concerns of the sandwich generation
Post on 28-Nov-2014
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“The Sandwich Generation is costing U.S. Businesses $17.1 Billion to $33.6 Billion per year in productivity for caregivers who take time from their work responsibilities to provide care”
Source: The Hidden Cost of Caregiving, Metlife Mature Market Institute, August 2006:
Definition:
Represents those who care not only for their own children but also act in a caregiver role for their own parent(s).
The Sandwich Generation
Source: www.people.vcu.edu/~swharkin/swhpages/glossary.htm
“One out of every eight Americans, ages 40 to 60, is raising a child and caring for a parent at home. On top of that, seven to 10 million Americans are caring for their aging parents from a long distance away.”
Source: http://pewresearch.org/assets/social/pdf/release120805.pdf
Who is “The Sandwich Generation”?
“It is estimated that American families provide 80 to 90 percent of all in-home long term care services for their aging family members, disabled adult children and other loved ones.”
Source: http://www.caregiver.com/channels/rural/articles/sandwich_generation.htm
The Sandwich Generation …
Is estimated to be 22% of the American population.
Is generally between the ages of 40 and 60.
Is a significant part of the workforce.
Are generally family members.
Is nearly one-third male.
Decline in financial markets
Concerns of The Sandwich Generation
Increase in cost of care
Outliving their finances
Lifespan: late 80’s and 90’s
The Normal Aging Process
• Vision • Hearing • Reaction time • Metabolism • Taste buds • Reflexes • Memory
• Cardio-Vascular • Diabetes • Parkinson’s • Dementia • Alzheimer’s • Cancer
• Falls and bone fractures
At age 70, onset of…
At age 65, risk of…
Loss or decrease in …
With doctors
Home Care
Other geriatric professionals
Illnesses or hospitalization
Other emergencies
Financial Assistance
Hands on care
Transportation
Banking
Household
Daily living… Coordinating & Managing…
What does this mean in the terms of care giving?
Scenario #1 – Beatrice is self-sufficient
• Beatrice drives to her Mahjong game every day.
• One day, Beatrice gets into a car accident.
• Beatrice is hospitalized in critical care.
Services EAP can offer
Identify Geriatric Care Management companies
• Crisis Intervention • Advocacy/Retention
What does Bob do now?
Scenario #2 – Beatrice has serious health issues
• Beatrice has been in the hospital for the past four months.
• Prior to that, she was in and out of the hospital with various illnesses.
• Bob flies to Florida to see Mom.
Services EAP can offer
Identify Surrogate Family Member services • Provide assessment of medical situation • Oversee proper care • Provide necessary communication • Advocacy/Retention
What does Bob do now?
Scenario #3 – Beatrice lives on her own, but is beginning to make
poor decisions.
• Beatrice is beginning to be forgetful, has more medical issues, and is no longer as self-sufficient.
Services EAP can offer
Identify Geriatric Care Management companies • Meet with Beatrice and identify issues • Communicate with family • Become Surrogate Family Member • Address issues on families behalf • Refer to Eldercare Professional • Advocacy/Retention
What does Bob do now?
The annual cost of employees with elder care responsibilities to U.S. business according to
MetLife Mature Market Institute are:
$33.6B
Absenteeism due to caring responsibilities
Routine distractions & other loss of productivity costs
Hiring and training new staff
Dealing with crisis during work day
Examples of Services EAP can Provide
• Referral list of network providers
Home Health Care companies
Geriatric Care Companies
Geriatric Care Managers
Local Agencies
Other Specific Organizations
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