A national consortium of elder care and elder life planning professionals, including nurses and social workers along with insurance, accounting, and elder law specialists have been working to develop an effective, affordable solution to the complex needs of working caregivers; many of whom work for employers who are caught in the dilemma of recognizing the need for such a benefit, while faced with severely strained benefits budgets.

The Wall Street Journal reported that some companies are adding such benefits even as they cut back in other areas, especially health-care coverage, where costs are soaring. But certain workplace benefits that are considered cost effective, such as assisting with family issues and helping employees stay healthy, are gaining increased attention.
 
"It does reduce absenteeism. And people appreciate working for an employer who has made the investment in employee services," says Marty Martin, vice-president of employee benefits at McGraw-Hill.
 

Nationally, working caregivers cost businesses as much as $34 billion a year because of absenteeism, hiring replacement workers and other lost productivity, according to a recent survey by the National Alliance for Caregiving, a nonprofit coalition, and the MetLife Foundation. This amounts to an average $2,110 for each of the estimated 15.9 million caregivers working full time, the survey said. And those figures are expected to rise

: By 2020, one in three U.S. households is expected to be involved in caring for elderly or disabled relatives, up from one in four today, the survey said.
 
Smaller families flung over larger distances are making it harder to care for ill and aging relatives these days. Although the federal Family and Medical Leave Act guarantees most U.S. workers up to 12 weeks time off a year, this unpaid leave isn't an option that many families can afford. Employers often lose out because a large percentage of caregivers never return to the job.
 
Using a network of local independent nurses, social workers, financial, legal and insurance specialists a comprehensive package of elder and disability services can be offered by employers, trade unions or associations at an affordable cost that can often be less than a dollar per month per employee.

Known as "Elder Life Planning for Organizations," this service offers a full range of sophisticated information and referrals, toll-free telephone consultations with a professional counselor, referrals to insurance, eyecare, geriatric care services advice on paying for long-term care, durable medical equipment and elder legal services.  Using a nationwide preferred provider network gives us the capacity to provide a "one-stop shopping" benefit without requiring the "one size fits all" approach common to some of the more corporate work life companies.

Informed Eldercare Decisions, Inc., the company that manages Elder Life Planning for Organizations, has a free information kit for employers or other organizations who want to help their employees  or members to ease the stress that family caregivers often face.

To get more information about the Elder Life Planning for Organizations program, contact Bob O'Toole at 1-800-375-0595 or visit us online at www.EldercareAtWork.com