Archive
Nightmare on Main Street: Older Americans and the Mortgage Market Crisis
Nightmare on Main Street: Older Americans and the Mortgage Market Crisis
Source: AARP
This is the first study to measure the progression of the mortgage crisis and its effect on people age 50 and older. Based on an analysis of nationwide loan-level data for the years 2007 to 2011, this study examines loan performance based on borrower age, loan type, and borrower demographics.
Despite the perception that older Americans are more housing secure than younger people, millions of older Americans are carrying more mortgage debt than ever before, and more than three million are at risk of losing their homes. As of December 2011, approximately 3.5 million loans of people age 50+ were underwater—meaning homeowners owe more than their home is worth, so they have no equity; 600,000 loans of people age 50+ were in foreclosure, and another 625,000 loans were 90 or more days delinquent. From 2007 to 2011, more than 1.5 million older Americans lost their homes as a result of the mortgage crisis.
To date, public policy programs designed to stem the progression of the foreclosure crisis have been inadequate, and programs that focus on the unique needs of older Americans are needed.
How Insights on 50+ Adults Can be Useful to Local Businesses
How Insights on 50+ Adults Can be Useful to Local Businesses
Source: AARP
This presentation examines current trends that affect older adults as well as demographics, life events, activities, and attitudes of the 50+.
Many trends affect the behaviors and attitudes of 50+ adults. While consumer confidence is slowly increasing, personal savings rates are higher than pre-recession levels. Unemployment rates are slightly lower for older adults; however, older adults remain unemployed for longer periods of time than their younger counterparts. Older adults are experiencing higher out of pocket health care costs and as a result many are not going to doctors or health care professionals for treatment as often. About as many older adults live in multigenerational households as those who live alone. Although fewer older adults use technology compared to their younger counterparts technology use among older adults is on the rise.
There are approximately 100 million 50+ adults and this population is projected to increase to 160 million by 2050. Not only is the 50+ population going to grow in size but it will also become more diverse as both the African American and Hispanic 50+ populations greatly increase by 2050.
Older adults are most interested in spending their personal and leisure time with friends and family and doing activities that center around their hobbies, travel, entertaining, reading, cooking, and physical and brain fitness. Older adults are also spending their personal time volunteering in activities that involve helping people with disabilities, distributing food, and fundraising for a good cause.
Insights and Spending Habits of Modern Grandparents
This report highlights the results of two grandparenting studies conducted in 2011: in-depth interviews (IDIs) with grandparents age 50+ (including those who are the primary caregivers for their grandchildren); and a national telephone survey of grandparents age 50+ (including special modules on grandparenting in multicultural or multiethnic families and grandparents providing daycare services). This report provides a snap shot of the experiences, triumphs and challenges of grandparents age 50+ as described by in-depth interview of participants, by summarizing the current research on grandparents age 50+, including topics such as grandparents raising grandchildren; grandparent-grandchild communication tools; frequency & quality of grandparent-grandchild visits; how grandparents support grandchild rearing; spending and gifting trends among grandparents; and issues that affect grandparent-grandchild relations.Key findings include:
- The vast majority of grandparents in the quantitative study said they play a very (59%) or somewhat (30%) important role in the lives of their grandchildren.
- About seven in ten (69%) grandparents live within 50 miles of their closest grandchildren. Another 10% indicated that they have to travel over 200 miles to see their closest grandchildren. A little over four in ten (43%) grandparents have to travel over 200 miles to see their grandchildren who live furthest away from them.
- Grandparents who said they did not see their grandchildren enough most often cited distance (67%) as a reason why; followed by the grandchildren’s busy schedules (64%).
- The most frequently mentioned methods of communicating with grandchildren were either face-to-face or telephone. In the telephone survey, nearly six in ten grandparents said they speak with their grandchildren at least once a week (58%).
- Grandparents see their role as shapers of another generation. Specifically, grandparents mentioned the importance of passing on values and helping their grandchildren develop morally and spiritually.
- The majority of grandparents in the telephone survey indicated that they have discussed morals and values (78%) and religion or spirituality (66%) with at least one of their grandchildren. As a corollary, nearly half (47%) indicated that they have attended religious services with their grandchildren in the past six months.
New AARP PPI Report Finds Price Increases for Brand Name and Specialty Drugs More Than Offset Generic Drug Price Decreases
A look at retail prices for a combined set of widely used prescription drugs finds the cumulative change in prices from 2005 through 2009 was almost double the rate of inflation. AARP Public Policy Institute’s (PPI) examination of widely used drugs – brand name, specialty and generic – found that even with substantial decreases in the prices of generic drugs, the average annual cost of drug therapy continued to rise.
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The latest PPI Rx Price Watch Report examined retail prices for the 514 prescription drugs most used by Medicare beneficiaries. In 2009, the annual average rate of increase for these drugs was 4.8 percent while rate of general inflation was -0.3 percent. When broken down further, the findings show that the retail prices for brand name and specialty drug products rose by 8.3 and 8.9 percent respectively in 2009. In contrast, retail prices for generic drugs decreased by 7.8 percent.According to the report, retail prices for the 469 prescription drug products that have been on the market since the end of 2004 have increased by 25.6 percent from 2005 through 2009, compared with a general inflation rate of 13.3 percent. For consumers taking a drug on a chronic basis, their average annual cost of therapy rose from $2,160 to $3,168 over the same time period.
