A funny thing has happened in the United State over the past 50 years, which on the surface is good, but for a growing segment of the population is adding an additional stress in their life. Due in a large part to vast improvements in medicines and treatment, the median life expectancy has been steadily increasing, adding about one half year of life expectancy to the population ever two years. So, in 1959 the median life expectancy was under 70, now, it is 83. At the same time, Americans on average have been holding offer getting married and starting a family well into the late twenties or early thirties. As a result, the generational gap between grandparents and grandkids has grown from 20 years to now 30.
Elder care services are becoming an ever-increasing need as baby boomers continue to retire at an alarming rate. Combining the fact that the elderly are living longer, and individuals are holding off having children until they are older, a new dilemma has developed for individuals between 38 and 55. Many of these adults are becoming part of the what is referred to the “sandwich” generation. This is where an adult has to not only take care of their children, but one, two, three or even four parents dispersed across the country which they are also taking care of.
Accounting to a 2013 Pew Research report, nearly half (47%) of adults in their 40s and 50s have a parent age 65 or older and are either raising a young child or financially supporting a grown child (age 18 or older). And about one-in-seven middle-aged adults (15%) are providing financial support to both an aging parent and a child. Combine the fact that most adults in America do not live within 100 miles of their aging parents, it becomes obvious that this trend is adding stress to when elderly parents get ill or need care.
As a fallout of this growing trend, when the parents of a working adult become ill or need assistance, presently that working adult child will need to leave and take extended time away from work to deal with the situation. The average time away is one week, and sometimes stretches into three weeks! In most cases, these individuals will likely have to continue to visit their aging parents for extended periods of time for the next 5 to 15 years.
The reason why individuals have to take time off, is that up until now, there was no “on-line” way to get reliable geriatric care. As stated earlier, most adult children do not reside close to their aging parents, and as such, have to schedule time to travel in order to arraign for care from a private duty agency, which includes interviewing the agencies, developing a care plan, and signing contracts.
Not only is there an impact on work, there is also a financial impact on these adults. According to a recent AARP study, 30 percent of family caregivers dip into their personal savings to cover long-term care costs, 16 percent reduce contributions to their retirement accounts, and about half cut back on leisure spending in order to help take care of their parents.
The tough reality is that many families are not rich enough to afford the staggering cost of private duty long-term care. Yet at the same time, they do not qualify for Medicaid, a health care program for low-income and disabled adults. So, it is nice to have a lower cost alternative to the high priced private duty agencies, that also delivers a superior service like Well Beyond Care.
About Well Beyond Care
Well Beyond Care is the only company that teaches families and individuals how to find and manage affordable non-medical in-home care, while solving the chronic problems of caregiver truancy and turnover through the web application, WellBeyondCare.com. The Company’s platform combines the power of the internet with the personal touch of nurses to offer families a pathway to transitional care, allowing our elderly parents to safely age-in-place. Their solution lowers stress in hiring a caregiver and saves families tens of thousands of dollars per year in care costs.