- Hiding In Plain Sight — The Health Care Gender Toll
Employed women have as much as $15.4 billion more in out-of-pocket medical expenses a year than men
Employed women have as much as $15.4 billion more a year than men in out-of-pocket health care expenses. At all ages between 19 and 64, women have more in average out-of-pocket health care expenses than men, excluding maternity claims.
read more - Long-Term Care Claims Skyrocket In 2022
Inadequate pricing assumptions for older blocks continue to result in loss ratios exceeding 180
Claims in the long-term care (LTC) insurance segment skyrocketed 20% in 2022, creating a difficult combination with inadequate pricing assumptions on older blocks of business that have forced significant reserve increases, according to a new AM Best report.
read more - Retirement Account Balances Move Up For Third Straight Quarter
IRA account openings spike among next generation, especially younger women
Some good news for retirement savers: for the third straight quarter, Fidelity Investments’ Q2 2023 retirement analysis reveals retirement account balances increased, owing in large part to steady employer and employee contributions and positive market conditions.
read more - Many Americans Believe AI Will Provide Their In-Home Care As They Age
Nearly one third would talk to robots if feeling lonely and almost half would share their medical history with AI
Less than a year since the launch of the popular Artificial Intelligence (AI) chatbot ChatGPT, Americans are embracing AI-based care as they age. One third of Americans and over half (58%) of millennials believe AI and robotics will provide their future in-home long-term care.
read more - Automating Decumulation To Meet The Needs Of A Booming Retiree Population
As awareness has grown around the importance of building healthcare into retirement plans – and that these costs will rise faster than inflation – clients are looking to advisors to ensure this fundamental need is met
With millions of baby boomers retiring, awareness is growing that meeting individual clients' retirement income needs at scale will require greater use of automation in the retirement planning and decumulation phases of retirement.
read more - 2023 Retirement Confidence Survey
Caregivers have lower levels of assets and more problems with debt despite having similar levels of knowledge and preparations
A new report published today from the 33rd annual Retirement Confidence Survey (RCS) finds that caregivers are more likely to have lower levels of assets and more likely to have problems with debt than non-caregivers. With these tolls on caregivers, they are also less likely to have saved for retirement and are more likely to…
read more - How Much Care Will You Need?
Study finds 46% of financial professionals don't recommend LTC
A study on perceptions of long-term care (LTC) protection conducted by OneAmerica, in collaboration with Hanover Research, found that only 54% of financial professionals are currently recommending or offering LTC protection to clients.
read more - Is The Next Wave Of Life Expectancy Gains On The Horizon?
Improvements in life expectancy have slowed over the last decade after a steep increase in the late twentieth century
Gains in human longevity have tapered off over the last decade but the next wave of improvements is on its way, says Swiss Re's latest report, The future of life expectancy: Forecasting long-term mortality improvement trends for insurance. Advances in cancer diagnosis and treatment are the most likely areas to improve global longevity, according to…
read more - Resilient Choices: Trade-Offs, Adjustments And Course Corrections To Thrive In Retirement
Americans overwhelmingly see course corrections as essential to thriving in retirement
Nearly all retirees (93%) agree that preparation, flexibility and willingness to adapt are keys to success in retirement, according to the latest study from Edward Jones and Age Wave involving representative surveys with more than 12,000 North American adults across five generations. The new research report1, “Resilient Choices: Trade-Offs, Adjustments and Course Corrections to Thrive…
read more - How Are Women Feeling About Their Financial Future?
Half of American women report struggling financially today, leaving them worried and uncertain about retirement
Two surveys of women ages 25 and older, commissioned by the National Council on Aging (NCOA) and Women's Institute for a Secure Retirement (WISER), find that half of American women are struggling financially today, making it very difficult to plan for a secure retirement. Across demographic and party lines, women express strong bipartisan support for…
read more - Small Business Retirement – Investing In Your Future
Small business owners offering employee retirement plans are more attuned to employee needs during uncertain time
While most Americans saving for retirement do so through their employer's retirement plan offering, small businesses are much less likely than larger companies to offer a plan. Only 28% of businesses with less than 10 employees offer retirement plans and only 51% of businesses with 10-24 employees offer them.
read more - The 2023 Retirement Confidence Survey
Americans’ optimism that they will have enough money to live comfortably throughout retirement declines
A new report published today from the 33rd annual Retirement Confidence Survey finds a decline in the confidence Americans feel in having enough money to live comfortably throughout their retirement years. The report also finds both workers and retirees are very concerned about inflation and its impact on their savings and spending.
read more - The State Of Healthcare 2023: Is Your Benefits Game Plan Working And Designed To Endure?
67% of employees navigate their healthcare journey without expert help
Employer Benefits News (EBN), a primary media resource for decision-makers in the world of employee benefits, human resources and workplace culture, announced today the findings of its State of Healthcare 2023 study, sponsored by Quantum Health, the industry-leading healthcare navigation and care coordination company. The study reveals that more than two-thirds of all employees are…
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