Client data review reveals 13.1% increase in anxiety and depression across elder care recipients, 17.9% increase in child mental health challenges, 95% increase in elder care scam concerns, and a 33.6% increase in financial and estate planning concerns.
BOSTON, July 16, 2020 /PRNewswire-PRWeb/ -- Torchlight, a leading provider of employee-caregiver support solutions, today released its client data review of the most pressing family and caregiving concerns of U.S. employees since the onset of COVID-19. The study analyzed the responses of a sampling of Torchlight's users from March 15, 2020 through May 31, 2020 and found that American families are reporting a steep increase in depression, eating disorders, and legal, financial and estate planning concerns of their elderly family members. The study also revealed a nearly 100-fold increase in elder care scams, and a sharp uptick in mental health and ADHD diagnoses of their children.
The time period of the data capture coincides with the early stay-at-home orders in March through the re-opening of some businesses that occurred by the end of May. The findings were compared against the same employee data during the prior period from January 1, 2020 to March 14, 2020. Currently, more than 1.8 million employees across all industries in the United States have access to Torchlight through their employer-sponsored benefit program.
Shortly before the pandemic hit, the National Alliance for Caregiving (NAC) and AARP released their Caregiving in the US 2020 report which affirmed that more than 20% of all Americans are family caregivers and 23% of caregivers cited worsening health due to caregiving responsibilities. Prior to the pandemic, a growing number of Americans were already challenged with family caregiving responsibilities and their own deteriorating health.
"COVID-19 has put new stresses on millions of already-overwhelmed Americans who are struggling to balance their careers and jobs with the day to day demands of care," said C. Grace Whiting, JD, President and Chief Executive Officer, National Alliance for Caregiving. "We're encouraged to see new data and research on how COVID-19 impacts family caregivers. This type of data can help inform what solutions may best equip families in a post-coronavirus world."
Key findings from Torchlight's client data since the onset of COVID-19:
● 13.1% increase in anxiety and depression diagnoses across elder care recipients
● 25.6% increase in eating and nutrition concerns among elder caregivers
● 95.5% increase in elder scam concerns among caregivers
● 33.6% increase in concerns about creating/updating legal documents for elders
● 25.6% increase in financial and estate planning concerns among elder caregivers
● 17.9% increase in child mental health diagnoses
● 12.6% increase in ADHD diagnoses
● 16.1% increase in employee concerns about their children's screen time (including social media use)
The company has also released its Caregiving in the Next Normal Toolkit which is designed for organizations, businesses, individuals, parents, and caregivers in need of assistance and information during the Coronavirus/COVID-19 pandemic. Available for download today, the kit contains nearly two dozen guides and tools, including articles, podcasts and webinars for eldercare and parent/child resources.
"Torchlight's intelligent platform uniquely allows us to gain real-time access to the leading indicators of caregiver trends," said Adam Goldberg, CEO of Torchlight. "With that first-of-its-kind capability, we feel an enormous responsibility to lead the charge in bringing visibility about the evolving needs of caregivers to employers, health plans, healthcare providers, and other partnering organizations."
At Torchlight, we believe that caring is everyone's business and caring is good business. We are the only complete caregiver support solution for employers and member organizations. We offer solutions informed by data and, thus, are built for better results. Our approach includes a user-friendly digital platform and a team of expert advisors. No matter the age, stage or concern, Torchlight's decision-support tools, caregiving knowledge base, and human expertise combine to reduce stress and enhance outcomes for both families and their sponsoring organizations more cost-effectively than call center or concierge-only solutions. Because getting caregivers the right resources, in the right ways, right from the beginning should be business as usual. Learn more at http://www.torchlight.care, or email firstname.lastname@example.org.