Elder Care in America: As Population Shifts Older, Families and Caregivers Feel the Strain

AARP released dramatic data about the impact of an aging population on family members and professionals that serve as caregivers. For far too many of us, the organization's study confirmed what is already well-known first hand: the work of caring for our parents and other loved ones in need of assistance is largely done by their adult children, yet few of us are neither properly trained, or emotionally or financially prepared for the stress and strain of doing so. And as our population demographics swing older, this will be the reality -- and the daily challenge -- for more and more of us, as a recent PBS program underscored and a poignant first-hand account in USA Today illustrated. By 2030, one in five of us will be senior citizens; by 2050 one in three of us will be so. While that's a significant jump in only 20 years, it's an even steeper climb from 1950, when roughly one out of 13 people (8% of the population) was 65 or older. The "typical" person thrust in the role of elder care provider, at least initially, is the adult daughter. In her mid-fifties, she is usually employed and has a family of her own, hence the term "sandwich generation" coined to describe adults in their 40s and 50s who are financially supporting both a parent(s) and child(ren). How many of us adults would that describe? Nearly half. And here's what additional demographic shifts come into disruptive play. As AARP points out, when today's care-providing adults need help themselves, their options will be limited. Families are simply not as large as they once were. While today there are seven potential caregivers for every senior over the age of 79, that ratio is predicted to drop to 3 or 4 to 1 by 2030. That means more of us will be compelled to seek help from professional caregivers, either in the home or at a nursing facility. But as the policy think-tank The Brookings Institute weighed in this week:

"…(T)he preparation of the health care workforce to meet the needs of older adults remains “woefully inadequate.” The fragmented long-term care “system” falls short in addressing the key issues of quality of care and quality of life. A major portion of the services for older adults are provided by direct care workers such as nurse aides and home care workers, about half of whom have a high school diploma or less, who earn on average between $21,000 - $25,000 a year for full-time work, typically receive 75-120 hours of job training, and have high turnover rates…Is this any basis upon which to achieve health care’s triple aim of improving the experience of care, improving health outcomes, and reducing per capita costs?..."

As a country, we have to do better. Better for our seniors, better for their families, and better for our professional caregivers. And that's what drove me four years ago to quit my Wall Street job. At the very core of CareLinx' DNA is my family’s struggle to find reliable, affordable caregivers with the availability and training to take care of my sister and uncle, both of whom were dealing with debilitating illnesses. I know what families are going through, and saw wonderful caregivers struggle to make ends meet because, although we were paying their agencies $30 or so an hour for their services, they were just barely making more than minimum wage. I'm proud of what we've built and deeply heartened by the recognition we've received from the AARP and other leaders in gerontology today for our efforts. We're helping thousands of families across the USA and equally important, we're also helping the more than 100,000 caregivers on our platform. Through CareLinx, they are able to connect directly and reap the financial benefits, earning up to 30% more, by cutting out the agency middleman without sacrificing the quality of care or the peace of mind that comes from knowing, if you're a family member, that your caregiver has been screened and vetted, and if you're the caregiver, that we'll help with the admin issues to make sure you get paid on time in compliance with all employment laws and that we carry $1 million professional liability insurance in the unlikely event something goes awry. We can't stop the country's aging demographics from changing, but we are doing something about alleviating the stress and strain that it will bring -- one family, one caregiver at a time.

CareLinx CEO Sherwin Sheik