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STORIES ON HEALTH
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Juggling Work & Family
Responsibilities:
Can Long Term
Care Insurance Help?
By Kathleen
Bauer, President of
The Bauer Agency
Specializing in Long Term Care Insurance
The #1 health care crisis facing American
families today is long term care. The cost of this care averages
nationally $50,000 a year. As the baby boomers age they will more
likely find themselves in a role that they never anticipated. Being
caregivers for their elder parents. A national survey of family
caregivers found that nearly one in four families in the United
States are providing care for someone over age 50.
Here are some important statistics:
1. The average age of a caregiver is 46,
and 72% are women
2. 41% are "sandwiched," caring for a
child under age 18 and an elder at the same time.
3. The average duration of care giving is
4.5 years.
JUGGLING WORK AND FAMILY
Working caregivers lose an average of
$659,000 over a lifetime in lost wages, social security, and
pensions. Caregivers are not the only ones that are effected.
Employers in the U.S. lose an estimated $11.5 billion to $29 billion
per year due to the loss of productivity of their care giving
employees.
HOW CAN LONG TERM CARE INSURANCE HELP
FAMILIES?
"Long Term Care Insurance does indeed make a
difference," says Ms. Bauer for these reasons:
- Caregivers are more likely to remain in
the workforce.
- Caregivers have fewer job disruptions and
time off without pay.
- Caregivers have less social stress.
- Caregivers have more quality time and
less hands on assistance.
- There is no negative effects on quality
of care.
In conclusion, Long Term Care Insurance can
effectively make a difference in the lifestyles of caregivers.
Ms. Bauer can be reached at
702-656-4352 or you can send email to:
kathleenbauer@msn.com
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