shAARP Talk: Observations from AARP

Inside E Street, AARP's own TV show, had a chance to talk to all the Presidential campaigns about health care. You can watch the full show online, but what's most interesting is the fundamental difference between the candidates when it comes to how to approach health care.
Here's a highlight:

UPDATE:
Had some YouTube issues, check out videos of each campaign below:

CNNMoney: Tips On Avoiding 401(k) Fees

Gerri Willis writes that the bill will "ensure that you have access to complete and clear information about fees associated with your 401(k). But there are still a lot of legislative hurdles to overcome, and many of us don't want to wait for the government to make a decision." But "not many people know what they're paying. A recent AARP survey found that 83% of those surveyed didn't know how much they paid in 401(k) fees and expenses."

USA Today: Ten Myths About Investing And Finances

"Most of us cling for years to financial misconceptions, fantasies and half-truths, merrily unaware that they're, well, myths. To help shine the light of truth on some financial fictions, staffers at USA TODAY selected 10 of the most common myths about personal finance." Among the myths are that the "fund's performance is the main factor in the growth of a retirement account," which is not true because it "is the one factor over which you have the least control. The best way to increase your retirement kitty is more elementary: Save more." Another myth is that retirees won't "need to save that much for retirement, since...living costs will fall a lot." Rather, one financial planner "tells clients to expect to spend more, particularly during the early years of their retirement."

Newsweek: Scoring System Further Strains Doctor-Insurer Relations

"Scoring systems...have touched off a contentious battle between doctors and insurance companies, two groups whose relationship was already strained. Insurers say the ratings are intended to help patients get the right care at the best price," but "being graded by insurers makes doctors uneasy. A growing number of physicians have accused giants like Cigna and United Healthcare of using dubious and secretive ranking systems to steer patients to the cheapest doctors, by claiming those are the best doctors." AMA President Nancy Nielson said, "There is a huge conflict of interest for the insurer." Insurers "point out that the impetus for cost-based ratings and networks comes not from insurers, but from their customers."

Do you know who Kellie Pickler is? After this week, you probably do. She won the most awards at this week’s Country Music Television awards – three and is a former American Idol star. The reason I mention her is because CMT One Country donates to a charity of the winner’s choice and Kellie has designated the AARP Foundation’s Grandparents program as the beneficiary. Why? Kellie was raised by her grandparents and it’s something she has spoken about frequently as she has claimed the spotlight.

New survey out today from AARP Financial finds that over half of Americans don’t read financial literature because it’s too hard to understand. No kidding. Have you tried to figure this stuff out? I’m with the 73 percent surveyed who said that financial professionals use more jargon than car mechanics.

The unfortunate thing about this is that people may be missing out on opportunities, making investment mistakes, even not sign up for retirement plans at work because of confusion. I can’t solve all your problems, but there are good, easy to understand resources out there, particularly when it comes to planning retirement.

AP: FBI Notes Increase In Mortgage Fraud

"FBI Director Robert Mueller on Wednesday described a 'tremendous surge' in mortgage fraud investigations that he said has diverted agents from other cases and is expected to keep growing. ... 'We've had a tremendous surge in cases related to the sub-prime mortgage debacle,' Mueller told a Senate Appropriations panel during a hearing on the FBI's $7.1 billion budget request for the 2009 fiscal year that begins Oct. 1. ... 'I'm not sure at this point we can see the extent of the surge,' he added. Mueller did not identify any of the companies under scrutiny." The AP notes that "the FBI has seen an uptick in reverse mortgages cases, Mueller said. 'That is something that we are seeing and may well need additional resources to address,' he said."

Bloomberg: Martha Stewart Testifies Before Congress On Long-Term Care

Martha Stewart, the television host and author known for her advice on dining and décor, told Congress today that caring for her mother taught her about the needs of the elderly and of those who attend to them. Her experiences taught her "the importance of coordinating the care that older people get from different doctors, Stewart told the Senate Special Committee on Aging. Family caregivers also need recognition for the stresses they face and the savings they expend," Stewart added.

USA Today: Former Senators Plan To Resolve Health Care Crisis

USA Today reports the senators will "each oversee forums on four pillars for health care changes: improving quality and value, improving access, ensuring a strong role for consumers and finding a way to finance the overhaul." They will "get technical advice from Mark McClellan, former administrator for the Centers for Medicare and Medicaid Services, and Chris Jennings, former health adviser to President Bill Clinton."

While tonight's debate began as most of the debates so far this election cycle - full of sniping and attacks - the debate finally settled down and we heard some substance. The candidates did talk about financial issues, which are weighing heavily on all Americans. But there was virtually no mention of health care tonight, which is unfortunate

The most interesting portion came when the candidates traded lobs on Social Security. While Senators Clinton and Obama are both concerned about the future of the program, they traded barbs about how to ensure the program is strong for future generations. It was a healthy discussion and it's a good thing to see the candidates willing to discuss a range of options. Getting to solvency is going to take a commitment from everyone.

The most disappointing thing about tonight's debate was that too much time was spent on the accusations and attacks that turn people off from politics. With just seven months left of the election season, it would be nice to see more substance and less fluff. Hopefully that's what we'll get.

Not endorsing this type of behavior, but check out a new video on health care from Senator Ron Wyden. It will give you a laugh AND give you pause when you think about health care…

Washington Times: Study "Blows The Lid Off" Boomer Misconceptions

"Baby boomers are not a bunch of annoying, self-absorbed, aging hippies with too much money and a penchant to call attention to themselves," according to a "report released yesterday by AARP meant to dispel persistent 'boomer myths' about the 77 million Americans born between 1946 and 1964." AARP spokesman Anthony DeLuise said, "The label of being self-centered is grossly exaggerated. It's very convenient to lump boomers together as a monolith, and this really misses the mark. This generation is really very diverse.'"

