Caregiving years often align with prime earning years, and a lack of resources from employers or the government can make that period a financial nightmare. (iStock/The Minnesota Star Tribune)

A sign of our demographic times: The number of U.S. workers providing care to older adults (almost 23 million) is greater than the number taking care of preschool children (21 million).

That’s according to the Harvard Business Review article “Your Company Needs an Eldercare Policy,” by aging experts Ken Dychtwald, Terry Fulmer, Robert Morison and Katy Terveer.

The Bureau of Labor Statistics calculates that nearly half of all elder caregivers are between the ages of 45 to 64. These are the years when employees earn the most, wages that boost future Social Security benefits and retirement savings. Yet because of caregiving responsibilities, employees often turn down promotions, shift to part-time work and take other actions that jeopardize their long-term financial security.

Care for older adults typically means assisting with everyday tasks, like bathing, dressing, cooking meals and light housekeeping. Unlike other wealthy nations, the U.S. hasn’t built a national care system. For instance, long-term care insurance is mandatory in Japan for citizens 40 years and older. The Netherlands includes long-term care in its national health care system.

Medicare doesn’t cover most long-term care expenses. Medicaid is the public option, but qualifying requires impoverishment. Professional caregivers are invaluable, but the cost of paid caregiving is out of reach for many families. The same holds for long-term care insurance premiums.

The U.S. relies on families to step into the breach, unpaid. The Harvard Business Review authors rightly responded to the current reality by calling for employers to aggressively expand their caregiving benefits.

“Child care support has become essential to employee productivity, retention, engagement and wellbeing,” they wrote. “The massive demographic shift that we are now living through makes elder care support just as essential to talent strategy and organizational performance.”

Meanwhile, most employees should anticipate they will need to take care of aging loved ones at some point. Plan ahead. Learn about employer benefits (if your employer offers caregiving help).

Scenario planning is also useful. The best-case scenario might be that your elder care needs are modest and don’t take much time from work and other obligations. Another scenario would include the need for more expensive and time-consuming care. What household budget and workplace adjustments might you take under those circumstances? And so on.

There’s no gainsaying the emotional impact that comes with taking care of older loved ones. However, the combination of planning ahead and thinking through potential decisions when the caregiving moment arrives can minimize the effect on household budgets and careers.

Chris Farrell is senior economics contributor for “Marketplace” and a commentator for Minnesota Public Radio.