Caregiving for today's workers not only includes childcare, but aging parents, spouses, and other loved ones too. Caregiving can be a burden and is also associated with high stress, financial hardships, burnout, and evolving changes with jobs.
Today's employers are typically responsive to the needs of caregivers who need to provide support and care to their loved ones with employee and caregiving benefits. These benefits can be critically important to caregivers who stay in the workforce and balance the demands of their job and caregiving duties. These benefits can also have a profound effect not only on the workforce front, but on their physical and mental health too.
While government benefits like Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), and Medicaid are probably the first that come to mind when you think about covering your loved one’s financial and health needs, it's important to know that your employer might offer additional benefits to help support you as a caregiver.
Various benefits and programs are available to assist caregiving employees and access resources. Here are some common employee benefits:
Tax savings
- Health Savings Account (HSA) is a tax-advantaged account you can use along with an HSA-eligible health plan to save money to help pay for qualified medical expenses.
- Flexible Spending Account (FSA) allows employees to save pre-tax income to pay for qualified dependent care expenses, such as childcare.
Supporting employees
- Life insurance. Depending on your policy, life insurance can either replace your income after your death or help transfer your wealth to your heirs, helping to protect your family’s financial future.
- Group disability insurance helps to replace your income if illness or injury prevents you from working.
- Family and Medical Leave Act (FMLA) allows eligible employees to take up to 12 weeks of unpaid, job-protected leave annually — 26 weeks per year, if caring for members of the military.
- Paid Family and Medical Leave (PFML) is offered in 13 states and provides eligible employees with pay and job protected leave while they take time off for caregiving.
Do your research and be sure to check with your employer and state laws for what's available, and best for you and your situation.
Support and practical assistance
- Employee Assistance Program (EAP) includes assessment, counseling, or referrals to help resolve a wide variety of personal situations.
- Benefits navigator or concierge help with choosing your benefits or assistance managing and scheduling day-to-day tasks.
- Flexible work arrangements. Remote and hybrid work options, as well as paid caregiver leave, and flexible hours offer balance to the demands of home, caregiving, and work.