Creative Solutions for

Working CaregiversInformed Eldercare

Decisions, Inc.

www.eldercareatwork.com

1-800-375-0595 1-800-375-0595

bob@elderlifeplanning.combob@elderlifeplanning.com

A “Good News, Bad News” Story: A “Good News, Bad News” Story: MMen and women are living much en and women are living much

longerlonger

Fastest growing segment of our population -people over 85

At age 65, people can now expect to live 16-19 years longer

* Today there are 34 million seniors, by 2030 there will be 70 million

The Problem: The Problem: They are more likely They are more likely to to face severe face severe

disabilitiesdisabilities

Over half of the senior population report having at least 1 disability

One third of the senior population have a SEVERE disability

Half of all Americans are expected to need long term care during their life time

The Problem: Millions of elderly with The Problem: Millions of elderly with difficult choicesdifficult choices

* Preferred nursing homes waiting list 6 to 24 months

* Millions of Americans live a great distance away from those needing care and are unfamiliar with regional resources

* There is a severe shortage of adult, non-geriatric beds

* Over the next 50 years, individuals available for employment as caregivers will decrease by nearly two-thirds

The Problem: Most people have no The Problem: Most people have no Fragmented “system” idea where to startFragmented “system” idea where to start

* 70 % flunked a quiz about the facts of long term care

* Nearly half of survey respondents have done little or no long term care planning

* Service providers operate in a highly fragmented market

* There is a complex web of laws, legal documents and tax regulations that govern the provision of care

Traditional Response: Traditional Response: Most elder care is provided Most elder care is provided

by family members by family members

* There are 25 million caregivers in the US

* Over 60% of these caregivers have been providing care for OVER 5 years

* More than 80% of care giving is done at home

* 47% of caregivers are employed

Individual ImpactIndividual Impact TIMETIME

*61% of caregivers spend 40 hours or MORE each week providing care

* 7 million people provide care to someone aged 55 or older living at least 1 hour away

* Family caregivers are responsible for coordinating care including physician visits, transportation, monitoring medications, respite care workers etc.

Individual Impact:Individual Impact: COSTCOSTMore Americans worry about paying for long

term care than for retirement!

Neither Medicare or most other health insurance plans will pay for most long-term care costs

Yearly nursing home costs -$70,000 to 100,000

Caregivers spend $24 billion annually of their own money

The cost of long term care could TRIPLE in the next 20 years

Individual Impact:Individual Impact: STRESSSTRESSCaregivers say that their greatest

needs are emotional support

58% of caregivers show symptoms of clinical depression

About 34% of caregivers say that they get no help from family or friends

Nearly 1 in 5 caregivers quit their jobs

Employer Impact:Employer Impact:LOST PRODUCTIVITYLOST PRODUCTIVITY

The annual cost to employers for lost productivity resulting from elder care is

estimated at more than $30 billion

Caregiving is emotionally and physically draining and often impacts the quality of an

employees work

* By 2005, over 35% of workers will be MORE concerned about caring for a parent than a

child

Employer Impact:Employer Impact:LOSS OF COMPETITIVE EDGELOSS OF COMPETITIVE EDGE

Growth of workforce age groups next 20 years: Number of 40 to 60 year old Workers GROWS.

Number of 25 to 40 year old Workers DECLINES

Major HR Issue next 2 decades= RETENTIONEldercare WILL increase employee turnover

Employer Impact:Employer Impact:Increased health insurance costsIncreased health insurance costs

Caregiver’s health declines due to stress and exhaustion

58% of caregivers show symptoms of clinical depression

PersonalPersonal Confusion, stressConfusion, stress Options:Options: and a very long waitand a very long wait

Hope someone else will assume responsibility for the problem

Devote countless hours to learning about available options and hope you make the right choices

Wait a long time for your preferred choices to become available and in the interim accept full responsibility for care

* Accept options which were not your first or second choice

PersonalPersonal ProfessionalProfessionalSolution:Solution: care managementcare management

Comprehensive assessment of patient needs and care planning

Analysis of most appropriate service options available

On-going coordination of care provided and services received

Development of financial strategies for managing cost of care

More Solutions: More Solutions: SSuitable anduitable and timely placementtimely placement

Retirement housingHome careAssisted living Adult day health care A national network that enables

working caregivers to find services anywhere in the United States

Elder LifeElder LifePlanning:Planning: Financial ProtectionFinancial Protection

Develop financial strategy for managing costs

Applicability of third party sources

Suitability of financial alternatives including long term care insurance, reverse equity mortgages and other funding options.

Money management and professional bill paying services

Elder LifeElder LifePlanning:Planning: Peace of MindPeace of Mind

Professional care management includes needs assessment and service options. Provides a “Roadmap”

On-going coordination of care and services

Suitable and timely placement

Special consulting services including elder law, account billing etc.

Summary of ELPO BenefitsSummary of ELPO Benefits Responsive, customized solutions to the

problem of caring for elder or disabled extended family members anywhere in the United States

  Helps employees stay on the job. Reduces

absenteeism and “presenteeism”. Improves workforce productivity & retention

 Immediate assistance for caregivers

More ELPO BenefitsMore ELPO Benefits National network of nurses, social workers,

financial, legal and insurance specialists

 Comprehensive package of elder and disability services with significant cost savings

  Toll free number to consultation and referral

center available 7 days a week (Multi-lingual capacity) Unlimited access

Customized information kits, Timely follow-up consultation

Summary of ELPO BenefitsSummary of ELPO Benefits  High tech but user friendly, “Elder Answers”:

Continually updated, comprehensive web based information on thousands of facilities, providers, and other eldercare resources

Resources in every community: “All eldercare is local” Resource Specialists to guide caregivers through the

complex maze of legal, financial, eligibility: (Medicare/Medicaid/Veterans benefits, housing subsidies, public & non-profit funded community services)

Innovations in Eldercare Services Innovations in Eldercare Services

FIND OUT HOW YOUR SMALL BUSINESS OR NON-PROFIT CAN OFFER THIS COMPREHENSIVE NATIONWIDE PROGRAM IN THE COMMUNITIES YOU SERVE

Our “Elder Life Planning for Organizations” program can generate new revenue for non-profit agencies and small eldercare enterprises under your own brand.

Now you can offer a comprehensive eldercare program to employers, banks, membership associations and faith based communities in your market area, without the significant capital outlay that would be required to develop such a program from scratch.

If you’d like information on how to add this low cost caregiver

support program to your current portfolio of services call Bob O’Toole or Jim Ferry at 1-800-375-0595

Elder Life Elder Life PlanningPlanning

Creative Solutions for Working Caregivers Informed Decisions, Inc.

www.eldercareatwork.com