shAARP Talk: Observations from AARP

Just a taste of what AARP members and elected officials are saying and doing when it comes to Divided We Fail and health and financial security:

In Texas, people concerned about the cost of their health care are signing the Divided We Fail pledge.

In Missouri and Ohio (see below), prominent elected officials are signing the pledge.

What about you? Click here to join them.

OH Gov. Ted Strickland reading the pledge (which he signed) and AARP Ohio President Joanne Limbach at the Governor’s Conference on Aging on November 28, 2007.

USA Today: Tech giants target older buyers — and their cash

Also, they are willing to try new products and services, says AARP CEO Bill Novelli. "The stereotype is that older people won't change brands, that they're too brand loyal, but there's lots of research that shows that's a myth."

Politico: Thompson takes on D.C. expectations

Now, the former Tennessee senator-turned-actor is making reform of Social Security and Medicare — the kind of issues presidential candidates typically avoid like the plague — major campaign topics as he seeks the Republican nomination.

Although some might consider that courageous, the conventional wisdom, at least inside the Beltway, is that this is akin to committing political suicide. It will put a big, bright target on his back.

Politico: GOP debate misses the mark

One of those woes, by the way, is not a lack of affordable, dependable, effective health insurance that you can retain for life.

Americans must already have that. Because not a single question was asked about it in the entire two hour-plus debate.

Associated Press: Government Report Says ID Theft Down

Consumer advocates are not convinced the Federal Trade Commission numbers are accurate, though they do agree on a key point highlighted in a footnote of the agency's report: the difficulty in coming up with a reliable assessment of the problem.

There has been some past opining about holiday fears, so I don’t want to continue to scare folks. BUT… you are out there spending and out there using your credit cards, so a reminder to be careful about identity theft. A recent AARP study found that 80 plus percent of those 50 and over are concerned about becoming a victim of identity theft, but just a third had ever read or heard about a security freeze.

One thing you can do is take advantage of a security freeze, which can stop identity thieves from fraudulently opening new lines of credit and bank accounts. More info here, but basically it requires the three consumer reporting agencies (Equifax, Experian and TransUnion) to block access to a consumer's credit information and score without the consumer's express consent or authorization.

Last night’s debate is a hot topic this morning on blogs of all stripes for all sorts of reasons (see here and here). But one glaring hole in last night’s discussion was the complete lack of health care questions. Is it possible that no one asked a health care question? That is hard to believe. Did the organizers think that folks are not concerned about their health care? That is even harder to believe. When we poll our members, we consistently see that health care (and financial security) consistently rank as the nation’s top domestic concerns.

A lost opportunity? You bet. These debates should be about the pocketbook issues the majority of Americans care about--not just special interests of a small group of folks. Last night was a lot lacking in that department. This was a shot for both CNN and the candidates to address the number one issue for voters and more specifically, 50 plus voters. And in the last election, one in four voters was an AARP member.

Associated Press: Government outs worst nursing homes

"People in nursing homes have a right to know how well they're performing," said David Certner, director of legislative policy for AARP, an advocacy group for people 50 and older. "Their families certainly have a right to know what kind of care their relatives are receiving and if that care is substandard."

Newsweek: The Strangers in Our Parents' Homes

Elinor Ginzler, author of the book "Caring for Your Parents" and AARP's director of livable communities strategies, says home-based health-care aides should receive adequate wages, benefits and necessary training and education including opportunities for advancement, respect for their work and safer working conditions.

Washington Post: Seniors Reach Beyond Family Ties

Potter, a former administrator at the District law firm Covington & Burling, said studies by AARP repeatedly show that more than 85 percent of elderly residents want to remain in their homes.

Wall Street Journal: Remote Control: Frail Seniors Embrace Home Monitoring

Overseeing the aged from afar is a hot issue for working caregivers, and the technology needed to do so is available. But policy makers and others have long fretted that seniors would resist electronic monitoring as an invasion of privacy.

The word is out… AARP The Magazine has announced their 2008 Inspire Awards, which pay tribute to 10 extraordinary people whose contributions inspire others to action through their innovative thinking, passion and perseverance.

Lotsa big names being honored this year, including Caroline Kennedy (Community Service Advocate), Gary Sinise (Fundraiser for Operation Iraqi Children), Gladys Knight (Champion for Diabetes Research), Barbara Morgan (Courageous Educator), Liviu Librescu (Virginia Tech Hero), Helen Thomas (Trailblazing Journalist), Cynthia Kenyon (Pioneer in Longevity Research), Ed Boyer (Founder of Air Transportation Aid), Roslyn Hill (Leader of Neighborhood Revitalization), and Pete Garcia (Affordable Housing Advocate).

