Beyond Health Insurance in Virginia: New Employee Benefit Growing to Fill Eldercare Need

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America is graying. 13% percent of the American population is age 65 or over and an astounding 19% of Americans over the age of 18 are caring for someone over age 50 at home, according to the National Alliance for Caregiving.

The impact of working caregivers on employers is becoming more dramatic every year. The MetLife Mature Market Institute & National Alliance for Care Giving survey from 2006 estimated the cost to employers of eldercare as $33.6 billion or $2110 per full-time employed caregiver. The costs are specifically from absenteeism, replacing of employees, workday interruptions, unpaid leave, and care crisis work related absenteeism. (more…)

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