Navigation Links
New Easter Seals-MassMutual Study: Autism Strains Family Finances, Threatens Long-Term Care and Security
Date:12/16/2008

SPRINGFIELD, Mass., Dec. 16 /PRNewswire/ -- Caring for children with autism is wreaking havoc on family finances across America, jeopardizing current and long-term care and security, according to a new study, Living with Autism, released today by Easter Seals and Massachusetts Mutual Life Insurance Company (MassMutual).

"No one expected the problems and challenges to be so severe for families living with autism -- the numbers are stark and point to the pervasiveness of this public health crisis," said John Chandler, senior vice president and chief marketing officer of MassMutual's U.S. Insurance Group. "The study reveals that many families are exposed to serious financial risk due to a lack of awareness and planning."

For example, of parents having children with autism:

-- 74 percent fear their children will not have enough financial support after the parents die (compared to only 18 percent of parents with typically developing children)

-- 52 percent say caring for their child drains the family's current financial resources (compared to 13 percent)

-- 47 percent say the cost of care financially impacts how they raise typically developing siblings

"The good news is that, with increased awareness and the right help, this is one piece of the autism puzzle that parents can begin to solve," added Chandler.

"There's a lot at stake," said Joanne Gruszkos, director of the SpecialCare(SM) program at MassMutual. "By not addressing financial and life care planning needs, or addressing them with inexperienced professionals, a lot of these families could, at the very least, risk losing the government services that are a real lifeline for children with autism."

The study found that despite overwhelming need, most parents don't seek out the help of skilled financial professionals for a variety of reasons, including lack of time, not knowing where to start, and simply being overwhelmed. "Even when they do reach out, the help can be misguided because it comes from financial professionals who are not trained specifically to deal with complex cases involving special needs," added Gruszkos. "Run-of-the-mill planning can backfire."

    The study found that:
    -- only half of families surveyed receive professional financial advice
    -- only 38 percent have designated a guardian
    -- only 17 percent have created a Special Needs Trust, which can be an
       important funding vehicle
    -- only 24 percent have identified living arrangements if the parent is no
       longer living

MassMutual's SpecialCare program is an innovative outreach initiative developed exclusively by MassMutual to provide access to information, specialists, and financial products and services that can help improve the quality of life for people with disabilities and other special needs and their families and caregivers.

"Life care planning is a growing area of financial services need, as awareness and occurrence of disabilities and special needs increases across the country," explained Gruszkos. "MassMutual has more than 200 Special Care Planners across the U.S. who have received advanced training in estate and tax planning concepts, special needs trusts, government programs, and the emotional dynamics of working with special needs families and caregivers," she added.

"There is an urgent need for increased funding and services -- especially for adults with autism. Easter Seals and MassMutual want to help change all of this and make a difference for families living with autism today," concluded Patricia Wright, Ph.D., MPH, Easter Seals' national director, autism services.

Results of the study are available at http://www.massmutual.com/autism. A variety of resources from MassMutual for people with special needs, their families and caregivers are available at http://www.massmutual.com/specialcare/resources.

    MEDIA CONTACT:
    Karen Lavariere-Sanchez, MassMutual, 413-744-7660
    Patrick Collins, Madison Communications, 617-553-0349
   http://www.massmutual.com/autism

'/>"/>
SOURCE MassMutual
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Easter Seals Study Sheds New Light on Parents Life-Long Fears, Anxieties and Critical Supports Needed to Raise a Child With Autism
2. Pharmaceutical Water Markets, the Economic Crunch Creates New Opportunities in Southern and Eastern Europe
3. Eastern Wisconsin Residents Demonstrate Their Commitment to Being Good Neighbors
4. Easter Seals Awarded $100,000 McCormick Foundation Grant to Help Employ Wounded Veterans
5. Independence Blue Cross Celebrates 70 Years Of Service In Southeastern Pennsylvania
6. Misonix Schedules First Quarter Fiscal Year 2009 Financial Results Conference Call; November 13, 2008 at 4:30 P.M. Eastern
7. Agriculture, Health Officials Address Food Safety Concerns During Northeastern PA Tour
8. Easter Seals Elects Kent Schien, Chief Executive Officer of St. Louis-based Innoventor, to the Organizations International Board of Directors
9. Cancer Patients in Southeastern Florida Now Benefiting From RapidArc(TM) Radiotherapy Treatments
10. SCOLR Pharma, Inc. Schedules Third Quarter 2008 Financial Results Conference Call for November 7, 2008 at 11:30 A.M. Eastern
11. Blue Cross Blue Shield of Michigan Foundation Grant to Eastern Michigan University Will Help Ypsilanti Elementary Schoolchildren Lead Healthier Lives
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/23/2016)... (PRWEB) , ... May 23, ... ... neighborhoods report encounters with aggression and sexual objectification, according to Georgia State ... School Psychology Forum, African-American girls in the fifth, sixth and seventh grades ...
(Date:5/23/2016)... ... May 23, 2016 , ... ComplianceOnline, the leading governance, risk and compliance advisory ... on September 15 and 16, 2016 in San Diego, CA. The two day ... will be one of the largest gatherings of medical device companies, suppliers, professionals and ...
(Date:5/23/2016)... ... May 23, 2016 , ... During Logan ... Standard Process Inc. awarded $6,000 in chiropractic scholarships. The winners of ... student is in her fifth trimester of classes at Logan. , “Standard Process ...
(Date:5/23/2016)... ... May 23, 2016 , ... Four Circles Recovery Center, ... addiction, is proud to announce the launch of its new extended care program, Fifth ... wilderness treatment at Four Circles or another primary treatment program, Fifth Circle is designed ...
(Date:5/23/2016)... Plano, TX (PRWEB) , ... May 23, 2016 , ... ... Analytics’ on June 10, 2016 from 11:00 AM – 12:00 PM ET. To ... GlobalHealth’s decision to start a proactive outreach program built on Big Data with a ...
Breaking Medicine News(10 mins):
(Date:5/23/2016)... 23, 2016 The World Health Organization (WHO) expanded ... to include adolescents aged 13 years, and above. Effective immediately, ... for adult and adolescent males in the 14 priority countries ... was the first male circumcision device to receive WHO Prequalification ... Eddy Horowitz said: " The expanded use ...
(Date:5/23/2016)... UAE, May 23, 2016 Experts ... of Precision Medicine and the role of technology ...   The First International Conference of VPS-Penn Medicine ... distinguished patronage and presence of Sheikh Nahyan bin Mubarak Al ... in Precision Medicine, which helps provide personalized medicine and tailor-made ...
(Date:5/23/2016)... May 23, 2016 The global  ... 5.0 billion by 2022, according to a new study ... medical waste coupled with the lack of centralized support ... to drive the demand for reprocessed medical devices market. ... compared to that of the original device is the ...
Breaking Medicine Technology: