InvestmentNews labeled Sen. Pat Toomey’s proposal to allow American consumers limited access to retirement savings to cover long-term care as one (among other) “ideas to raid retirement savings.” I don’t see it that way. Long-term care insurance covers caregiving costs due to an inability to perform activities of daily living or cognitive loss. Most Americans … Continue reading "Don’t Criticize Good Ideas to Ensure Retirement Security!"
We need a national solution to help more employers offer paid family and medical leave (PFML). PFML has the attention of leaders on both sides of the aisle and across all sectors because it’s about a basic human desire – the ability to care and be cared for. In the past four years, the number … Continue reading "How The Life Insurance Industry Is Providing Paid Family and Medical Leave"
Alzheimer’s disease is the leading cause of long-term care insurance claims. Currently an estimated 5.8 million Americans are living with Alzheimer’s disease. That number is expected to increase to 14 million by 2050. Today, the U.S. Senate Finance Committee Subcommittee on Health Care chaired by Sen. Pat Toomey held a hearing titled “Alzheimer’s Awareness: Barriers … Continue reading "Senators Scrutinize Alzheimer’s, Long-Term Care Insurance Provides Solutions"
More than 43.5 million family caregivers provide unpaid care annually to adults at any given point in time. Health insurance seldom pays for long-term care services and the government provides only limited coverage through Medicare and Medicaid. Many people are unable to save enough on their own to cover the costs of long-term care. Today, … Continue reading "House Committee Seeks Care Solutions for Aging Americans"
(A version of this article originally appeared in USA Today for Mediaplanet’s Financial Planning and Insurance Campaign.) Here’s something I’ll bet you didn’t know: The oldest millennials are celebrating their 20th anniversary in the workforce this year. Hard to believe, right? But it’s true. The millennial generation—widely defined as people born between 1981 and 1996—has grown up in a … Continue reading "Life Insurers Help Millennials Through Every Stage of Life"
Did you know that October is National Work and Family Month? Established in 2003 by a Senate resolution, it recognizes the importance of creating more flexible work environments and helping individuals better balance their work-life commitments. A proven way to support working families is through paid family and medical leave benefits (PFML). In fact, 47% … Continue reading "Extend Family Leave Tax Credit to Help American Families"
According to the Department of Health and Human Services, 59% of seniors will receive unpaid care during their lives, typically for about a year, from a family member. Currently, there are about 34 million unpaid caregivers in the United States who care for someone 50 or older. Helping people take care of the things that … Continue reading "Life Insurers Help Ease the Burden on Unpaid Caregivers"