Your Employees Health at Risk from Eldercare

Written by Kevin K. Johnson, CSA

Did you know that if your employee is responsible for taking care of an elderly relative, it will likely impact that employees health and your bottom line. Employees in the U.S. who are caring for an older relative are more likely to report health problems like depression, diabetes, hypertension or heart disease, costing employers an estimated average additional health care cost of 8% per year, or $13.4 billion annually according to the MetLife Study of Working Caregivers and Employer Health Care Costs.

The report also found that younger caregivers (ages 18-39) cost their employers 11% more for health care than non-caregivers, while male caregivers cost an additional 18%. It also found that eldercare may be closely associated with high-risk behaviors like smoking and alcohol consumption.

Sandra Timmermann, Ed.D., director of MetLife mature market Institute says that “while this news may be distressing, our research points out that coordination of eldercare services and wellness initiatives may open new avenues of innovation to benefit both employees and employers”.

For companies throughout Cleveland and northeast Ohio, Caring Concierge has introduced an innovative approach that enables employers to address both sides of this serious issue.

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About Caring Concierge
Caring Concierge is a risk management company providing employers throughout northeast Ohio with solutions to address business productivity loss caused by employee lost time hours resulting from the crisis of adult caregiving. The Caring Concierge model provides these solutions at no cost to employers. One motivating issue that inspired the creation of Caring Concierge is the personal challenges I've faced juggling work and trying to manage eldercare issues associated with the care and well-being of my elder parents. My efforts in the eldercare issues also extend to volunteer service. I proudly serve as Chairman of the Board of Directors of Fairhill Partners (www.fairhilpartners.org), in Cleveland, OH., a non-profit organization focused on lifelong learning, intergenerational relationships, and successful aging. In addition to academic degrees in Mechanical Engineering (undergraduate) and Business Management (graduate), I have earned the professional designation of Certified Senior Advisor.

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