An EAP can also assist in integrating elder care services into an existing program. Research the option of providing long-term care insurance to assist employees with the costs of services for family members with prolonged physical illness, disability or mental disorders. The time has come for businesses and employers to address the many challenges facing today s employee caregivers and to support their worthy contribution to our society. The value and reward of assisting employees to make the best quality caregiving choices for aging family members will dramatically affect the quality of life for our elders as well as benefit the productivity of business and industry. This is the first article in a two-part series on how families can prepare to meet the physical and financial needs of seniors.
Few families talk about senior care, let alone plan for it ahead of time.
Unlike buying a house, paying for college or even saving for retirement, senior care is a subject that leaves many families feeling anxious and uncomfortable. Yet people are concerned about how they are going to care for aging parents or relatives. In our latest annual retirement and financial planning survey, we found that Americans are increasingly concerned about their ability to care for aging parents. If you leave the planning of senior care until the last minute, when care is urgently needed, it is often too late to plan wisely. As a result, your medical and financial options may be severely limited.