Elder Care Gap Costs U.S. Companies $11.4 Billion -- And Will Grow

The Families and Work Institute projects that by 2002, more than 40% of all working Americans will be providing some form of elder care to a family member. Yet only 1% of U.S. employers sponsor company-supported elder care. Absent more government or corporate support, the potential cost in lost productivity from absenteeism, workday interruptions and the like -- already estimated to be $11.4 billion -- is certain to go higher, says the Institute, because the number of Americans aged 65 and older is expected to increase by more than 50% to 62 million by 2025.