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What are the estimated economic impacts on primary caregivers?

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What are the estimated economic impacts on primary caregivers?

The direct economic effect resulting from caregiving is estimated at nearly $44 billion through the loss of 656,000 jobs and an additional 791,000 caregivers suffering from absenteeism issues at work.

The economic impacts on primary caregivers can be significant and multifaceted. These impacts can vary depending on factors such as the caregiver’s personal financial situation, the level of care required by the recipient, the availability of support systems, and the caregiver’s ability to balance caregiving responsibilities with employment. Here are some of the estimated economic impacts on primary caregivers:

  • Lost Income: Many primary caregivers are forced to reduce their work hours or leave their jobs altogether to provide care. This results in a direct loss of income, including wages, salary, and potential career advancement opportunities. Over time, this can lead to reduced lifetime earnings and a diminished retirement fund.
  • Increased Expenses: Caregivers often incur additional expenses related to caregiving, such as medical co-pays, transportation costs for medical appointments, home modifications, and the purchase of medical supplies or equipment. These expenses can add up and strain the caregiver’s budget.
  • Opportunity Costs: Caregivers may miss out on career opportunities, including promotions, raises, and job-related training, as they prioritize their caregiving responsibilities. This can have long-term implications for their earning potential and job security.
  • Reduced Retirement Savings: Caregivers who have to leave the workforce or reduce their working hours may struggle to contribute to retirement savings accounts like 401(k)s or IRAs. This can lead to inadequate retirement funds and financial insecurity in old age.
  • Healthcare Costs: Caregivers often neglect their own health due to the demands of caregiving, which can result in higher healthcare expenses in the long run. Delayed or neglected medical check-ups and treatments may lead to more serious health conditions.
  • Mental and Physical Health Costs: The emotional and physical toll of caregiving can have its own economic impact. Caregivers may require therapy or medical treatment for stress-related conditions, which can incur additional costs.
  • Social Security Benefits: Reduced income and fewer working years can affect a caregiver’s Social Security benefits. Their retirement and survivor benefits may be lower than they would have been if they had continued working without interruption.
  • Impact on Other Family Members: Caregiving responsibilities can strain the finances of other family members, particularly if they need to step in to provide financial support or assistance with caregiving duties.
  • Dependency on Government Assistance: Some caregivers may eventually become dependent on government assistance programs due to their financial challenges. This places an additional burden on public resources.
  • Reduced Wealth Accumulation: The economic impacts of caregiving can reduce a caregiver’s ability to accumulate wealth, save for major life expenses (e.g., education for children), or invest in their own personal development.

It’s important to note that the economic impacts on primary caregivers can vary widely based on individual circumstances, and not all caregivers will experience all of these consequences. Additionally, the economic toll of caregiving can often be underestimated or overlooked, highlighting the need for better support systems, policies, and resources to assist caregivers in managing their financial well-being while fulfilling their caregiving duties.

For more information on this topic, please visit Blue Cross Blue Shield:  https://www.bcbs.com/the-health-of-america/reports/the-economic-impact-of-caregiving#

The key to the future in an aging society is not found in increasing just our life span; we need to increase our health span at the same time.
- Chuck Norris

Genetic factor fends off Alzheimer’s and Parkinson’s

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Genetic factor fends off Alzheimer's and Parkinson's

Source: Stanford Medicine

About one in every five people carries a version of a gene that, although largely unsung, appears to confer protection against both Alzheimer’s disease and Parkinson’s disease, Stanford Medicine investigators and their colleagues have learned. These lucky people may someday benefit all the more from a vaccine that could slow or stall the progression of these two most common neurodegenerative conditions.

 

An analysis of medical and genetic data from hundreds of thousands of people of diverse ancestries from several continents has revealed that carrying this gene version, or allele, reduced people’s chances of contracting either Parkinson’s or Alzheimer’s by more than 10% on average.

 

The evidence suggest that a protein called tau, which is notorious for aggregating in the brains of Alzheimer’s patients, may also be involved, in some mysterious way, in the development of Parkinson’s disease.

