October 22, 2008
Seniorlink(TM) Announces New Subsidiary for Increased Focus on Eldercare Advice and Care Management Services
The Seniorlink,(TM) Inc. Board of Directors has approved the establishment of a new operating company named Seniorlink Care(TM) to increase focus and address the growing demand for eldercare advice and geriatric care management. Families faced with long-term care decisions for aging parents will benefit from Seniorlink Care's combined experience with the healthcare and social issues of aging family members.
"To make sure that we dedicate sufficient management focus, human resources, and capital to this growing market, we are establishing Seniorlink Care(TM) as a new operating company. This focus will help us to better serve families caring for aging parents and relatives, whether they receive government support or are paying out-of-pocket for long-term care," said Seniorlink(TM) CEO, E. Byron Hensley.
Seniorlink Care(TM) will be responsible for the management and growth of eldercare advice and care management services that are offered through employers, insurance companies, associations and elder law attorneys - and for creating new programs that make their services more widely available to families.
For a couple turning 65, there is a 75% chance that one of them will need long-term care(1). With long-term care expenditures expected to triple due to the aging population (from $115 billion in 1997 to $346 billion annually in 2040(2)) - Seniorlink Care's goal is to help families avoid making decisions in the middle of a health crisis, and to lessen the unexpected expenses and emotional stress that arise when the situation is complicated by short-sighted decisions.
The Board of Directors has named Richard D. Twomey as Executive Director of Seniorlink Care(TM). Formerly Vice President of Sales and Marketing, Mr. Twomey has applied his expertise to both Caregiver Homes(TM) of Massachusetts and Seniorlink's elder care management lines of business. He has a broad background in employer-based benefit programs, product management and underwriting of health care provider insurance programs, corporate and product branding, and the creation and management of captive and distributed sales and marketing programs. Mr. Twomey has held management positions with Blue Cross and Blue Shield of Massachusetts, Harvard Community Health Plan, Lexington Insurance Company, and Delta Dental Plan of Rhode Island.
According to Richard Twomey, "Family members making long-term care decisions on behalf of their parents, often shoulder much of the financial responsibility. Seniorlink Care's emphasis on professional advice, timely planning, and new program options will make the best use of caregiver and financial resources."
Seniorlink,(TM) Inc. was established in 2000 to help families provide care at home for aging parents and relatives. Services provided (now through newly-formed subsidiary, Seniorlink Care(TM)) include professional advice, education, in-home geriatric care assessments and ongoing care management, and are offered to individuals and employees of corporate partners using a nationwide geriatric care network. In 2006, Seniorlink(TM) subsidiary, Caregiver Homes(TM) of Massachusetts, was established to provide community-based eldercare and housing options for seniors and disabled adults eligible for Medicaid and nursing home placement. For more information, visit www.seniorlink.com.
(1) Wall St. Journal, 6/2000
(2) Niefield, M. E. O'Brien, and J. Feder. Long-term care: Medicaid's role and challenges. Washington, DC: Kaiser Commission on Medicaid and the Uninsured, 1999