Juno

Being a working parent is challenging, but when you add caregiving for a child with special needs, it can feel overwhelming. Juggling medical appointments, daily care, and the financial costs—on top of your career—can really take a toll. Research indicates that caregivers of children with severe disabilities face annual expenses exceeding $50,000, amounting to over $1.5 million throughout their child's lifetime. This financial strain, coupled with the emotional stress, affects every aspect of their lives, including their work. The cost to replace an employee is about 50% of their salary, yet companies that offer caregiving benefits see up to a 340% return on investment. Benefits like flexible hours, telecommuting options, or child disability insurance can make all the difference in helping parents stay in the workforce and care for their families. When companies support working parents, everyone wins. Parents get the peace of mind they need, and employers retain great talent who can give their best at work. We can make caregiving less of a burden, both financially and emotionally, and create workplaces where parents don’t have to choose between their careers and their children. Please reach out to us here at Juno if you are looking for a new way to support your working parents.

The financial impact of Autism Spectrum Disorders (ASDs) is bigger than most people realize. New research has highlighted the substantial costs involved—not only the direct expenses such as special education and care, but also the hidden impact on families, including the stress and emotional toll on parents and the challenges faced by individuals with autism. The lifetime cost of caring for someone with autism can run into the millions, depending on the level of support they need. It’s a huge burden for families, both emotionally and financially. The constant stress and financial strain can disrupt family dynamics, affecting relationships, mental health, and overall well-being, leaving many families feeling overwhelmed and unsupported. When we started Juno, we thought about these challenges and knew we had to do something. Our goal is to make sure families aren’t left to handle these massive financial pressures on their own. Now, there’s finally a benefit employers can offer that truly helps parents manage one of the biggest financial risks they face today. Please send us a message if you are interested in discussing further. We’d love to hear from you.

Juggling parenthood and work responsibilities is a challenge that many parents know all too well. For some, this balancing act becomes even more difficult when their child has a disability. Recent data reveals a stark reality: women bear the brunt of this challenge. In a study of 500,000 parents whose children were diagnosed with cancer, women struggled to financially recover even a decade after their child’s diagnosis. Meanwhile, men’s earnings nearly returned to normal within six years. This isn’t just a family issue; it’s an equity issue that keeps women from progressing in their careers and achieving financial wellness. It’s time for companies to take meaningful action by offering comprehensive support for working parents, especially those caring for children with disabilities. We are encouraged by companies like EY, which are leading the way with benefits that support the entire family—from childcare and tutoring to mental health coaching. These initiatives are essential for empowering parents, particularly mothers, to thrive both at work and at home. It’s time we ensure that all parents have the resources they need to succeed. Thank you, EY, for going above and beyond in supporting your employees, and a big thank you to Employee Benefit News for highlighting Juno in this article. 

September is Childhood Cancer Awareness Month, a time to reflect on the profound challenges families face when a child is diagnosed with cancer. In 2024, an estimated 14,910 children and adolescents will be diagnosed with cancer in the U.S. The emotional toll is immense, but the financial impact can be devastating. Treatments for common cancers, such as leukemia, brain tumors, and lymphomas, often lead to high medical expenses and lost income as parents reduce or leave work to care for their child. The average out-of-pocket cost for pediatric cancer treatment is $35,000 over the course of the pediatric cancer treatment, and 30-50% of families report that one parent leaves the workforce, leading to income loss greater than 40%. Tragically, 15% of families fall below the poverty line due to the financial burden, which can last long after treatment ends. Child disability insurance offers essential financial support, helping families stay in the workforce or replace lost income while caring for their children. At Juno, we're committed to supporting the next million families, ensuring they have the stability to focus on what matters most: their child’s care.