Full details here. There’s a big fancy lunch on Monday in New York at the New York Public Library, we’ll be sure to get some pictures for you all to enjoy!

Associated Press: Caroline Kennedy is AARP's `cover girl'

The former first daughter is featured on the cover of the January/February issue of AARP The Magazine, on newsstands next month, and will receive the magazine's Inspire Award next week.

Wall Street Journal: More Resources Help Caregivers Help Themselves

Mr. Balch, 59 years old, is one of the estimated 45 million people who provide care for a loved one, including those with the most devastating diseases such as cancer, Alzheimer's and Parkinson's. Studies are increasingly showing that caregiving responsibilities can exact a drastic emotional, physical and financial toll, with caregivers experiencing high rates of depression, stress and other physical and mental health problems.

Wall Street Journal: How to Ensure Relatives Don't Rip You Off

Sadly, Brooke Astor is making headlines again. But there may be a lesson in the indictment of the late philanthropist's son and a lawyer close to the family's affairs: It can be risky to hand off financial responsibilities even to someone you think you can trust.

Washington Post: Social Security: Five Myths and a Slur

Advocating thumb-twiddling as sensible strategy ignores the reality that acting sooner spreads the burden of change across more generations, allows changes to be phased in gradually and lets future retirees plan ahead.

There’s an interesting new poll today out of the Joint Center for Political and Economic Studies, sponsored by AARP, giving the pulse of African American voters just a month out of the primaries.

Two things worth noting:

Respondents named Senator Hillary Clinton over Senator Barack Obama as having the best position of the Democratic candidates on two important issues – affordable health care (47.3 percent to 18.7 percent) and strengthening Social Security (41 percent to 18.6 percent).

Among African American Republicans polled, former Mayor Rudolph Giuliani had the favored positions on Social Security (28 percent) and healthcare (25 percent). Senator John McCain ranks a distant second to Giuliani on Social Security and former Senator Fred Thompson ranks a distant second on health care.

Check out a wonderful editorial/blog posting from Brad Warthen, an editorial writer from South Carolina’s The State. Brad recalls not only the misery of a doctor’s visit (who hasn’t endured that one), but more importantly, the need for serious reform in the health care system.

We are featured again the Huffington Post. Check it out here.

Associated Press: Clinton Touts Health Insurance Plan

Insurance companies should face the same kind of federal regulation as firms that sell stocks and bonds, Democrat Hillary Rodham Clinton said Monday as she outlined her health care plan to voters around a dining room table.

Politico: Young and uninsured turn to ... Facebook

His is one of more than 20 groups on Facebook dedicated to advocating expanded government health coverage, and many of them have hundreds of members.

New York Times: Justices Consider a Loss in a 401(k) Plan

For the tens of millions of Americans whose financial security in retirement depends on their 401(k) plans, the question before the Supreme Court on Monday was highly pertinent: If the employer, or its agent, mishandles an individual account, can the employee sue to recover the losses?

USA Today: Foreclosures to have 'profound' impact, report warns

Mounting home foreclosures will have "profound" effects on the economy next year, reducing job growth, bleeding billions of dollars in tax revenues and hitting consumer spending — but shouldn't push the country into a recession, according to a report Tuesday.

The blogs, as well as the mainstream media, have been chatting about Social Security over the past few days mostly as a result of this column from Ruth Marcus and blog response from Paul Krugman, as well as this AP story. A sampling for your pleasure:

Heading Right's take on Krugman v. Marcus;

Clive Crook of the Atlantic, also serving as a referee; and

My DD on the language of Social Security.

There is no crisis, but Social Security needs to be there for the next generations. And this may mean tough choices that everyone should be prepared to make. Some of us are ready, now it’s time for our elected leaders to get on board.

New York Times: Strategies to Avoid Medicare’s Big Hole

A recent AARP survey found that among Medicare beneficiaries who reached the doughnut hole, 15 percent decided not to fill a prescription.

Marketwatch: Youth movement

AARP and the American Council on Exercise have teamed up to supply older Americans with information about personal training services, since research suggests that older people work out more frequently when pushed by trainers.

New York Times: Peace Corps Looks for Older Volunteers

The focus on the age group has meant new recruitment methods: contacting organizations like AARP and retired teachers’ associations, and employing older former volunteers to work in nearly every recruiting office. The Peace Corps has aimed for 15 percent of its volunteers to be at least 50 by 2009.