 

The findings and implications are described in a paper published online Aug. 29 in the Proceedings of the National Academy of Sciences. Emmanuel Mignot, MD, PhD, the Craig Reynolds Professor in Sleep Medicine and a professor of psychiatry and behavioral sciences, shares senior authorship with Michael Greicius, MD, the Iqbal Farrukh and Asad Jamal Professor and a professor of neurology and neurological sciences, and Jean-Charles Lambert, PhD, director of research for Inserm at the University of Lille in France. Lead authors are Yann Le Guen, PhD, assistant director of computational biology in Stanford Medicine’s quantitative sciences unit; Guo Luo, PhD, an instructor of sleep medicine; former postdoctoral scholar Aditya Ambati, PhD; and Vincent Damotte, PhD, a bioinformatician associated with Lambert’s group.

 

The protective allele identified in the study is called DR4.

 

“In an earlier study we’d found that carrying the DR4 allele seemed to protect against Parkinson’s disease,” Mignot said. “Now, we’ve found a similar impact of DR4 on Alzheimer’s disease.”

 

The Stanford Medicine team combined dozens of medical and genetic databases collected from numerous countries — in Europe, East Asia, the Middle East, and South and North America. All told, the databases included more than 100,000 people with Alzheimer’s disease and more than 40,000 with Parkinson’s disease. The scientists contrasted the incidence and age of onset of Alzheimer’s and Parkinson’s among people with DR4 versus those without it and found a roughly 10% risk reduction in those carrying DR4. Read more…

"Age is just a number. Life and aging are the greatest gifts that we could possibly ever have."
- Cicely Tyson

Embracing the Future of Aging in Place with eLivelihood

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Embracing the Future of Aging in Place with eLivelihood

As we journey through life, one thing remains constant: the desire to age gracefully and comfortably in our own homes. Aging in place, the concept of growing old in the familiar surroundings of our residences, is a cherished dream for many. Fortunately, technological advancements have made this dream more achievable than ever. In this newsletter article, we’ll explore how eLivelihood, a pioneering platform, is empowering seniors to age in place with confidence and independence.

The Rise of Aging in Place

Aging in place is a growing trend, and it’s easy to understand why. The emotional attachment we have to our homes, combined with the desire for autonomy and familiarity, makes it a preferred choice for many seniors. Moreover, the COVID-19 pandemic has highlighted the importance of home-based care and support, as it often provides a safer and more secure environment for older adults.

The eLivelihood Difference

eLivelihood is at the forefront of transforming the aging in place experience. This innovative platform is designed to meet the unique needs of families who find themselves in caregiving situations for seniors, offering a range of services and features that enhance the quality of life and overall well-being, for both parties. In short, we foster community by creating accountability and transparency.

Family Connectivity

eLivelihood understands the importance of family involvement in the aging process. The platform offers features that allow family members to stay informed and engaged in their loved one’s care. eLivelihood teams can include family members (including grandchildren), friends, neighbors – anyone that was part of your Senior’s life.  Each team member can have different permissions from “admin” to “media-only” contributors. This peace of mind is invaluable for both seniors and their families.

Social Engagement:  The ”eLivelihood – Recipient” tablet app

Isolation can be a major concern for seniors, leading to feelings of loneliness and depression. eLivelihood has a free companion tablet application (iOS/Android) specifically designed for Seniors who aren’t technically inclined and typically do not have smartphones. We foster social connections by offering the opportunity to create large teams and chat rooms with “one, some or all” messaging options. Seniors can interact with family, friends, and neighbors – anyone you want to add to the Senior’s “eLivelihood team”.

Another way eLivelihood combats the negative effects of isolation is picture and video sharing. Team members can upload pictures and videos directly from the eLivelihood web or phone app to the Senior’s tablet app; which can also become a randomized picture viewer.

Home Assistance

Maintaining a safe and comfortable home is paramount for aging in place. eLivelihood can assign tasks to team members and 3rd party caregivers such as caregiving, home maintenance, cleaning, picking up prescriptions and even grocery shopping. This support ensures that seniors can continue to enjoy their homes without the stress of leaving. Team members (likely immediate family members) can view the ‘time-spent’ and share the cost of the 3rd party services directly from their eLivelihood account(s).

