American Association for Long-Term Care Insurance Exec Calls for Heightened Consumer Education
The need to provide unpaid care to loved ones is creating a huge financial and emotional toll on millions of Americans. The American Association for Long-Term Care Insurance director calls for increased consumer education.
Los Angeles, CA, July 20, 2011 --(PR.com)-- More than 40 million Americans currently care for an elderly or disabled loved one and the value of their work amounts to an estimated $450 billion a year according to Jesse Slome, executive director of the American Association for Long-Term Care Insurance, the industry trade group.
"Family members, but mainly women, providing caregiver services for free is good for society and taxpayers, but most are totally unprepared for the toll it takes," Slome explains. Speaking to a group of consumers, he noted that "Caregivers are the most under appreciated people in the country. Well beyond the financial sacrifice, the emotional toll can not be calculated."
"The burden on families is huge," Slome says. "While families step up to the plate and make this contribution to society, the cost to their own health and financial security is huge." He noted that caregivers often reduce work hours and lose hundreds of thousands of dollars in income over a lifetime. "They are also more prone to depression, physical ailments and social isolation."
According to Association summarized research, in 2009, about 42.1 million family caregivers in the U.S. provided care to an adult with limitations in daily activities at any given point in time, and about 61.6 million provided care at some time during the year.
"Caregiver burn out is common and it will only grow as the huge wave of baby boomers ages," Slome adds. "Boomers have fewer adult children available to provide free care and high divorce rates make it more likely that aging boomers will be living alone when care is needed."
The American Association for Long-Term Care Insurance called for increased consumer education. Slome noted that much of the effort should focus on women who face the greatest risk and impact. "This is a new issue facing Americans and widespread education regarding planning options is necessary," Slome states. "Without planning, millions will turn to already strapped government programs like Medicare and Medicaid and millions will face no other option but to place someone in a nursing home, which is what nobody wants."
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"Family members, but mainly women, providing caregiver services for free is good for society and taxpayers, but most are totally unprepared for the toll it takes," Slome explains. Speaking to a group of consumers, he noted that "Caregivers are the most under appreciated people in the country. Well beyond the financial sacrifice, the emotional toll can not be calculated."
"The burden on families is huge," Slome says. "While families step up to the plate and make this contribution to society, the cost to their own health and financial security is huge." He noted that caregivers often reduce work hours and lose hundreds of thousands of dollars in income over a lifetime. "They are also more prone to depression, physical ailments and social isolation."
According to Association summarized research, in 2009, about 42.1 million family caregivers in the U.S. provided care to an adult with limitations in daily activities at any given point in time, and about 61.6 million provided care at some time during the year.
"Caregiver burn out is common and it will only grow as the huge wave of baby boomers ages," Slome adds. "Boomers have fewer adult children available to provide free care and high divorce rates make it more likely that aging boomers will be living alone when care is needed."
The American Association for Long-Term Care Insurance called for increased consumer education. Slome noted that much of the effort should focus on women who face the greatest risk and impact. "This is a new issue facing Americans and widespread education regarding planning options is necessary," Slome states. "Without planning, millions will turn to already strapped government programs like Medicare and Medicaid and millions will face no other option but to place someone in a nursing home, which is what nobody wants."
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Contact
American Association for Long-Term Care Insurance
Jesse Slome
818-597-3205
www.aaltci.org
Jesse Slome
818-597-3205
www.aaltci.org
Contact
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