Alzheimer’s in ABQ’s Workforce: Are Your Employees at Risk and How Can Your Business Respond?
Are you aware that every 3.2 seconds, there's a new individual in the U.S. battling Alzheimer’s?
In Albuquerque (ABQ), both businesses and employees are grappling with the impacts of this disease, which is far more prevalent in our workplaces than we may realize.
In this article, we aim to shed light on the implications of Alzheimer’s in the workforce and provide practical strategies for businesses to adopt proactive and supportive employee benefits solutions.
Let's unveil the sobering reality of Alzheimer’s in ABQ's employee populations and introduce solutions for an increasingly pressing issue that is affecting over 6 million people in the U.S. alone as of 2023.
1. The Silent Epidemic in ABQ's Workplaces
The statistics are alarming: an estimated 6.2 million Americans are living with Alzheimer’s disease today, with projections of one new case every 33 seconds by 2050.
This 'silent epidemic' isn't just affecting individuals—it's rippling into our workplaces and impacting employee populations.
Many caregivers—60% of the 11 million in 2020—were juggling their full-time jobs while providing an estimated 15.3 billion hours of care for people with Alzheimer’s or dementia.
The toll on caregivers is immense, with over 33% reporting that their health has deteriorated due to their care responsibilities, subsequently impacting their work performance.
2. Recognizing the Impact of Alzheimer’s on the Older Workforce in ABQ
Alzheimer’s, a progressive form of dementia, disrupts memory, thinking, and cognitive behavior. It is most common in those over age 65, affecting one in nine people in this age group and there are currently 6.7 million people in the U.S. age that are 65 or older suffering from this disease.
Traditionally, 65 has been considered the retirement age, but an increasing number of Americans choose to remain in the workforce longer.
With Baby Boomers—those most likely to develop Alzheimer’s—comprising 25% of the current workforce, employers need to be proactive.
Being prepared for the increased healthcare costs associated with chronic conditions like Alzheimer’s and ensuring compliance with anti-discrimination laws is crucial.
Are you concerned about Alzheimer’s impacting your workforce? Learn more about our affordable employee benefits program.
3. Cultivating a Supportive Work Environment in ABQ
As healthcare costs rise annually (consumer spending for medical care alone, on average, has grown at a rate of 3.4% each year), employers seek effective ways to manage expenses associated with health plans. One key area is chronic conditions like Alzheimer’s, heart disease, and diabetes, which significantly contribute to plan costs.
Designing benefits plans that resonate with a multi-generational workplace is becoming a growing focus for employers.
By understanding the healthcare challenges tied to specific population groups, employers can make strategic decisions about benefits offerings that genuinely meet their employees' needs.
4. Bridging the Gap with Access and Direct Pay Solutions
Your employee health benefits might be costly, and your employees may struggle to find a primary care provider, leading to higher-cost access points like Urgent Care and Emergency Rooms, and deferred care due to the associated hassle and unexpected costs.
Well Life ABQ’s Primary Care Program offers a solution with a 24/7 telemedicine service, providing employees access to healthcare at the right time, right place, and for the right price.
Direct pay arrangements for labs, radiology, and many specialists ensure that your company and your employees can avoid inflated insurance claim costs, access massive discounts, and never receive the dreaded surprise bill months later.
The program is straightforward, but we understand that you may have questions. Ready to start a conversation about affordable employee benefits? Reach out to us today.
By recognizing the reality of Alzheimer's in our workforce, employers can become part of the solution, providing essential support for their employees while managing healthcare costs and compliance risks effectively.