Associated Press: Social Security to Become Key Issue

With the notable exception of former Sen. Fred Thompson, a Republican, presidential hopefuls in both parties shy away from suggestions that might offend their own primary voters. As a result, bipartisan commissions to resolve the program's long-term financial problems are in. And longer waits for retirement are most definitely out.

Washington Post: Rivals Not Able to Confront Key Challenges, McCain Says

As part of that bipartisan agenda, McCain promised to tackle Social Security and Medicare, saying he would convene "a commission composed of respected people" to propose how to fix the two entitlement programs.

Washington Post: Krugman vs. Krugman

The argument has two equally dishonest components. The first is to deny that Social Security faces a daunting financing problem -- one that will be much easier to fix (and less onerous for the low-income retirees that the head-in-the-sanders purport to care about) sooner rather than later. The second is to mischaracterize the arguments of those who advocate responsible action, accusing them of hyping the system's woes.

BusinessWeek: Personal Business -- Plus

The IRS has quietly posted a notice on its Web site that requires 401(k) plans, starting on Jan. 1, to allow children, siblings, unmarried partners, and other "nonspouse" beneficiaries to transfer 401(k) inheritances to an individual retirement account.

Washington Post: In a Role Reversal, the Older Generation Tests the Limits

Traditional family rules and rituals are being turned upside down. But it's not the young who are defying social conventions; it's the old folks who are behaving like young people.

Many of you may be part of the sandwich generation, which includes over 8 million people who are caring for aging parents at the same time as caring for young children. Yesterday, the Today Show did a great report about those who are feeling the squeeze. I blogged about the recent AARP study last week that shows only 40 percent of women have begun to plan for their parents future. I said it before and I’ll say it again… get a plan, have the conversation. You are going to see your mother, father, grandfather, aunt or someone you love over the next few days, so take a minute and ask them how they want to live as they age. And don’t eat too much!

‘Sandwich generation’ caught in middle

For those of you reading that are Medicare recipients (and just to clarify, 13 million of our members ARE boomers), November 15 began the period of open enrollment for Medicare Part D. This means it is time to get smart and choose a plan that works for you. Research shows that people are satisfied with their plans and in order to remain so, folks need to really consider what they need before they choose a plan and make a decision based on what they need.

AARP has a pretty comprehensive list of tips here and the feds do a pretty good job here with a good comparison chart. Check it out and get smart!

Newsweek: Clinton vs. Obama - Who's right on health care, Social Security?

In the latest debate among the Democrats, Sens. Hillary Clinton and Barack Obama sparred over their plans for health care and Social Security. We found both presidential candidates guilty of exaggerations and questionable claims:

Washington Post: Slicing and Dicing a Newspaper

You know what I'd like to see more of? Discussion of the actual issues they were arguing about.

USA Today: Care about health

By offering high-quality health care plans, businesses are able to recruit and retain good employees, and increase employee satisfaction and productivity.

Washington Post: On the Money at Treasury

Now, as crises in the mortgage and financial markets raise fears of a recession, he has moved forcefully to try to prevent the worst outcomes.

Wall Street Journal: The Baby Boomer's Guide To Social Security

Starting in January, the first of an estimated 78 million baby boomers turn 62 years old and become eligible for Social Security.

Washington Post: Dodging the Third Rail

Barack Obama is only partly acknowledging reality on Social Security.

Wall Street Journal: Health-Care Plans Aid Industry

Democratic presidential candidates like to beat up on insurance companies, but there is a lot for the industry to like in their health-care plans -- starting with plenty of new business.

New York Times: It’s Not Just the Uninsured

The tedious, hair-splitting debates over health care that we’re getting from the presidential candidates — those who talk about health care at all — seem out of sync with the enormity of the problem. For families without the protection of health insurance, the devastating combination of serious illness and imminent financial ruin can be absolutely mind-numbing, stunning in its tragic intensity.

Wall Street Journal: House Passes Bill Curbing Mortgage Brokers

The House passed legislation to give more protection to home-mortgage borrowers, but deadlocks in the Senate make it unlikely that such a measure can be enacted into law before next year, in the latest sign Congress is struggling to address the nation's mortgage crisis.

Washington Post: Democratic Contenders Step Up Attacks in Debate

Toward the end of the debate, Obama and Clinton got into another argument over Social Security. Obama, in response to a voter's question about looming retirements in the baby-boom generation, said he would consider raising the amount of wages that are subject to payroll taxes, currently $97,500. Clinton has said she would not propose any specific ideas for Social Security other than restoring fiscal discipline to the federal budget.

