Friday, March 29, 2019
Two recent stories from the Wall Street Journal on a recent failure of an Alzheimer's drug in testing made me pause. Latest Experimental Alzheimer’s Drug Fails Testing. Drugmakers Biogen and Eisai ended studies of treatment, deeming it unlikely to benefit patients in latest research setback ("[t]he search for new Alzheimer’s disease treatments hit another big setback on Thursday when drugmakers Biogen Inc. and Eisai Co. said they would terminate two late-stage studies of an experimental drug after determining it would likely fail to help patients") and Where Alzheimer’s Research Is Pushing Ahead. Disappointing results for drugs targeting Beta amyloid buildup in the brain has renewed focus on drugs that act in other ways ("[t]he failure last week of Biogen Inc. and Eisai Co.’s once-promising Alzheimer’s disease drug was the latest in a spate of disappointments for medicines designed to target Beta amyloid, a sticky substance long known to accumulate in the brains of people with the disease...The repeated failure of such drugs are giving greater currency to efforts by academics and smaller biotech companies to better understand the biology of Alzheimer's ....) (subscription required to read both articles) certainly wasn't the headlines we hope for. Then this article in Time Magazine caught my eye. What the End of a Promising Alzheimer’s Drug Trial Means for One Patient in the Study describes this "failure is the latest in a string of let-downs involving drugs that target amyloid, leading experts to question whether future treatment strategies should focus so heavily on amyloid plaques. Therapies that target some of the other proteins involved in the disease are ongoing, but until recently, the predominance of amyloid in the brains of people affected by Alzheimer’s has led drugmakers to focus on that protein in particular." The article also summaries different tactics that researchers are considering next, so at least there's still hope. Stay tuned.
Thursday, March 28, 2019
The GAO has issued a new report, Retirement Security: Most Households Approaching Retirement Have Low Savings, an Update. The report, an update from the 2015 report, is 4 pages long and available here as a pdf. The update incorporates "estimates on the percentage of households aged 55 and over with selected financial resources." Here are the fast facts from this update
The 2015 report on retirement security included estimates on the percentage of households aged 55 and over without retirement savings or a defined benefit plan (traditional employment-based pension plans that offer benefits based on factors like salary and years of service)... We updated these estimates using data from the most recent Survey of Consumer Finances, which was released in September 2017... We found that the percent of households headed by someone aged 55 and over that had no retirement savings decreased from about 52 percent in 2013 to about 48 percent in 2016.
Wednesday, March 20, 2019
The Atlanta Journal Constitution reported last week that the Rate of dementia deaths in US has more than doubled, CDC says from the new report for the National Center for Health Statistics.
Here is the abstract from the 29 page report from the National Center for Health Statistics:
Objectives—This report presents data on mortality attributable to dementia. Data for dementia as an underlying cause of death from 2000 through 2017 are shown by selected characteristics such as age, sex, race and Hispanic origin, and state of residence. Trends in dementia deaths overall and by specific cause are presented. The reporting of dementia as a contributing cause of death is also described.
Methods—Data in this report are based on information from all death certificates filed in the 50 states and the District of Columbia. Using multiple cause-of-death data files, dementia is considered to include deaths attributed to unspecified dementia; Alzheimer disease; vascular dementia; and other degenerative diseases of nervous system, not elsewhere classified.
Results—In 2017, a total of 261,914 deaths attributable to dementia as an underlying cause of death were reported in the United States. Forty-six percent of these deaths were due to Alzheimer disease. In 2017, the age-adjusted death rate for dementia as an underlying cause of death was 66.7 deaths per 100,000 U.S. standard population. Age-adjusted death rates were higher for females (72.7) than for males (56.4). Death rates increased with age from 56.9 deaths per 100,000 among people aged 65–74 to 2,707.3 deaths per 100,000 among people aged 85 and over. Age-adjusted death rates were higher among the non-Hispanic white population (70.8) compared with the non-Hispanic black population (65.0) and the Hispanic population (46.0). Age-adjusted death rates for dementia varied by state and urbanization category. Overall, age-adjusted death rates for dementia increased from 2000 to 2017. Rates were steady from 2013 through 2016, and increased from 2016 to 2017. Patterns of reporting the individual dementia causes varied across states and across time.
Conclusions—Death rates due to dementia varied by age, sex, race and Hispanic origin, and state. In 2017, Alzheimer disease accounted for almost one-half of all dementia deaths. The proportion of dementia deaths attributed to Alzheimer disease varies across states.
