Many of the roughly 10-14 million middle-income older adults in the US are attracted to senior living communities and are prime candidates to move. And collectively they have hundreds of billions of dollars to spend. But they don’t relocate because they can’t afford it. The vast majority of these developments—whether stand-alone independent living or continuing care communities (known as CCRCs) [...]
Long-term care costs are rising even as families struggle to keep up with increases in their ordinary living expenses, making it tougher than ever to save for personal care needs in old age. That combination is raising interest in public long-term care insurance. But what would a public program cost? It all depends on the design, but we are learning [...]
In recent weeks, two bipartisan groups of lawmakers—one in the Senate and one in the House—proposed commissions aimed at addressing the impending insolvency of the Social Security Trust Fund. Both deserve credit for proposing something, since most of their colleagues are silent on Social Security reform. But unless carefully designed, these groups are more often excuses for inaction than prods [...]
Despite the potential value of new blood tests promoters say can identify Alzheimer’s disease long before symptoms arise, these tests raise many important issues that patients and their physicians should carefully consider before requesting or administering them. Because of those concerns, medical thought leaders are offering important guidance about how their colleagues should talk to their patients about the tests [...]
The Department of Justice’s decision to stop protecting the right of people with disabilities to remain in their homes will make it easier for states to slash home care benefits in response to deep federally-mandated cuts in Medicaid funding. The decision, effectively a federal get-out-of-jail-free card for states, will harm many vulnerable people, including older adults. The DOJ said it [...]
Participants in a relatively small program that fully integrates medical care with a broad range of personal care and other services were less likely to need to visit emergency departments, be hospitalized, or even to die during the study period, compared to similar patients enrolled in Medicare Advantage plans. The report, done by the consulting firm RTI International for the [...]
President Trump’s two biggest health care initiatives, aggressive efforts to roll back the 2010 Affordable Care Act and deep cuts to Medicaid, could strip insurance from as many as 3 million people aged 50-64. The biggest losers of all: Middle-aged people with disabilities. ACA Cuts Start with the ACA. Because the Republican Congress, at the urging of the White House, [...]
Ask nearly any financial economist and they’ll tell you retirees ought to have at least some of their savings in a life annuity—a financial product that provides a steady source of guaranteed income over the buyer’s lifetime. Consumers also say they like the idea. But here’s the weird thing: Almost nobody buys life annuities. Even people who do purchase annuities [...]
The Social Security trustees have estimated the nation’s retirement trust fund will become insolvent in just 6 years, during the term of the next president. If nothing changes, that means recipients would see their promised benefits cut by 22% across the board. Of course, something will change. Nobody in Congress or the White House wants to take the heat for [...]
The Centers for Medicare and Medicaid Services’ long-awaited rule implementing the Medicaid work requirements Congress passed last summer will make it much tougher for people with disabilities to qualify for benefits. But the rules provide some surprising flexibility for low-income family caregivers who are at risk of losing their own benefits if they must reduce work hours to care for [...]