As Lifespans Increase, Baby Boomers Finding Themselves Caring For Both Aging Parents, Adult Children
The number of 60-somethings with living parents has more than doubled since 1998, to about 10 million. Meanwhile, the boomers are also more and more bearing the burden of adult children who have had health setbacks or other financial crises. In other health care costs news: insurance discounts for walking, waivers to help people with costs, and direct-to-consumer marketing.
The Wall Street Journal:
‘I Was Hoping To Be Retired’: The Cost Of Supporting Parents And Adult Children
There is a growing number of baby boomers who find themselves caring for both their elderly parents and their adult children, rather than kicking back at retirement age. They face the strain of constant caregiving and derailed dreams, as well as added expenses. It’s one more reason why many Americans are entering their retirement years as unprepared financially as any generation in years. A 2014 study by the Pew Research Center found 52% of U.S. residents in their 60s—17.4 million people—are financially supporting either a parent or an adult child, up from 45% in 2005. Among them, about 1.2 million support both a parent and a child, more than double the number a decade earlier, according to an analysis of the Pew findings and census data. (Phillips and Gillers, 11/16)
NPR:
As Insurers Offer Discounts For Fitness Trackers, Wearers Should Step With Caution
When Kathy Klute-Nelson heads out a on neighborhood walk she often takes her two dogs — Kona, a boxer, and Max, a small white dog of questionable pedigree who barrels out the front door with barks of enthusiasm. The 64-year-old resident of Costa Mesa, Calif., says she was never one to engage in regular exercise – especially after a long day of work. But about three years ago, her employer, the Auto Club of Southern California, made her and her colleagues an offer she couldn't refuse: Wear a Fitbit, walk every day and get up to $300 off her yearly health insurance premiums. (O'Neill, 11/19)
Wyoming Public Radio:
Lawmakers Will Consider Using Waiver To Reduce Health Insurance Costs
The Wyoming legislature has a long history of exploring ways to get quality and affordable insurance to more citizens, but for a variety of reasons, nothing has really ever worked. The legislature has long opposed accepting federal dollars to expand Medicaid due to fears that the money would eventually dry up and the state would have a program it could no longer afford. But there is not an available state solution either. (Beck, 11/6)
Kaiser Health News:
Hospitals Follow Big Pharma Into Direct-To-Consumer Advertising
The scene is shadowy, and the background music foreboding. On the TV screen, a stream of beleaguered humans stand in an unending line. “If you’re waiting patiently for a liver transplant, it could cost you your life,” warns the narrator.One man pulls another out of the queue, signaling an escape. Both smile. (Luthra, 11/19)