Tuesday, March 19, 2019
Kaiser Health News ran a story last week on how to push back vs. loneliness in older adults. Understanding Loneliness In Older Adults — And Tailoring A Solution doesn't mean telling folks to get a hobby. Instead, the idea of fighting loneliness is making connections with others, living a purpose-filled life, and having important social roles. Loneliness among elders has been found to be connected to many issues. "Four surveys (by Cigna, AARP, the Kaiser Family Foundation and the University of Michigan) have examined the extent of loneliness and social isolation in older adults in the past year. And health insurers, health care systems, senior housing operators and social service agencies are launching or expanding initiatives." Not everyone will respond well to one solution, so it's important that programs offer alternatives.
Interestingly, the story describes two categories of loneliness, what might be called short-term and long-term loneliness. "The headlines are alarming: Between 33 and 43 percent of older Americans are lonely, they proclaim. But those figures combine two groups: people who are sometimes lonely and those who are always lonely... The distinction matters because people who are sometimes lonely don’t necessarily stay that way; they can move in and out of this state. And the potential health impact of loneliness — a higher risk of heart disease, dementia, immune dysfunction, functional impairment and early death — depends on its severity."
The article not only explores the length of loneliness but the depth and types of it as well. "According to a well-established framework, “emotional loneliness” occurs when someone feels the lack of intimate relationships. “Social loneliness” is the lack of satisfying contact with family members, friends, neighbors or other community members. “Collective loneliness” is the feeling of not being valued by the broader community. .. Some experts add another category: “existential loneliness,” or the sense that life lacks meaning or purpose."
A program that might effectively combat loneliness has to look at the causes of it. Those include the sense that people don't care about you, disappointing relationships, for example. Some types of loneliness might have an easier fix. The article offers the example of "[s]omeone who’s lost a sense of being meaningfully connected to other people because of hearing loss — the most common type of disability among older adults — can be encouraged to use a hearing aid. Someone who can’t drive anymore and has stopped getting out of the house can get assistance with transportation. Or someone who’s lost a sibling or a spouse can be directed to a bereavement program."
The article is very interesting and brings depth to a very important topic.
Friday, March 15, 2019
AARP's Livable Communities newsletter had 2 articles of interest regarding housing and elders. The first, Rethinking Student Housing focuses on several projects along the lines of an artist-in-residence program, where music students get free housing in an elder housing community in return for performances as well as "helping with errands and socializing with ... neighbors." The second article, Rethinking What Makes a Great Roommate, focuses on a project that melds two issues: lack of affordable housing and elders who want to stay in their homes but need income. This project, "Nesterly, a website that connects older people who have rooms to spare with young and lower income people seeking medium-term affordable housing. "Homeshare with another generation: The easy, safe way to rent a room," states the site's homepage. " There is a small fee to use the service, which checks out the potential renters. The two parties come to agreement on the terms and price.
Two very creative ideas!
Wednesday, March 13, 2019
The Consumer Financial Protection Bureau (CFPB) released a new report at the end of February, Suspicious Activity Reports on Elder Financial Exploitation: Issues and Trends.
Here is a summary of the report
Since 2013, financial institutions have reported to the federal government over 180,000 suspicious activities targeting older adults, involving a total of more than $6 billion. The reports provide unique data on these suspicious activities, which can enhance ongoing efforts to prevent elder financial exploitation and to punish wrongdoers.
This report presents the findings of a study of elder financial exploitation Suspicious Activity Reports (EFE SARs) filed with the federal government by financial institutions such as banks and money services businesses between 2013 and 2017. This is the first public analysis of EFE SAR filings since the Financial Crimes Enforcement Network (FinCEN), which receives and maintains the database of SARs, introduced electronic SAR filing with a designated category for “elder financial exploitation” in 2013. The findings provide an opportunity to better understand the complex problem of elder financial exploitation and to identify ways to improve prevention and response.
The full report is available here.
The key findings of the report provide some sobering data:
•SAR filings on elder financial exploitation quadrupled from 2013 to 2017. In 2017, elder financial exploitation (EFE) SARs totaled 63,500. Based on recent prevalence studies, these 2017 SARs likely represent a tiny fraction of actual incidents of elder financial exploitation.
•Money services businesses have filed an increasing share of EFE SARs.In 2016, money services business (MSB) filings surpassed depository institution (DI) filings. In 2017, MSB SARs comprised 58 percent of EFE SARs, compared to 15 percent in 2013.
