New CRR Brief has been Released

The Center for Retirement Research at Boston College has released a new Issue in Brief:
Does Medicare Part D Protect the Elderly from Financial Risk?”
By Gary V. Engelhardt and Jonathan Gruber

The brief’s key findings are:
  • The Medicare Part D prescription drug program covers a large percentage of the elderly and their prescription costs.
  • Strikingly, as of 2007, about 70 percent of the program’s enrollees already had drug coverage before joining Part D.
  • Similarly, about 75 percent of Part D spending substituted for spending by private insurance or individuals.
  • A full assessment of Part D’s overall social impact requires further research.
The brief is available here.

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As America Ages 2011 Spring Conference was Huge Sucsess

As America Ages Initiative’s first-ever conference on aging advocacy, outreach and policy in Southern New England not only had a great showing, but also included great dialogue between academia and the public and private sectors through several panel and roundtable discussions.  Sponsored by Fidelity Investments, the event included keynote addresses from U.S. Senator Sheldon Whitehouse and Rhode Island Lieutenant Governor Elizabeth Roberts.  The conference opened with a welcome by Marion Orr, Director of the Taubman Center for Public Policy at Brown University; Stephen Gresham, Senior Vice President for Fidelity Investments; and Jennifer Slattery-Bownds, Director of Graduate Study also from the Taubman Center for Public Policy at Brown University.

Experts from Washington D.C., the State of Rhode Island and the private industry covered topics ranging from state and federal policies that affect our aging population, affordability, financial planning, advocacy and outreach.  The open format offered a great platform for exploring topics for further discussion. Among these include the possibility of a Rhode Island model that offers a holistic approach to aging, incentives for financially efficient decisions regarding health care, using immigration to increase the size of our shrinking workforce, customized retirement, incentives for innovation and the use of technology both in terms of preventative care and for financial planning.

This event not only illustrated the interest in aging issues among various key sectors, but it also revealed that additional discussion is  necessary to better meet the needs of our aging population and those who care for them.

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New CRR Papers:

The Center for Retirement Research at Boston College has released seven new working papers:
Why Aren’t More Families Buying Life Insurance?
by Matthew S. Chambers, Don E. Schlagenhauf, and Eric R. Young
by Alicia H. Munnell, Anthony Webb, Zhenya Karamcheva, and Andrew Eschtruth

Please send any questions or comments to crr@bc.edu.

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Nursing home boom in China has Little Government Involvement

A new study of the growth and operation of nursing homes in Chinese cities finds that the industry, while still small, is surging to meet the country’s overwhelming shift toward an older population. The almost entirely private-sector growth has far outpaced government oversight.

Check it out here: https://blogs.brown.edu/as-america-ages/wp-admin/post-new.php

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In a Graying Population, Business Opportunity

An article in the NYT discusses the “aging suit” and describes the latest trends in private sector focused aging research.

Check it out at: In a Graying Population, Business Opportunity

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CRFB Announces “Voices of America” Video Contest Tell Washington Budget Experts How to Fix Our Fiscal House January 19, 2011

Some of those interested in aging policy might be interested in entering the video contest linked below.  Check out the release from CFRB to and check out their website for more info if your interested.

The Committee for a Responsible Federal Budget’s (CRFB) Fiscal Roadmap Project is pleased to announce the launch of the “Voices of America” video contest for people across the country to tell the budget experts in Washington, DC their ideas on ways to fix America’s fiscal house.

The contest was created to broaden the national conversation over our national debt problem. The debt of the United States government just topped $14 trillion, and as a share of the economy, it is at its highest point since just after World War II. Going forward, if our budget policies are not changed, our debt will soar as the gap between what the government spends and the taxes it collects continues to widen.

Despite growing concern among Americans that we must tackle our fiscal challenges, there is a real risk that nothing will be done because our lawmakers may not be able to agree on how to move forward.

So we would like to hear from you. CRFB urges you to submit a video on your view of America’s fiscal crisis and how you would fix it. Talk to your family. Talk to your neighbors. Talk to your friends. And tell us what you find.
The video contest begins today and will close on February 21 at midnight.

The top 2 winners will receive $1,000 each, their videos will be shown at a March budget expert event in Washington DC, and their videos will be featured on the CRFB website. The top 10 videos (including the top 2 winners) will be posted on the CRFB contest website.

To learn more about the contest, judging criteria, rules, and submission information, visit the contest website at http://crfb.org/voices-america- video-contest.

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The Center for Retirement Research at Boston College has released a new Issue in Brief:

Responding to the Downturn: How Does Information Change Behavior?
by Norma B. Coe and Kelly Haverstick
The brief’s key findings are:
  • Over 40 percent of respondents to a 2009 CRR survey planned no response to the financial crisis.
  • But after it was made clear that their only options are to save more, work longer, or spend less in retirement, most opted to alter saving or work plans.
  • Those who changed had greater needs in retirement, a history of high saving, and/or had not thought a lot about the downturn.
The brief is available here.

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Should Seniors Be Screened To Remove Unsafe Vehicle Operators?

Check out this interesting article about retesting senior drivers to improve safety on the roads.  This is already practiced in the UK where seniors (over 60) are given free public transportation (BBC Article) .

Testing Would Cut Elderly Driving Danger

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The Center for Retirement Research at Boston College has released seven new working papers:

Effect of Informal Care on Work, Wages, and Wealth
by Courtney Harold Van Houtven, Norma B. Coe, and Meghan Skira
by Barry Bosworth and Gary Burtless
by Norma B. Coe and Kelly Haverstick
by Steven A. Sass and Anthony Webb
by Perry Singleton
by Andrew G. Biggs, Gayle L. Reznik, and Nada O. Eissa
by Irena Dushi, Leora Friedberg, and Anthony Webb

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New CRR Brief is Out!! If you read AAA you should be signing up for these (see links on sidebar)!

The Center for Retirement Research at Boston College has released a new Issue in Brief:

How Will Higher Tax Rates Affect the National Retirement Risk Index?”
by Alicia H. Munnell, Anthony Webb, and Francesca Golub-Sass
The brief’s key findings are:
  • Increased taxes and spending cuts will be needed to bring the federal budget under control.
  • Relying heavily on tax increases would modestly raise the overall NRRI (the percent of households ‘at risk’ in retirement) from 51 to 54 percent.
  • But the NRRI would jump sharply for high-income Early Boomers, who face sharply higher income taxes and have little time to adjust.
  • And while Gen Xers would see little change in their ‘at risk’ status, higher taxes would reduce their consumption both before and after retirement.
The brief is available here.

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