Elder Care Pays Off For Everyone

(CBS)  When Linda Blossom leaves her office at Freddie Mac, the mortgage giant, another job begins. She takes care of her 74-year old mother, who has been battling breast cancer for years, CBS News correspondent Kelly Wallace reports.

"She acted a little stressed for a while and then all of a sudden, I didn't see the stress anymore," says her mother, Gladys Tulloch.

What changed? Blossom started attending monthly support group meetings at her office, where, on company time, she and other workers can vent and share tips about caring for mom and dad.

Blossom says it's made a "huge, huge" difference. "I've told people, it's all about people helping people," she says.

Mary Ann O'Connor, director of benefits for Freddie Mac, says it also protects the company's bottom line.

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"By offering something like this, it definitely helps Freddie Mac because they're coming to work and they're being productive and they can focus on the job at hand," O'Connor says.

That's important, because companies lose a staggering $33 billion a year when employees miss work or quit to care for their loved ones. As the workforce ages and people live longer, those numbers are only going to go up.

Johnny Taylor, who tracks workplace trends, says corporations that once were pressured to provide better child care are now going to have to provide better elder care.

"Employees will begin to demand it because it will be such a strain on them personally and financially to provide for their elder parents and their grandparents and the like and they'll call for it," Taylor says. "It'll become a part of the new benefits package."

Corporate America has a long way to go. According to a survey conducted by Taylor's group, Society for Human Resources Management, for CBS News, only about one in four companies offers any elder care benefits.

McGraw-Hill allows workers to add mom or dad to their health plan. Prudential Financial offers legal help to prepare living wills for elderly parents. Blossom's company, Freddie Mac, provides emergency elder home care for which employees pay just $15 a day.

What businesses get in return, according to Blossom, is not only greater productivity, but loyalty.

"If they didn't understand it here, I wouldn't be here," she says.

For this mother and daughter, that understanding means everything.

"It's been a real blessing," Tulloch says. "I'm really very blessed."

[rmmax48]

I am a teamster working for a company that makes a lot of beer. I have volunteered to be part of the company's Interaction Committee. When I saw your report on taking care of the elderly I felt this was a great project for our committee to start up. I am currently gathering information on how to start a monthly meeting for people who are the both working and are caregivers. I too believe it's all about people helping people in need.

Our company and the people who work here do alot for organizations that reachout to those less fortunate. Perhaps we can reachout to some of these people that work so hard here at our plant and are caregivers also.

I was once someone who had to take care of a loved one with alzhemiers while working and I know I would have appreciated someone to talk with from time to time. I'll keep you posted as to my progress in my newly found endeavor to create an avenue for caregivers.

[nlmfullmoon]

I also care for my mother in my home. Medicare does not help with daycare so that the caregiver can work, nor does Medicaid. Family Medical Leave. does give me unpaid leave when needed. but the cost of day care , or CNA's to come to the house is far more than I make as hour. Ageing an in home services, had a waiting list 4 years long, an after waiting an getting services from them, I found out that I still could't use their services, an work.

[raccettura]

Wow, cool!

[dragonmouse-2009]

They really need more in elder care. We're ALL going to get old. It's unavoidable no matter how much nipping, tucking and botoxing we do.

Not all of us can take care of older parents. We don't have "resources", money or physical ability.

[jmb35]

Thank you CBS News for airing a story of this nature. Hopefully, this story will get executives in both the corporate and academic arenas to take this issue very seriously and act on it. One day, they are going to be old and will depend upon their children to take care of them.

[tammylh]

I loved this segment, I am currently taking care of my father at my home and it has been a blessing and also a very difficult thing because of his health issues. I have been looking for what services he may qualify for we live in Oklahoma and my dad is on VA disability and Medicare, I did call about SSI but they said he makes to much money, he get about $1,200.00 a month and over half goes towards medication. I think a support group is wonderful just to share how you are feeling and if anyone knows of services that may be available to the seniors.