Launched in spring 2024, Juno offers employer-sponsored coverage for parents whose children have a severe illness, injury, or disability. Q&A with Hall Kesmodel, Managing Director, Juno Insurance Group #qanda #insurance #disability #risk https://lnkd.in/g8EqS4uQ

In the U.S., 63 million parents and countless non-parent caregivers face immense pressure as they juggle financial stress, time demands, and concerns for their children's well-being. Child care costs have surged by 26% in the last decade, leaving 66% of parents overwhelmed by money worries. For many, this stress leads to difficult choices, with one in four parents struggling to afford basic needs like food and rent. The challenges are even greater for those caring for children with special needs, who must navigate complex systems, learn specialized caregiving skills, and manage financial pressures. Nearly 1 in 5 children in the U.S. have special health care needs, requiring additional support. For these caregivers, financial relief isn't just helpful—it's essential. It can ease the burden, provide access to necessary care, and allow them to focus on what truly matters: their children. This is why we created Juno child disability insurance. Juno is a first-of-its-kind employee benefit that provides life-changing financial support (up to $1m in cash per family) and personalized guidance if a child becomes severely ill, injured, or disabled. This benefit can be employer paid or in some cases, employee paid. If you are interested in learning more, please visit our website or send us a message.

Our very own Hall Kesmodel recently participated in a discussion with Tammy Worth from Leaders Edge on the topic of child disability insurance, where they addressed frequently asked questions from brokers and employers. Take a look! ⬇️

Millennials are now one of the largest groups of caregivers, often balancing demanding careers with the significant responsibilities of caring for a loved one. However, many are not financially prepared for the possibility of their child experiencing a severe illness, injury, or disability. This lack of preparedness can lead to immense stress, as these young caregivers struggle to manage work, caregiving, and financial stability. Having financial support to help care for a child with a disability can make a profound difference, alleviating some of the overwhelming pressures and allowing caregivers to focus on providing the best possible care for their children. Employers want to keep their employees in the workforce, maintain productivity, and ensure that employees feel supported in times of need. While family planning benefits typically focus on forming a family, child disability coverage now helps protect families from birth through young adulthood (age 26). Our workforce is changing, and it's time we step up to meet their needs. Let’s make sure we’re giving caregivers the support they need to succeed at work and at home.

Caregivers are the backbone of our society. Every day, millions of caregivers balance full-time jobs with the immense responsibility of caring for their loved ones. Whether caring for children, aging family members, or individuals with disabilities, these unsung heroes dedicate an average of 45 hours per week to unpaid care. Yet, their contributions often go unrecognized, leading to significant financial strain—especially for women, who make up 57% of caregivers and an astounding 92% of caregivers of a child with a rare disease. But this isn't just a personal family issue—it's a macroeconomic one. The cost of caregiving impacts businesses to the tune of over $1 trillion in employee turnover and productivity annually. The need for support is clear, and the solution lies in our hands. And there’s more. Parents of children with severe illnesses or disabilities face even greater challenges, with an even more disproportionate impact on women and minorities. That’s why we created Child Disability Insurance—to provide financial support when families need it most. Parents should have the chance to feel like their families are cared for, especially when the unexpected happens, and while employers have long offered disability and life insurance for employees, working parents have long been overlooked when it comes to addressing their children’s needs, leaving a significant gap in support. This changes now.

Benefits advisors have a key opportunity to support employers in addressing caregiving challenges, particularly with open enrollment approaching. Think about it - 3 in 4 workers are trying to balance caregiving with their jobs. That's a lot of stressed-out employees. As open enrollment approaches, leading employers are going beyond the basics and offer meaningful benefits that make a real difference. Consider adding options like child disability coverage, which provides financial support and helps keep parents in the workforce. Rather than sending the usual generic emails, share powerful stories from employees who have directly benefited from these offerings. This not only demonstrates genuine care but also underscores the tangible, positive impact these benefits have on both employees and the organization. The numbers back this up - when you support caregivers, people stay longer, work harder, and feel more connected to the company. It's good for everyone. Brokers - reach out to us if you’d like to learn more about Juno!