Personalized Care Plans

Each senior has unique needs and preferences. eLivelihood recognizes this and provides personalized care plans that are tailored to individual requirements. We can assist whether it’s medications, contacts, assessments of daily living, medical monitoring or passwords, the platform adapts to the user’s specific health and lifestyle needs.

Aging in place is a dream many seniors hold dear, and eLivelihood is turning that dream into a reality. By leveraging technology, personalized care, and social connections, eLivelihood empowers seniors to live their best lives in the comfort of their homes. As we continue to embrace the future of aging in place, eLivelihood serves as a beacon of hope and support for older adults and their families. Together, we can ensure that aging is a journey filled with independence, dignity, and fulfillment.

"The most important thing I can tell you about aging is this: If you really feel that you want to have an off-the-shoulder blouse and some big beads and thong sandals and a dirndl skirt and a magnolia in your hair, do it. Even if you're wrinkled."
- Maya Angelou

Ways to alleviate a caregiver’s burden

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Ways to alleviate a caregiver's burden

Caring for a loved one can be rewarding, but it can also be physically, emotionally, and mentally demanding. Caregiver burden is a common issue, and it’s essential to find ways to alleviate it to ensure the well-being of both the caregiver and the person receiving care.

Here are some strategies to help reduce caregiver burden:

  1. Seek Support:

    – Join a support group for caregivers to connect with others facing similar challenges. Sharing experiences and advice can be therapeutic. – Talk to friends and family members about your caregiving responsibilities, and ask for their support when needed.

  2. Respite Care:

    – Arrange for respite care to give yourself short breaks or extended vacations from caregiving. This allows you to recharge and prevent burnout.

  3. Professional Help:

    – Consider hiring professional caregivers, nurses, or aides to assist with some caregiving tasks, such as bathing, dressing, or administering medication.

  4. Time Management:

    – Create a caregiving schedule and stick to it. Set boundaries to ensure you have time for your own needs and activities.

  5. Self-Care:

    – Prioritize self-care, including regular exercise, a healthy diet, and adequate sleep. Caregivers need to be physically and mentally well to provide effective care.

  6. Seek Financial Assistance:

    – Look into financial assistance programs and benefits available for caregivers, such as Medicaid, Medicare, or veterans’ benefits, if applicable.

  7. Technology and Home Modifications:

    – Use technology like home monitoring systems and medical alert devices to help with caregiving tasks and ensure the safety of your loved one. – Make necessary home modifications to improve accessibility and reduce the physical strain of caregiving.

  8. Delegate Tasks:

    – Don’t try to do everything on your own. Delegate tasks to other family members or friends who are willing to help.

  9. Counseling and Therapy:

    – Consider seeking therapy or counseling to help you cope with the emotional and psychological challenges of caregiving.

  10. Legal and Financial Planning:

    – Consult with an attorney to create a power of attorney, will, or advance care directives to ensure you have legal authority to make decisions for your loved one. – Get organized with financial planning to manage your loved one’s finances efficiently.

  11. Set Realistic Expectations:

    – Recognize your limitations and set realistic expectations for yourself as a caregiver. It’s okay to ask for help when needed.

  12. Stay Informed:

    – Learn as much as you can about your loved one’s medical condition or needs. Knowledge empowers you to make informed decisions and provide better care.

  13. Resilience Building:

    – Develop resilience by practicing mindfulness, stress-reduction techniques, and maintaining a positive outlook.

  14. Celebrate Small Wins:

    – Acknowledge and celebrate the small achievements and positive moments in your caregiving journey to stay motivated.

 

Remember that caregiving can be a long-term commitment, and it’s crucial to take care of yourself to provide the best possible care for your loved one while maintaining your own well-being. Regularly reassess your caregiving situation and be open to adjusting your approach as needed.

“They may forget what you said, but they will never forget how you made them feel."
- Carl W. Buechner

How does technology help primary caregivers?

