A great misconception of aging in America is the belief that Medicare will pay for your health care needs in old age. It won’t. It will pay for some of those medical costs. But a typical senior can expect to foot the bill for a substantial portion of their health care, even if they are enrolled in Medicare. Half of [...]
The influential National Academies of Sciences, Engineering and Medicine (NAS) has called for a major initiative to better integrate heath care and social supports. The group, formerly known as the Institute of Medicine, has published a white paper on the subject that should encourage both policymakers and medical practitioners to pay more attention to the importance of social supports to [...]
You probably have heard the statistic: One-quarter of Medicare spending is for patients in the last year of life. It is cited as a major reason for excessive medical spending in the US and leads to a widely-accepted conclusion: If only we would stop “wasting” dollars on futile care for those who soon will die anyway, we could significantly slow [...]
We spend more on our health care as we age. No news there. But you may be surprised to learn that all health spending is not created equal. For most of us, as long as we can stay out of the hospital or a nursing home, our costs are relatively modest--and steady--even as we grow older. But that can change [...]
Baby Boomers are in serious denial when it comes to their medical and long-term care costs in retirement. Yes, Medicare provides excellent health insurance (subsidized in large part by taxpayers). But it doesn’t come close to paying for a senior’s medical costs. And doesn’t pay for long-term supports and services at all. Those holes in the Medicare system mean a [...]