Killing medical tax break will hammer middle-class seniors

Republican lawmakers want to cut taxes for corporations and wealthy people by $1.3 trillion – and they seem to want seniors to foot a good chunk of the bill. Their 2018 budget plan would chop $473 billion out of Medicare and $1.3 trillion from Medicaid. But the House tax plan also calls for elimination of […]

Assessing the risk of needing long-term care

How substantial is the risk that you will will need long-term care in a nursing home setting? You’ll see numbers all over the map; federal government data, for example, shows that a 65-year-old person runs a 35 percent risk of entering a nursing facility sometime in their lifetime. Other reports have suggested the risk is […]

The future of caregiving: High demand, scarce workers

If you are hovering around retirement age today, you will be closing in on your eighties in the year 2030. With any luck, you will be healthy and mobile – but imagine for a moment that you are not. Let’s say a debilitating illness requires that you receive care in a nursing home. It is […]

How Senate health reform bill would decimate long-term care coverage

When Americans think about retirement planning, long-term care usually is a major blind spot – few of us want to contemplate the possibility of infirmity and dependency in old age. But we would do well to think about it now, as the Senate Republicans take a holiday weekend pause in their push to dismantle the […]

Grading Obama’s performance on retirement and aging issues

In his farewell address last week, President Barack Obama quoted something his mother used to tell him: “Reality has a way of catching up with you.” Here is one reality that really is catching up with us: as a nation, we are getting older quickly. The U.S. population over age 65 will nearly double by […]

Retirement: The Other Economic Gender Gap

The gender pay gap is a hot topic these days, but it’s not the only economic gender gap. Women also are lagging behind men in building retirement security. Lower pay translates into a gap for women in retirement security, reducing Social Security benefits, pensions, and retirement saving. At the same time, women enjoy greater longevity, […]

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Fresh approaches to paying for long-term care

Long-term care is a wild card in the deck for any retirement plan. Half of all Americans develop a disability at age 65 or older that is serious enough to need long-term care, and one in six will spend at least $100,000 out of pocket for care, federal data shows. The financial risk is real, […]

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Bipartisan solutions on long-term care come into view

Ask Americans what they fear most about aging, and many will tell you it is the possibility of needing nursing care – and not being able to pay for it. They are right to worry. Federal data shows that about half the people who turn 65 today will not have any need for long-term care. […]

Fed rate hike: Start of something good for retirees?

The interest rate hike announced today by the Federal Reserve is a major milestone for retirees, who have been caught between a rock and hard place ever since the Great Recession, with zero interest rates and higher-than-average inflation. The Fed’s quarter-point hike in the benchmark federal funds rate is the first in nearly a decade, […]

New findings on long-term care policy lapse rates raise questions

Long-term care insurance really is long term: buying a policy commits you to pay premiums over decades. If you stop those payments, thousands of dollars you have already spent might as well have gone down the drain. A new study suggests that is exactly what a sizeable number of policyholders are doing – allowing their […]