Older Archives - DR News - News, Retirement, Finance

Social Security Benefits Boost Bill Proposed by Senate Democrats amid Rising Costs for Older Adults

Philadelphia, Pennsylvania – A new legislation introduced in the Senate aims to increase Social Security benefits for older adults by adjusting the way cost-of-living increases are determined. However, the bill’s success in becoming a law remains uncertain. Senator Bob Casey, the chair of the Senate Special Committee on Aging, emphasized the importance of ensuring that Social Security remains a vital resource for seniors facing rising costs. The proposed Boosting Benefits and COLAs for Seniors Act …

Pension Gap: Older Britons Struggle as Costs Rise

London, England – Many older adults in the UK are finding themselves up to £80 short per week to cover rising costs as state pension payments fail to keep up with the increasing expenses of daily living. This financial strain has sparked debates on the need for adjustments to the pension system to ensure that retirees can maintain a decent standard of living. According to a former economist from the Bank of England, the state …

Retirement Crisis Looms: Sanders Report Reveals Nearly Half of Older Americans Lack Retirement Savings

Vermont Senator Bernie Sanders recently released a report warning that a significant portion of older Americans are facing a dire situation when it comes to retirement savings. The report indicates that nearly half of older Americans currently have no retirement savings to rely on as they age. This revelation highlights a growing concern around financial security and stability for aging individuals in the United States. The lack of retirement savings among older Americans could have …

DesMoinesRegister.com Boosts User Experience with Cutting-Edge Website Upgrade; Older Browsers Not Supported

Des Moines, Iowa – For those seeking the most up-to-date news and compelling stories from across the region, accessing the Des Moines Register’s digital platform now requires using a modern web browser. The newspaper’s website has been redesigned to harness the latest in web technology, streamlining its performance and enhancing user accessibility. The shift to a new website platform is part of a broader move to optimize user experience across devices, including smartphones, tablets, and …

Social Security: How Older Americans Are Preparing for Potential Benefit Cuts

Columbus, Ohio – Social Security is facing financial challenges that need to be addressed promptly to avoid potential benefit cuts in the near future. While these cuts are not imminent, there is a possibility that they may occur within a decade if policymakers fail to find solutions to strengthen the program’s finances. According to a recent nationwide survey of older Americans, only 41% of respondents expect Social Security to remain in its current form for …

Insurers Rattled by Rising Medicare Advantage Costs as Older Patients Increase Healthcare Utilization

Health insurers facing financial pressure have been hit hard as older patients are seeking more medical care than expected. CVS, the owner of health insurer Aetna, recently lowered its profit outlook due to potential higher medical costs affecting its profits. This warning came soon after Humana issued dismal 2024 earnings guidance, citing the same factor. The spike in medical costs for Medicare Advantage patients has been attributed to more elderly patients returning to hospitals for …

“Urgent” Call for Action on Fall Prevention Among Older People in Local Health Settings

NEW YORK, NY – Falls are a significant cause of injury and even death among older adults, making them a major public health concern. The lack of screening for fall risk among older people has been identified as a problem, leading to preventable falls. Recently, the American Public Health Association adopted a new policy calling for increased use of evidence-based falls prevention strategies. This policy aims to raise awareness and encourage healthcare providers to be …

Cost Concerns Dominate Health Care Worries for Older Adults

PLEASUREVILLE, KENTUCKY – Concerns about the cost of health care weigh heavily on the minds of older adults, particularly as expenses continue to rise. For individuals like Connie Colyer, 68, and her husband James, 70, the rising costs of medical care, long-term care, and prescription drugs pose significant challenges. Living on fixed incomes, many seniors are anxious about their ability to afford essential health services amidst increasing expenses for housing and other necessities. A recent …

Pensioners Take Hit: Thousands of Older Britons £4k Worse-off Due to State Pension Changes

London, United Kingdom – Thousands of older Britons are facing financial concerns due to changes in the Department for Work and Pensions’ Universal Credit rule, which could leave them up to £4,000 worse off. This state pension warning has sparked a wave of unease among the elderly population across the UK. The new rule has impacted pensioners who have partners of working age, leading to a significant reduction in their pension payments. This change has …

Retirement Debt on the Rise for Older Adults, Survey Finds

BOSTON, MA – A recent survey from the Federal Reserve has revealed that an increasing number of older adults in retirement are burdened by debt. According to the 2022 Survey of Consumer Finances, the percentage of individuals aged 65 to 74 with debt has risen to 65% in 2022 from 50% in 1989. Similarly, those aged 75 and over reporting debt has increased to 53% in 2022 from 21% in 1989. While limited retirement income …