•Financial institutions reported a total of $1.7 billion in suspicious activities in 2017, including actual losses and attempts to steal the older adults’ funds
•Nearly 80 percent of EFE SARs involved a monetary loss to older adults and/or filers (i.e. financial institutions).
•In EFE SARs involving a loss to an older adult, the average amount lost was $34,200. In 7 percent of these EFE SARs, the loss exceeded $100,000.
•When a filer lost money, the average loss per filer was $16,700.
•One third of the individuals who lost money were ages 80 and older.
•Adults ages 70 to 79 had the highest average monetary loss ($45,300).
•Losses were greater when the older adult knew the suspect. The average loss per person was about $50,000 when the older adult knew the suspect and $17,000 when the suspect was a stranger.
•Types of suspicious activity varied significantly by filer.When the filer was an MSB, 69 percent of EFE SARs described scams by strangers. DI filings, in contrast, involved an array of financial crimes, with 27 percent involving stranger scams.
•More than half of EFE SARs involved a money transfer. The second-most common financial product used to move funds was a checking or savings account (44 percent).
•Checking or savings accounts had the highest monetary losses. The average monetary loss to the older adult was $48,300 for EFE SARs involving a checking or savings account while the average loss was $32,800 for EFE SARs involving a money transfer.
•The suspicious activity reported in an EFE SAR took place, on average, over a four-month period.
•Fewer than one-third of EFE SARs indicated that the filer reported the suspicious activity to a local, state, or federal authority. Only one percent of MSB SARs stated that the MSB reported the suspicious activity in the SAR to a government entity such as adult protective services or law enforcement.
Read the entire report. The information is important.
Thanks to Julie Childs from the DOJ Elder Justice Initiative for alerting me to this new report.
Monday, March 11, 2019
On March 7, 2019, U.S. DOJ announced the biggest U.S. elder fraud sweep. Justice Department Coordinates Largest-Ever Nationwide Elder Fraud Sweep. Attorney General Focuses on Threats Posed by Technical-Support Fraud offers a look at the staggering amount of elder fraud.
The cases during this sweep involved more than 260 defendants from around the globe who victimized more than two million Americans, most of them elderly. [DOJ] took action in every federal district across the country, through the filing of criminal or civil cases or through consumer education efforts. In each case, offenders allegedly engaged in financial schemes that targeted or largely affected seniors. In total, the charged elder fraud schemes caused alleged losses of millions of more dollars than last year, putting the total alleged losses at this year’s sweep at over three fourths of one billion dollars.
Want to see the results of the sweep in your state? Click here.
The sweep included tech support fraud, mass mailing fraud and money mules. Consumer education was also part of the effort,
[DOJ] and its law enforcement partners focused the sweep’s public education campaign on technical-support fraud, given the widespread harm such schemes are causing. The FTC and State Attorneys General had an important role in designing and disseminating messaging material intended to warn consumers and businesses.
Public education outreach is being conducted by various state and federal agencies, including Senior Corps, a national service program administered by the federal agency the Corporation for National and Community Service, to educate seniors and prevent further victimization. The Senior Corps program engages more than 245,000 older adults in intensive service each year, who in turn, serve more than 840,000 additional seniors, including 332,000 veterans. Information on Senior Corps’ efforts to reduce elder fraud can be found here.
Thanks to my colleague, Professor Podgor, for alerting me to the press releases.
Tuesday, March 5, 2019
Forbes is reporting on a story first appearing on CNN, where the Former Aetna Medical Director Admits To Never Reviewing Medical Records Before Denying Care.
"This admission was made during a deposition in a lawsuit brought against Aetna by [a patient]... with common variable immune deficiency (CVID) who was denied coverage for an infusion of intravenous immunoglobulin (IVIG) four years ago." The former medical director testified that the process was for nurses to review records and then make recommendations to him. Additionally, "when asked by Washington's attorney if it was his general practice to look at medical records as part of his decision making process, he replied that it was not."
Thanks to Julie Kitzmiller for alerting me to the story.
Monday, March 4, 2019
The Law Library Journal has published a comprehensive bibliography on Physician-Aided Dying. Physician-Assisted Death: A Selected Annotated Bibliography, prepared by Alyssa Thurston, who is head of Reference Services at Pepperdine University School of Law Library in Malibu, Calif., provides a comprehensive update on this important topic.