Washington Post: Two Cheers for Mr. Thompson

His Social Security plan isn't perfect, but it confronts reality.

Wall Street Journal: How U.S. Health System Can Fail Even the Insured

Polls show that health care has become Americans' No. 1 domestic concern, thrusting it to the center of the presidential campaign. Every major candidate has introduced a health-care reform plan. But for the most part, these plans focus on providing coverage to the 45 million uninsured or reining in medical costs. They do little to address the myriad hurdles insured patients often encounter when they seek care.

Just in case you haven't seen it, AARP is featured in the Huffington Post today. Check it out!

Marketwatch: Top 25 places for retirement jobs

RetirementJobs.com evaluates employers against 35 "best practice" factors known to be present at employers eager to recruit and retain age 50-plus workers. (RetirementJobs.com has a list of age-friendly certified employers at this Web site and AARP has a list of the 2007 List of Best Employers for Workers Age 50+ at this Web site.)

Wall Street Journal: Making the Most of Benefits

It's that time of year again: open-enrollment season. Some people consider having to make decisions about their employee benefits a minor annoyance, but I look at it as an opportunity to review how well I'm managing my out-of-pocket costs for health care, dependent care and commuting.

Chicago Tribune: Charities are counting on Boomers passing the bucks

You can't take it with you, they say. Charities everywhere are counting on that as they avidly eye the enormous amount of wealth Baby Boomers could leave behind when they head to their final reward.

Politico: Republicans complain about SCHIP shutout

The debate over the State Children’s Health Insurance Program has publicly quieted, but behind the scenes Democrats and Republicans have been negotiating for weeks.

Blogland is talking about the mortgage lending mess (here, here and here) that we are facing in this country and the need for reform in the biz. There is legislation make its’ way through the House with an expected vote tomorrow that would help. It is not perfect – is legislation ever perfect? But, it would bring some fairness and transparency to the mortgage lending industry. There are some forces that are looking to use this opportunity to eliminate even better and stronger consumer protection laws at the state level, which would hurt would be homeowners in those states.

Congress should beat back proposals to water down H.R. 3915 and this bill should move things forward, not backwards. We’ll watch tomorrow and see if they do the right thing. The status quo is untenable for America’s families, hopefully our leaders will make the right move on this one.

Tomorrow, business leaders, unions and AARP are having a roundtable discussion about hybrid pensions plans. What is a hybrid pension plan? I wondered too, which is why I poked around for you. A good background from the BBC here but the short version is that it is an interesting cross breed between a defined benefit pension and a 401k. Sounds like an interesting idea for those who may not have a chance to save for retirement at work - the risks are shared and there is an element of personal responsibility and planning.

Hear more about it tomorrow at 9 am by clicking here. It looks like there are some interesting people attending, including folks from Honeywell and Eaton, two companies who are actually doing this. Enjoy!

The big story today on health care is a new Congressional Budget Office report about the long-term outlook for health care spending. What do the wise ones over at CBO tell us? That health care costs are skyrocketing (I am actually on hold with the insurance company right now) and costing not just the government, but business too much money. Taken directly from the report:

“The main message of this study is that, without changes in federal law, federal spending on Medicare and Medicaid is on a path that cannot be sustained… the degree to which the system promotes the population’s health remains unclear.”

Sounds like something’s gotta give.

The latest in the healthcare ad blitz is former Senator John Edwards, who is running ads in Iowa on universal health care. Video here.

Wall Street Journal: Should Small Firms Be Required To Provide Health Insurance?

The National Federation of Independent Business, which helped kill the Clinton health plan in 1994, is joining with some unusual allies to support health-care reform -- the "Divided We Fail," a group dedicated to health-care revision and Social Security solvency.

People Magazine: Ben Affleck, Reese Witherspoon Debut Political Ads

The spots, filmed in September with the actors volunteering their efforts, calls for viewers to go to DividedWeFail.org – a nonpartisan campaign launched by the AARP seeking affordable, quality health care in America.

Wall Street Journal: Reverse Mortgages: The Choices Expand

But you may pay higher interest rates in exchange for lower fees, says David Certner, legislative-policy director at AARP, the Washington-based advocacy group.

FOX Business: The Retirement Myth

The average male who drops out of the workforce at 65 can now expect to live another 16-18 years in retirement (even longer for women), compared to 13-15 years back in the 1980s, according to AARP.

