Employment for those ages 55+ holds steady in November

Employment overview The Bureau of Labor Statistics (BLS) November Employment Situation Summary showed the economy added 228,000 jobs—down slightly from the 244,000 jobs added in October (revised down from 261,000). Both the overall unemployment rate and the unemployment rate for persons 55 and older remained unchanged from October at 4.1and 3.1 percent, respectively. The number of unemployed individuals ages 55+ was also unchanged at 1.1 million and the labor force participation rate for those 55 and older increased slightly to …

Senate Bill: Millions of Older Americans Could See Higher Tax Bills

The Senate Finance Committee (SFC) recently passed its tax reform proposal — the “Tax Cuts and Jobs Act.” This bill, like the House-passed tax legislation, warrants the attention of older Americans. Not only because it increases taxes on some taxpayers 65+, but also because it would trigger rules that, barring congressional action, would result in automatic cuts to federal programs. According to the non-partisan Congressional Budget Office, those cuts would be $136 billion in fiscal year 2018, $25 billion of …

Older Adults Who Don’t Have Meaningful Relationships are Sicker—and Cost Medicare More

Elizabeth “Izzy” Barnett, 80, is a full-time caregiver for her husband, Bob, who has dementia. They have no children or family to help and Izzy has lost contact with friends because she is busy taking care of Bob. Izzy’s is not alone in this situation. Millions of older adults are socially isolated—in other words, they lack meaningful relationships with family and friends. Life circumstances—losing a spouse, friends, and loved ones, or retirement—put older adults at increased risk for isolation.   …

Health Provision in New Tax Bill: Higher Premiums and Loss of Health Coverage for Older Adults

Thought the debate over the health law was over? Not quite. Yes, Congress has shifted its focus from health care to tax reform over the past couple months. But health care faces new threats under the latest proposed tax legislation. The Tax Cuts and Jobs Act as reported by the Senate Finance Committee on Nov. 16, 2017 includes a new provision that would both reduce health care coverage and increase costs for millions of Americans. Older adults ages 50-64 would …

Tax Reform: Don’t Count Your Tax Savings Too Soon

If you’ve been following the twists and turns of the ongoing tax reform efforts moving along in Washington, you’ve likely noticed proponents often repeating a particular theme: tax cuts for middle-class Americans. But tax policy is rarely simple, and it is important to look beyond the headlines to understand if this is really the case. How do Americans age 65 or older fare under the proposed legislation? In an effort to understand the implications of the tax proposals for Americans …

Promising Practices to Support Community Living For Veterans

Veterans Day provides an opportunity for all of us to thank our military veterans for their service. This time of year is also an appropriate time to increase our awareness of some of the challenges our veterans face. The AARP Public Policy Institute (PPI) wants to ensure that our nation’s veterans get the long-term services and supports (LTSS) they need, and do so while remaining in their own communities. As the veteran population ages, the need for these services continues …