Here is the abstract of the paper. "Physician-assisted death (PAD), which encompasses physician-assisted suicide and physician-administered euthanasia, has long been controversial. However, recent years have seen a trend toward legalizing some form of PAD in the United States and abroad. The author provides an annotated bibliography of sources concerning PAD and the many issues raised by its legalization."
The introduction offers some helpful information for the reader:
¶3 This bibliography compiles selected secondary and primary materials on
PAD. Secondary sources include books, book chapters, law review and law journal
articles, bibliographies, websites, and current awareness materials, and are mostly
limited to publication dates of 2007–2018.10 Many of these materials discuss multiple
issues within the broader topic of PAD, and I have categorized them by subject
based on what I perceive to be their primary themes.
¶4 Most of the included materials focus on the United States, but a number of
sources also discuss other countries, and one section is devoted to international
experiences with PAD. In addition, PAD is often debated alongside other end-oflife
topics, such as withdrawal or refusal of medical treatment,11 palliative care,12
hospice care,13 or the use of advance directives,14 and some of the scholarship listed
in this bibliography concurrently address one or more of these subjects in depth.
Thanks to my colleague, Professor Brooke Bowman, for alerting me to this helpful resource!
Thursday, February 28, 2019
With the recent death of Karl Lagerfeld who is survived by his famous cat, Choupette, it is timely to think about pet trusts as part of estate planning. The story was covered by many news outlets. Here is info about the one that ran in CBS News, Karl Lagerfeld's cat to inherit a fortune, but may not be richest pet.
Choupette, a Burmese cat, stands to inherit a chunk of the designer'sestimated $300 million net worth, after he wrote her into his will in 2015, according to Le Figaro. Lagerfeld confirmed in an interview with Numéro last year that she, among others, would be an heiress to his vast fortune. "Don't worry, there is enough for everyone," he said. Among Choupette's most admired traits? "She doesn't talk," Lagerfeld told Numero in an earlier interview... Though Lagerfeld is German, the pair resided in France, where the law prohibits pets from inheriting their owners' wealth. German law, however, allows one's wealth to be transferred to an animal.
In the U.S., as the article notes, pet trusts are recognized but there may be limits on the amount, referencing the case of Leona Helmsely's dog, Trouble.
Monday, February 25, 2019
The 2019 Oscars are behind us. Prior to the awards being announced, there was some attention given to the potential for recipients breaking the "age ceiling." The NYC Elder Abuse Center published this blog post, 2019 Oscar Watch: Actors Set to Break the Silver Ceiling. Noting the issues of ageism and the ability of computers to make folks look years younger, the post references a recent study showing lack of progress on inclusivity in film. "While adults 50 and older make up more than 30 percent of all moviegoers, the study found less than one-third of the highest-grossing films of 2017 featured a male 45 years of age or older at the time of theatrical release. Only five films featured a woman in the same age bracket, including Meryl Streep, Amy Poehler, Judi Dench, Halle Berry, and Frances McDormand." The blog post lists various nominees who are older, and also points out that the documentary about Justice Ginsburg is also up for an award.
Wednesday, February 20, 2019
Recently the New York Times ran an opinion piece about the amount of debt from social programs. Your Grandchildren Are Already in Debt focuses on some of the new social programs being proposed by presidential candidates. But how will we pay for these programs, as well as existing programs? "On present course and speed, the United States is on track to experience the highest deficits in its history, reaching more than $2 trillion a year by 2029. Those annual gaps are projected to bring America’s total debt to nearly $33 trillion by that date, according to the Committee for a Responsible Budget. That’s double today’s level and more than the size of our economy, a peacetime record."
Here are some thoughts from the author about the situation and its impact
[M]y principal fear is that all this irresponsible borrowing amounts to intergenerational theft. America is simultaneously indulging in two deficit-busting desires: for lower taxes and for robust government programs. Eventually, the interest on all the debt will force the governments of future generations to reverse those fiscally imprudent policies in order to pay for today’s profligacy.
It’s like a couple in their 40s deciding to borrow money to sustain a lavish lifestyle and then leaving the debts for their kids to pay off after they’re gone.
But that’s not all. The generally accepted measure of America’s national debt doesn’t include obligations for future retirement and health care benefits.