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How does technology help primary caregivers?

By Health Times Healthcare Experts

Technology is a crucial tool for primary caregivers looking to streamline their work to support their older relatives.

  • Technology enables primary caregivers of elderly relatives to stay connected with their loved ones from afar.

  • It provides access to helpful resources and services and assists in planning long-term care.

  • It is crucial in managing logistics and keeping track of important documents.

  • It helps caregivers better manage their stress levels when involved in caregiving duties.

Stay connected with loved ones - even when they're far away

In today's world, technology can provide invaluable support for primary caregivers of senior relatives. With rapidly advancing technology, caregivers can now access various tools and resources to support their caregiving duties. 

Caregivers can use technology for various things, including monitoring the health of elderly family members, providing medication reminders and alerts, connecting with family members, and keeping family memories safe. 

By incorporating technology into the daily routines of primary caregivers of elderly relatives, a wide range of solutions are available that make it easier than ever before for people caring for ageing parents or grandparents at home to get assistance managing their responsibilities as well as stay connected with those they love most despite the physical distance separating them.

Read more...

"Keep your face to the sunshine and you cannot see a shadow."
- Helen Keller

Five Facts You Need To Know About Senior Isolation

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Five Facts You Need To Know About Senior Isolation

Recent research has shown that isolated seniors do not live as long and are more likely to develop long-term diseases compared to their more social counterparts.

Recent research has shown that isolated seniors do not live as long and are more likely to develop long-term diseases compared to their more social counterparts.

  • Stay in regular communication with them
  • Consider meaningful ways to fill their time
  • Isolated seniors are more vulnerable to financial scams and elder abuse, especially when family relationships are poor
  • Despite common misconceptions, older adults who are married or who live with a partner are as likely to report isolated feelings as those who are not
  • Couples often experience a change in their social lives as their children become busy with young families and their friends move or pass away

Strengthening social support can act as a key protector against maltreatment by the elderly. Practicing self-care, taking awareness for a few minutes, seeking support, and hiring respite home care can all help family caregivers get the rest and the social connection they need.

Seniors who are isolated tend to need longer-term care. With the toll that loneliness can play on physical and mental decline, older adults with fewer social contact require longer-term care. Professional care can be an important piece in the puzzle when it comes to reducing social isolation.

Companies lose out when employees’ caregiving burdens increase

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Caregiving is more than paying for childcare or a nursing home for elderly parents. More people are taking these responsibilities on themselves and it's costing companies in productivity and skilled talent, according to a new study.

The definition of caregiving is being expanded as more Americans take care of loved ones, young and old.

American workers must make the most out of their situation when life happens while performing at an optimum level. That’s the corporate ideal, but on a personal level, the burden of caregiving can exceed a worker’s mental fortitude and earning potential. A new report from the Harvard Business School Project on Managing the Future of Work shows companies lose too when workers must decide when to care for a loved one or to keep on working. Click the image to read more.

Caregiver Statistics: Work and Caregiving

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Ever wonder the opportunity cost of not supporting employees that are caregivers?

Definitions:

A caregiver—sometimes called an informal caregiver—is an unpaid individual (for example, a spouse, partner, family member, friend, or neighbor) involved in assisting others with activities of daily living and/or medical tasks.

Formal caregivers are paid care providers providing care in one’s home or in a care setting (day care, residential facility, long-term care facility). For the purposes of the present fact sheet, displayed statistics generally refer to caregivers of adults.

The Sandwich Generation is defined as those adults with at least one living parent age 65 or older and who are either raising a child younger than 18 or providing financial support (either primary support or some support in the past year) to a grown child age 18 or older.

Click here to view the entire report from Caregiver.org

For employees in the "Sandwich Generation", caring for both children and parents, opportunity cost is significant.

Click the link above to find more information about:
•   Juggling Work and Caregiving
•   Impact on Working Caregivers
•   Impact on Working Female Caregivers
•   Annual Income
•   Impact on Employers
•   Best Practices for Removing Barriers to Equal Employment