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People are more likely to save when saving occurs automatically through mechanisms such as payroll deductions. Only about half of U.S. workers have access to an employer-sponsored retirement plan.
People need support for nonretirement savings and debt repayment. Such assistance can help improve financial security and preserve resources for retirement.
The high cost of long-term services and supports (LTSS) causes many older adults to fear impoverishment, becoming a burden to their families, or both.
In 2020, 38.9 million adults provided unpaid care to an adult family member or friend with health or functional needs.
Title III of the Older Americans Act (OAA) provides funding for a wide range of long-term services and supports (LTSS), social, and nutritional services.
Private-sector approaches for financing long-term services and supports (LTSS) must be part of a comprehensive LTSS financing strategy.
Long-term care insurance (LTCI) can be purchased privately.
One way to fund long-term services and supports (LTSS) is to adapt or combine coverage with existing life insurance coverage.
A reverse mortgage is a loan secured by the value of a home and does not require payments as long as the borrower lives in the home.
The Social Security Disability Insurance (SSDI) program provides stable benefits to those who cannot work. Benefits are also available for their families.