Senior Providers Blog

Pet Insurance vs. Eldercare Employee Benefits

Posted by Senior Providers Network on Jun 14, 2018 10:00:00 AM

We love our pets.  If you think about it, they are extensions of the family.  Having pets take on lots of responsibility.  We know what having children can cost, but pets can cost a lot too!  Pet insurance is one of the fastest-growing voluntary employee benefits, one in three Fortune 500 companies now offer pet insurance. More than 3,800 companies and organizations have added Veterinary Pet Insurance (VPI, a Nationwide Insurance company) to their benefits portfolio, including Chipotle Mexican Grill, Deloitte LLP, Delta Airlines, Hewlett-Packard, Microsoft, T-Mobile, UPS, and Xerox, according to VPI Pet Insurance.

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Topics: Employee Benefits, Family Caregiver

Hospital Tips For Seniors And Family Caregivers

Posted by Senior Providers Network on Jun 12, 2018 10:00:00 AM

We were asked to put together a list of tips for seniors and their family caregivers that they could use when having to go to a hospital.  There are more detailed lists out there but these are the main items

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Topics: Caregiving, Family Caregiver

Helping our Veterans Benefit by Living Independently at Home

Posted by Senior Providers Network on May 1, 2018 10:00:00 AM

If you are a primary caregiver for a veteran and your company doesn’t offer an Eldercare Employee Benefit at work, you may feel alone.  There is a program called, “Homemaker/Home Health Aide” that is offered through the Veteran Administration (VA). This program provides care services in the home through approved agencies.  A registered nurse will go in and do an initial assessment and work with a trained home health aide to provide assistance with Activities of Daily Living (ADL’s) for the veteran. Here are some examples of the services that they provide:

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Topics: Family Caregiver, VA Aid and Attendance Benefits

What You Should Know About the Cost of Senior Care.

Posted by Senior Providers Network on Apr 26, 2018 10:00:00 AM

Are you one of the many members of the never-aging Baby Boomers Generation or the sandwich generation caring for elderly parents who don't live nearby? Or perhaps they are close, but work keeps you too busy to get over to check on them daily? Do you that having an aging parent live with you in your home can be much cheaper than moving mom or dad into an independent or assisted-living facility? But having another person in your home won't be cost-free. " You should be prepared for miscellaneous expenses, especially if you have a parent thаt doesn’t have a реnѕіоn аnd will bе depending on you for support," says Glenda Standeven, an inspirational speaker who has shared her home with her mother for the past 17 years.
Thus according to research by Senior living referral service A Place for Mom and other sources have found that the cost of ѕеnіоr care аnd housing has steadily increased in the U.S. throughout the last several years. What's more, the cost of senior care vаrіеѕ drаmаtісаllу dереndіng on where you live.

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Topics: Family Caregiver, Sandwich Generation

Is Average America Saving for Retirement….OR NOT?

Posted by Senior Providers Network on Apr 25, 2018 10:00:00 AM

Retirement is a big issue today because far too many people are ill-prepared. In American, Baby boomers and seniors said that their biggest financial challenge was planning for retirement while the young millennial are less concerned though they have higher debts and fewer assets, they are more advantage of having a retirement account, purchase their own home and stocks than people a few decades ago, according to the Fed study.
Regarding Social Security retirement benefit, it is only intended to supply 40% of a person's salary. If they would like to continue living at the same level, they will need to have additional cash. Unfortunately, 62% of Americans have saved up just $1,000. According to the Economic Policy Institute (EPI) "Nearly half of families have no retirement account savings at all," and also the median value of a 401(k) account for someone 65+ is about $60,000. That's however not much to live on spread out over 20 years. Thus, this is important because of the other two (2) "legs" of the retirement "stool” Social Security and pensions are increasingly under pressure. Hence as of January 2017, the average retiree receives $1,360 per month from Social Security. That's $16,000 a year. The median private pension was only $9,376 per year; according to the Pension Rights Center (state, local, and federal pensions were higher). Only a few people are able to collect both social security and private pensions. That's not going to do much to move the needle. You need 10 times that amount of savings to make a significant impact, but the vast majority aren't anywhere near that.

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Topics: Sandwich Generation, Employee Absenteeism, Retirement

How does the Sandwich Generation Save for Retirement?

Posted by Senior Providers Network on Apr 24, 2018 10:00:00 AM

The term “Sandwich Generation” is used to describe a growing group of реорlе who are саrеgіvеrѕ fоr thеіr young children and aging parents. Usually, this applies to people in their late 30s, 40s, and 50s. Any members of this group also have full-time employment, but they may find it necessary to reduce their work hours or leave their jobs altogether to tend to their parents' needs. This can add to the stress by creating financial difficulties. Approximately 15% of the people in this category provide financial support to both a parent and a child.  This can quickly drain their resources, especially when employment hours have been reduced. Sharing time between children and aging loved ones may also leave this generation with little or no time for themselves. Members of the sandwich generation may be more likely to become isolated, overwhelmed, anxious, depressed, than caregivers who do not have children at home.  Since they are providing care for both generation, they have even less time to seek out relationships and other social connections.

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Topics: Caregiving, FMLA, Family Medical Leave Act, Family and Medical Leave Act, Family Caregiver, Sandwich Generation

How Much Insurance do I Need in Retirement?

Posted by Senior Providers Network on Apr 23, 2018 10:00:00 AM

If you have a family or people that depend on you, then you need some level of coverage. The first thing is to determine if at all you need insurance and if you do, what type is best for you and how much protection you need. In addition to investing and saving money in the quest for ensuring our future, obtaining the right insurance can help avert unexpected events from disrupting retirement plans. It guarantees a secure retirement. Very quickly, it is crucial to highlight the vital insurance coverage one should put in place in response to retirement- disability insurance, homeowners insurance, long-term care insurance, life insurance and medical insurance. There are others but priority should be given to these.

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Topics: Sandwich Generation, Retirement

How FMLA can help employees when caring for a senior loved one

Posted by Senior Providers Network on Apr 21, 2018 9:38:12 AM

Do you have a senior loved one who needs your care and support? Do you have a difficult time to care for your senior loved one? Do you want to know how FMLA can help you when you are giving care to a senior relative? Are you considered ineligible for FMLA to take care of your senior family member? Read further to be clear about Family and Medical Leave Act provisions with regard to caring for senior loved ones.

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Topics: FMLA, Family Caregiver

Why Eldercare Employee Benefits are so Important

Posted by Senior Providers Network on Mar 29, 2018 10:00:00 AM

15% of the current U.S workforce is providing care to an aging loved one. The associated time, costs, and impact on productivity causes a loss of $30B every year for businesses. This happens because employees providing such care tend to become stressed or overwhelmed and they can’t be as productive at work as they should be. To enable your business to avoid this lost potential, it is important to implement elder care into your employee benefits package.

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Topics: Employee Benefits

How Employee Benefits Affects Total Compensation

Posted by Senior Providers Network on Mar 27, 2018 10:00:00 AM

As more companies provide unique employee benefits packages to attract top talent, the cost of these perks is constantly rising in relation to actual salaries. Benefits that are aimed at boosting workplace productivity and attracting the best employees are beginning to comprise a significant percentage of a worker’s total compensation.

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Topics: Employee Benefits