Tuesday, February 19, 2019
Kaiser Health News ran a story recently, Seniors Aging In Place Turn To Devices And Helpers, But Unmet Needs Are Common details the use of caregivers and assistive devices to help them age in place. Reporting on a new study, the article notes that there are a substantial majority of elders with insufficient help and adapt their living in order to get by. The study, published in the Commonwealth Fund, Are Older Americans Getting the Long-Term Services and Supports They Need? explains this issue "[o]lder adults’ needs have evolved and are no longer met by the Medicare program. With the recent passage of the Bipartisan Budget Act of 2018 (BBA), Medicare Advantage (MA) plans can now provide beneficiaries with nonmedical benefits, such as long-term services and supports (LTSS), which Medicare does not cover."
The key findings and the conclusion from the study abstract show:
Two-thirds of older adults living in the community use some degree of LTSS. Reliance on assistive devices and environmental modifications is high; however many adults, particularly dual-eligible beneficiaries, experience adverse consequences of not receiving care. Although the recent policy change allowing MA plans to offer LTSS benefits is an important step toward meeting the medical and nonmedical needs of Medicare beneficiaries, only the one-third of Medicare beneficiaries enrolled in MA plans stand to benefit. Accountable care organizations operating in traditional Medicare also should have the increased flexibility to provide nonmedical services. from the study.
Wednesday, February 6, 2019
AARP's research has an update on tech use among older adults. Older Americans’ Technology Usage Keeps Climbing shows adoption of technology by a fair number of older adults. "Today, 91 percent of those age 50+ report using a computer and 94 percent say technology helps them keep in touch with friends and family. And notably, the assumption that older individuals rely less on technology than others may be increasingly inaccurate. More than 80 percent of Americans age 50 to 64 have smartphones, which is about the same as the population at large. Grandparents are also spending a considerable amount on gifts — many likely tech-focused — for their grandkids." Perhaps, unsurprisingly, is the interest in technology's impact on cars and driving with almost 25% keen on "advanced driver assistance technology." As well, about 25% of those surveyed were atrracted to online learning.
One important note from the survey: lack of confidence in security. and privacy online. "Privacy and security issues remain a concern for many in the older age bracket, with Americans over 50 not placing much trust in institutions to keep their personal data safe. AARP finds fewer than 1 in 4 trust online retailers, the federal government, and telecom service providers, among others. A related finding, meanwhile, highlights an opportunity to provide more education to older adults specifically on safe tech practices: Nearly 1 in 5 indicates they have low confidence in their safety online."
Sunday, January 27, 2019
CNN ran a story last week about a blood test that detects Alzheimer's. Blood test could detect Alzheimer's up to 16 years before symptoms begin, study says starts with an explanation of the "technical" aspects where the test would "measur[e] changes in the levels of a protein in the blood, called neurofilament light chain (NfL) [which] researchers believe [with] any rise in levels of the protein could be an early sign of the disease..." The study is in the most recent issue of Nature Medicine.
This is not a cure, but there are advantages to knowing this far in advance that the person has Alzheimer's. For starters, as the story notes, it would help with testing of treatments. From a legal point of view, it may encourage more clients to plan.
Friday, January 18, 2019
Mark your calendars for this upcoming webinar on student loan debts and elders, scheduled for January 29 at 2 est. Here's a description of this free webinar:
A growing number of older adults are carrying more student loan debt than ever before. Many took loans for their own studies while some also borrowed or cosigned loans for a child or another person. Student loan repayment—or debt collection consequences following non-payment—can impede saving for retirement or making ends meet on a fixed income. Unfortunately, even Social Security benefits can be taken to repay defaulted student loans.
This webcast will present the basics of student loan law and a framework for issue-spotting and solving common student loan problems. Topics covered during the webcast will include: identifying a loan type/status, making loan payments affordable, evaluating loan cancellation options, stopping involuntary debt collection activity, and curing default.
To register, click here
Thursday, January 17, 2019
My dear friend and executive director of the ABA Commission on Law and Aging sent me a notice about a part-time employment opportunity for two students. The Coalition to Transform Advanced Care (C-TAC) ("an alliance of 140 organizations whose sole purpose is to ensure that all Americans with advanced illness, especially the sickest and most vulnerable, receive comprehensive, high-quality, person- and family-centered care that is consistent with their goals and values and honors their dignity") has announced two student fellowship opportunities for a project, "two part-time, temporary positions as C-TAC Changemaker Fellows. Fellows will primarily undertake research for programs that align with their interests (policy, family caregiving, health disparities, data/metrics) and will be assigned a C-TAC mentor. Supporting program staff will also be an important opportunity for the Fellows to learn and support projects." Students need to be at least seeking a bachelor's or master's degree and have relevant interests in advocacy, public policy and the political realm. More information-contact Allan Malievsky (AMalievsky@thectac.org) with “C-TAC Changemaker” in the subject line.
