How Long Term Care affects Women
Long-term care is an issue directly
concerning many women-and therefore directly affecting their employers. More than 75% of unpaid care-givers in the U.S. are women. In addition, women represent 75% of residents in
assisted living communities and 80% of Nursing home residents. This makes it clear that the need for extended care affects women greatly.
It has
been said that long-term care needs hit women twice; first in providing care to
parents or other loved ones, and then later in life when women need long term
care for themselves. Informal care-giving responsibilities fall more heavily on
women, many of whom are older women with health problems of their own.
Care-giving responsibilities come with economic costs. Among working caregivers
who had to make a work adjustment due to care-giving responsibilities, one study
estimates an average of $659,000 in lost wages, lost social security, and
pension contributions over a lifetime.
However, the cost is not solely economic. 44% of female caregivers
report high levels of physical strain and emotional stress as a result of
care-giving.
It is important for women to plan for changes in their health over time, not only as a care-taker but in the event that their health changes and they need assistance to take care of themselves. For more information about the options available to plan for this coverage, contact Lucy Grosz at 614-88-0934.
