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Presentation to Fidelity Women's Networking Group: Home Healthcare and Caring for Aging Parents
1. Introduction
The "Sandwich Generation" is dealing with one of the
most elaborate juggling acts – caring for an elderly
parent, parenting their own children while working a
full time job. Nearly 66 million Americans are care
givers and the average care giver is 49 year old woman
who not only holds down a job but also spends about
19 hours a week providing care to a loved one.
2. The Sandwich Generation
• More than 65 million Americans provide care to a disabled or aged friend
or family member.
• The vast majority of caregivers – nearly 90% - are family members.
• 30% of caregivers care for more than one person.
• The average duration of caregiving is more than 4 years.
• The proportion of adult children providing personal care and/or financial
assistance to a parent has more than tripled over the past 15 years.
• The total estimated aggregate lost wages, pension, and Social Security
benefits of these caregivers of parents is nearly $3 trillion.
• In total, the cost impact of caregiving on the individual female caregiver in
terms of lost wages and Social Security benefits equals $324,044.
• 37% of caregivers had to reduce their work hours or quit their jobs to
handle their care responsibilities.
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3. Eldercare Options
• Adult day care
• Assisted living
Independent Living
Memory Support Units
• In-home care
• Skilled Nursing Facility (Nursing
Home)
4. Long-term care costs
Service
Monthly
Annually
24 x 7 Home Care
$18,720
$224,640
12 x 7 Home Care
$9,360
$112,320
8 x 7 Home Care
$6,420
$74,880
Assisted Living
$4,645
$55,740
Nursing Home/Rehab
$10,500
$126,000
Adult Day Care (8 x 5) $2,200
$26,400
Home care costs assume a nurse’s aide at $26 per hour. Adult day care assumes $100 per day including meals.
Assisted living and nursing home costs taken from averages of the MetLife Market Survey of Long Term Care Costs.
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5. A Geriatric Care Manager....
Is a health and human services specialist who helps
families who are caring for older relatives
Is trained and experienced in any of several fields
related to care management, including, nursing,
gerontology, social work, or psychology, with a
specialized focus on issues related to aging and elder
care
Is an experienced guide and resource for families of
older adults and others with chronic needs, including
helping those suffering from Alzheimer’s Disease or
Parkinson’s or exhibiting symptoms of dementia
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6. Caregiving from a distance?
Find out what they need. Before visiting, talk to them about what tasks you might
be able to assist with during your trip. Does he or she need to go shopping or is
there something at the house that needs to be fixed?
Schedule appointments. Accompany him or her on a doctor's appointment during
your visit. This will give you an opportunity to discuss their health, medications
and any other questions you might have. Take notes on the doctor's
recommendations. Ask the doctor to suggest any helpful community resources.
Consider making appointments with their lawyer and financial adviser, too.
Look for signs of problems. During your visit, check to see how well they are
managing daily tasks. Are they able to drive safely, eat regular meals, keep up with
personal grooming and pay their bills? Ask their friends and neighbors if they've
noticed any behavioral changes, health problems or safety issues.
Set aside quality time. Watch a movie , take him or her to visit friends or family.
Offer to play a game of cards. Simple activities can help you relax and enjoy your
time together.
7. Helpful Resources
AARP aarp.org/home-family/caregiving/
Genworth caregiving.genworth.com
Your local Council on Aging (MA), DEA (RI), or AAA (CT)
National Family Caregivers Association nfcacares.org
Family Caregiver Alliance caregiver.org
Mindingyourelders.com
Agingcare.com
Caring.com
Ourparents.com
Children of Aging Parents (CAPS)
National Institute on Aging
National Alliance for Caregiving caregiving.org
National Aging in Place Council
Alzheimer’s Association ****24/7 Helpline: 1.800.272.3900****
Mayo Clinic mayoclinic.com/health/caregivers/