Thursday, January 10, 2019
This article is a couple of months old, but I don't think the subject is at all dated. Stat ran an opinion piece, U.S. hospitals ignore improving elder care. That’s a mistake explaining that hospitals aren't designed to be elder-friendly
In the 21st century, health care is to elderhood as education is to childhood. But we don’t see bond measures for the “construction, expansion, renovation, and equipping” of hospitals to optimize care of old people, an investment that would surely benefit Americans of all ages.
People age 65 and older make up just 16 percent of the U.S. population but nearly 40 percent of hospitalized adults. In 2014, Americans over age 74 had the highest rate of hospital stays, followed by those in their late 60s and early 70s.
Remarkably, hospitals aren’t designed with elders in mind. Walk through one and you’ll almost invariably find cheerful decor for children, services and facilities aimed at adults, and a gauntlet of obstacles and insults to elders.
Thinking about the design of the hospitals, consider these notes from the article' "[o]ld people end up in old buildings. That usually means long walks down halls without railings or chairs with arms for rest stops. It means signs that are hard to read until you are right under them. It means a one-size-fits-all approach to both facilities and care that doesn’t acknowledge that the needs, preferences, and realities of a 75- or 95-year-old with a medical condition might differ from those of a 35- or 55-year-old with the same thing."
Noticing the volume of business from this demographic, the article highlights some efforts
A collaboration of industry leaders, including the American Hospital Association, the John A. Hartford Foundation, and the Institute for Healthcare Improvement, has launched an age-friendly health system initiative. While its purview is limited to a few geriatric conditions, it’s a step in the right direction. (And the field of geriatrics is finally beginning to model itself after pediatrics, taking a more whole health, life stage approach to elderhood.)
Some of the best ideas for hospital design come from outside health care. Innovations developed for aging-in-place homes or continuing care communities offer prototypes of “silver architecture.” Businesses like Microsoft are investing in structural and people-flow design that meets needs across the lifespan. They are adopting the position that if you design for the mythical “average human” you create barriers, whereas if you design for those with disabilities you create systems that benefit everyone.
Wednesday, January 9, 2019
There's no cure for Alzheimer's but according to a recent article in the New York Times, Dementia May Never Improve, but Many Patients Still Can Learn individuals with dementia can be taught certain forgotten skills. Known as "cognitive rehabilitation", "[t]he practice brings occupational and other therapists into the homes of dementia patients to learn which everyday activities they’re struggling with and which abilities they want to preserve or improve upon." It's important to realize that this training won't reverse the decline from the disease, but instead "the therapists devise individual strategies that can help, at least in the early and moderate stages of the disease. The therapists show patients how to compensate for memory problems and to practice new techniques." But, and this is important, the therapy can make a huge difference for folks with dementia---the "researchers have demonstrated that people with dementia can significantly improve their ability to do the tasks they’ve opted to tackle, their chosen priorities. Those improvements persist over months, perhaps up to a year, even as participants’ cognition declines in other ways."
Another approach being used in the U.S., the "T.A.P. program includes more patients with serious cognitive loss than cognitive rehab does. And it takes a somewhat different tack: T.A.P. aims to reduce the troubling behaviors that can accompany dementia: repeated questions, wandering, rejecting assistance, verbal or physical aggression" with the study showing "the frequency of such behaviors decreased compared to a control group, allowing family members to spend fewer daily hours caring for patients."
This is important research-read this article!
Monday, January 7, 2019
According to AARP, employee benefits most valued by Boomers are Health Insurance, Retirement Benefits Most Attractive to Boomer Workers
Boomer workers tend to place great importance on health insurance benefits and 401(k) matching contributions from their employers, according to a newly released Harris poll of 2,026 U.S. adults.
Gen Xers and younger adults also value these benefits but are somewhat more inclined than boomers to put a priority on paid time off and flexible work schedules, according to the poll, conducted for the American Institute of Certified Public Accountants (AICPA).
The statistics in the article are interesting. For example, as far as what employee benefits are important: for the Boomers, 71% said health insurance and 67% said 401(k), 54% pensions while the millennials and Xers placed less importance on pensions, 16% and 34% respectively. Millennials placed more importance on workplace flexibility compared to Boomers. How long do the Boomers surveyed intend to continue working? According to the article, 22% may retire within a year, 22% are considering cutting back on the amount they work and 13% are looking at a job change with only 14% likely to work more.