Associated Press: Clinton Plans SCHIP Expansion In First 100 Days

"Clinton's 100-day agenda included the start of a troop withdrawal from Iraq and submitting a budget to Congress that rolls back some of Bush's tax cuts. She also promised to sign bills he has vetoed to expand federal embryonic stem-cell research and broaden government-supported health care to millions of lower-income children who now go without."

USA Today: Foreclosures Projected To Increase Throughout Rest Of Year

"The "nation's already alarming pace of home foreclosures is poised to accelerate through the rest of the year, according to RealtyTrac, which reported Tuesday that foreclosure filings jumped 57% in March from March 2007." The report "painted a grim picture of growing numbers of people unable to make their mortgage payments."

Check it out from the Today Show:

New report out today that takes on some of the myths about the baby boomers, the 77 million people between the ages of 50 and 65. Full report available from Focalyst, but a quick rundown of my favorite myths:

- Boomers are retiring early. No hanging in the hat for boomers, just 11 percent say they will stop working when they reach retirement.

- Technology is not something boomers fear; 82 percent are using the Internet.

- Boomers are done with the kids. In fact, 37 percent have kids under 18 at home and a third are single.

Interesting and a reminder that the boomers are big, diverse and may not exactly what you thought.

Bloomberg: Study Shows U.S. Health Care System Not Prepared For Boomers

"Changes in payment policies by Medicare, the federal health insurance program for the elderly and disabled, would also affect what services the elderly use and how often they do so, the authors said." Currently, Medicare "is experimenting with payment changes to encourage better treatment while holding down spending. The agency's fee-for-service model generally pays for each procedure rather than for overall treatment, which some health analysts say encourages waste." The fee-for-service "policies don't 'encourage the delivery of the best care for older patients or the development of an adequate workforce,' according to the report.

USA Today: New Book On Identity Theft Claims Bankers Are Real Culprits

Steve Weinberg reviews "Zero Day Threat," a non-fiction book on identity theft by USA Today reporters Byron Acohido and Jon Swartz. Weinberg writes, "Surprisingly, the real villains in Zero Day Threat are not the identity thieves themselves." Instead, "the villains are supposed pillars of communities: bankers, credit-bureau managers and computer makers who enable the burglars, and who could ameliorate the identify-theft crisis but, instead, look away in the name of larger corporate profit." The authors "have ferreted out scandal within the identity-theft realm that is bound to lead to reader outrage. Whether the revelations will lead to meaningful reform by Congress and federal regulatory agencies remains to be seen."

MarketWatch: Democrats Contemplate Second Economic Stimulus Package

"Consumers may be more interested in saving than spending, muting some of the immediate positive impact from tax rebates in the first economic stimulus package, lawmakers worry. So Democrats are considering a second economic stimulus plan that could extend unemployment insurance benefits." That package "could include elements such as extending jobless benefits and investing in construction and other public works projects," but "some observers don't expect major progress within coming weeks as lawmakers focus first on passing housing legislation to support that market." The White House "opposes current efforts on a second economic stimulus plan."

New report out today from the Institute of Medicine that says that today’s workforce will not be prepared to handle the aging population. As an explosion of baby boomers start to age, as well people living longer, there’s going to be a larger and larger need for cargivers. The report recommends increasing pay, but also reaching out and helping to educate those who may not formally work in the caregiving field. For many families, the responsibility may fall on them.

There are some good resources out there right now if you are struggling to care for a family member or loved one, start with AARP's caregiving site.

Update: 5:12 PM: Link to the IOM report.

More Jamie Lee for your enjoyment...

CBS News: More Older Americans Are Exercising

"Whether they use weights or exercise machines or not, a lot of older Americans are bushing themselves to better performance every day." CBS (Senay) adds, "We've heard all this before. Plus the old saw about how you're never too old to get started. The truth is, though, most Americans tend to avoid heavy workouts but there is a growing number of seniors who seem to live for that." Dr. Rosanne Leipzig, geriatrics professor at Mount Sinai School of Medicine says, "Nobody exercises enough, okay. Seniors are no difference in that way. But the other thing that happens as we get older is that our body compositions change. We become unfortunately more fat and less lean body mass."

MarketWatch: Advice On Taking Care Of Insurance Needs During The Recession

"Byron Udell, founder and CEO of AccuQuote, a term-life insurer, recommends these four strategies to help you maintain your health, life and disability coverage when the economy is looking grim." Among the recommendations is "if you lose your job and you can exercise Cobra rights to retain your current employer's health insurance policy, do so. Even if you think you might be able to buy coverage at lower expense under an individual policy, Cobra can offer you good protection while you are choosing." Also, "[i]f you need significant medical care, do it now, while you're still employed and insured."

US News and World Report: David Walker Says Current Presidential Campaign Is Not Paying Enough Attention To Social Security

Walker says that "it is absolutely imperative that" fiscal responsibility "be an issue in the general election campaign," because the government has "about a five- to 10-year -- at most -- closing window of opportunity to start addressing our fiscal challenges or else our foreign lenders are going to send us a signal that we will feel." Walker adds, "We will be talking about proposed solutions...and you will be seeing some ideas pretty quickly about what we should be doing about Social Security, the framework of what we should be doing about healthcare."