caring for their parents from a long distance.

Sources: The National Alliance for Caregiving, AARP; University of Pittsburgh Institute on Aging, “Working Caregivers and Employer Health Care Costs” published 2010; Genworth 2009 Survey; Metlife 2008 survey.

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