AARP is cooler than you think. Today they are announcing a new public service announcement campaign featuring Ben Affleck, Garth Brooks, Dakota Fanning, Morgan Freeman, Eva Mendes, Joaquin Phoenix, Jeremy Piven and Reese Witherspoon highlighting the need for affordable, quality health care and financial security for all Americans.

This also brings two new groups under the Divided We Fail umbrella, the Entertainment Industry Foundation (EIF) and the Motion Picture & Television Fund (MPTF). Directed by actor and director Tony Goldwyn -- grandson of legendary producer and EIF Founder Samuel Goldwyn -- with music composed by Philip Glass, the PSA urges everyone to let their voice be heard on the need for affordable, quality health care and peace of mind about financial security.

Chicago Tribune: Aging in place highly rated

A slew of surveys confirm that most people age in place, and that's what they want. But a growing percentage of older people are moving to age-restricted buildings for a variety of reasons, a new study shows.

Chicago Tribune: Gradual retirement may not be key to happiness

With more than 70 million Baby Boomers moving closer to retirement age, about 80 percent say they plan to work at least part-time after retiring, according to AARP, which has surveyed Boomers extensively.

Los Angeles Times: Linking health plan to economy

Gov. Schwarzenegger argues that fixing the healthcare system would ease state budget woes, but legislators, analysts aren't so sure.

New York Times: In Search of Savers: 401(k) Rules Are Changing

NEW 401(k) regulations that take effect next month will sharply alter the rules of the game — at least for some employees.

Wall Street Journal: Public Split On Healthcare Policies

The Wall Street Journal reports in its "Washington Wire" column that by 49%-40%, Americans back conservative health-care solutions of tax credits and health-savings accounts over government coverage mandate backed by subsidies for the poor. But by 51%-42%, they back liberal idea of tax increases on the rich to expand coverage over continued tax cuts.

Washington Times: Mandating Health Coverage Will Cause Unemployment

The Washington Times reports, Mandating that employers either provide workers with health care coverage or pay a fee to the state or federal government could increase unemployment, according to "economic researchers" at Cornell University.

Forbes: Series On Boomer Retirement Featured

In a continuing series on retiree's income, Forbes reports, Given the tsunami of baby boomers facing retirement within the next 20 years, there is a lot riding on 401(k)s and other self-directed retirement savings accounts. To avoid pitfalls like "a wrong move that could leave you with heavy tax payments or, in the case of your death, reduce the funds that you leave to your family," in this series, "we give you strategies and tips from retirement planning professionals to safeguard and maximize the potential of your 401(k) plan."

New online campaign... if you think so too, click here.

Just in time for Caregiver Awareness Month, AARP has released a survey about those who are doing most of the caregiving – boomer women. Turns out these women are talking to their parents about how they want to live as they get older, but not enough are actually doing the planning. Nearly 70 percent of these women also believe their parents can afford their care, but the reality is that a nursing home can cost as much as $75,000 a year and a private home health aid about $19 an hour.

What does all this mean? It means it is not enough to have the conversation, it’s time to get a plan.

Yesterday, Senator Barack Obama was out on the campaign trail talking about economic security and he echoed his support for automatic IRAs. Not enough candidates are talking about what they can do to help American families build lifetime economic security; after all a key component to saving is saving at work and today 75 million people (too many) are not able to do this.

These two don't have to be the only ones - the nine Democratic and Republican candidates who currently serve in Congress have a chance to show Americans they are committed to helping them save by co-sponsoring the Automatic IRA Act of 2007 (S. 1141 and H.R. 2167).

Also, today the House Education and Labor Committee is having a hearing on the very same topic, so hopefully it will gain more traction. By allowing people to save at work, almost two thirds of those I just talked about could get on the savings train.

Workforce Management: AARP study finds most employees interested in IRA accounts

Seventy-one percent of workers without access to an employer-based retirement plan believe that employers should be required by law to offer workplace access to an individual retirement account, according to a study released today. The study, from AARP, found that 79 percent of workers without workplace access to savings said they would participate in a plan that regularly deducted savings from their paycheck.

Associated Press: Democrats Say They Are Nearing Veto-Proof SCHIP Compromise

Congressional negotiators said Tuesday they were nearing agreement on a revised children's health bill that they believed would withstand President Bush's veto. House Majority Leader Steny Hoyer said "that an accord might be difficult because the Republican participants did not include party leaders, and overriding a Bush veto is 'a tough vote' for GOP lawmakers." The "health insurance bill" is