Aging in Place: A State Survey of Livability Policies and Practices
Aging in Place: A State Survey of Livability Policies and Practices
Source: National Conference of State Legislatures/AARP
Nearly 90 percent of people over the age of 65 want to stay in their home for as long as possible. However, for older adults to age in place, their physical and service environment must be able to accommodate their needs.
NCSL partnered with the AARP Public Policy Institute to examine promising state land use, transportation, and housing policies that may enable aging in place. These policies include integrating land use, housing and transportation; efficiently delivering services in the home; providing more transportation choices; and improving affordable, accessible housing to prevent social isolation.
+ In Brief (PDF)
+ Full Report (PDF)
State Health Insurance Exchange Websites: A Review, Discussion and Recommendations for Providing Consumers Information about Quality and Performance
State Health Insurance Exchange Websites: A Review, Discussion and Recommendations for Providing Consumers Information about Quality and Performance (PDF)
Source: AARP
A centerpiece of the recently enacted health reform legislation—the Patient Protection and Affordable Care Act (ACA)—is the creation of state-level health insurance exchanges. The exchanges must be certified by the Department of Health and Human Services (DHHS) by January 1, 2013 and fully operational by January 1, 2014. They are to provide a “one-stop” place for individuals and small employers to learn about their health insurance options and purchase the plan that best meets their needs. By design, they should offer a structured way to compare health insurance plan premiums, benefit packages, cost-sharing, and quality in order to facilitate a purchase decision. A key element of their success will be the extent to which consumers and small employers find the purchase experience to be informative and easy.
While the exchanges must undertake many important activities, those that relate to the consumer shopping and purchase decision include:
- Deciding which plans to offer
- Maintaining a website that provides plan information in a standardized format
- Operating a toll-free hotline
- Establishing a navigator program to assist consumers
This study addresses the second health exchange function: maintaining a website—with a particular focus on information about health plan quality and performance that could be made available to the public to help them select a plan. To inform the decisions states will make about the content and appearance of their websites, this study examines the current “state-of-the-art” of online consumeroriented health plan report cards available in states and nationwide. These report cards bring various types of quality, patient experience of care and other organizational information into one consumer-oriented report available through the Internet. They usually provide information on several aspects of performance for different types of managed care plans including Health Maintenance Organizations (HMOs), Point-of-Service Plans (POS) plans, combined HMO/POS plans and sometimes Preferred Provider Organization (PPO) plans.
The exchanges can play a key role in ensuring that consumers (individuals and families as well as small business purchasers) will have information they’ll need to make informed decisions in selecting health insurance options.
Policy and Design Considerations for Accommodating Low-Speed Vehicles and Golf Carts in Community Transportation Networks
Policy and Design Considerations for Accommodating Low-Speed Vehicles and Golf Carts in Community Transportation Networks
Source: AARP Public Policy Institute
Low-speed vehicles (LSVs) (in particular, neighborhood electric vehicles) and golf carts have become increasingly popular, particularly among older adults, as motorized alternatives to passenger cars. Numerous states and communities are grappling with legislative proposals that aim to address the increasing use of LSVs and golf carts for everday travel on local streets and paths. Safety considerations need to play a more central role in the design of the transportation networks that will accommodate these vehicles and in the regulation of their use.
This Insight on the Issues describes the differences between LSVs and golf carts and provides a summary of existing federal and state regulations governing their use. Insights from four case study communities (The Villages, Florida; Peachtree City, Georgia; Western Riverside County, California; and Linton, Indiana) are featured. Based on this research, AARP’s Public Policy Institute provides policy makers and law enforcement officials with recommendations that address public education, licensing, registration and insurance, vehicle safety features, enforcement, and data collection. The authors offer city planners design recommendations for ways to accommodate these types of vehicles along streets and paths, and across intersections.
Well-designed networks for LSVs and golf carts could help fill a gap in the existing array of transportation options. They provide a convenient way for people to travel farther and faster than they would on foot or a bicycle, without having to use a car. Nonetheless, community planners, law enforcement officials, local and state policy makers, and users of these vehicles should not lose sight of the fact that these vehicles are much less safe to ride in than passenger cars. With proper planning, infrastructure design, public education, regulation, and enforcement, communities can safely accommodate LSVs and golf carts and improve the quality of life for residents of all ages.
+ Full Report (PDF)
Hunger Among Older Americans Spikes Nearly 80 Percent Since 2001
Hunger Among Older Americans Spikes Nearly 80 Percent Since 2001
Source: AARP
Nearly 9 million Americans 50 and older face the risk of hunger according to new research commissioned by AARP Foundation. The report, “Food Insecurity Among Older Adults,” found more than nine percent of older Americans were at risk of hunger in 2009—a 79 percent increase since 2001.
The research, produced by James P. Ziliak of the University of Kentucky and Craig Gundersen of the University of Illinois, is the first of its kind to examine hunger risk among people age 50 to 59—the youngest of the baby boomers. Because they are typically too young for Social Security and too old to qualify for programs designed for families with children, this age group can be hit particularly hard in bad economic times. In 2009, 4.9 million 50- to 59-year-olds were at risk of hunger, representing a staggering 38 percent increase over 2007.
State Health Insurance Exchange Websites: A Review, Discussion and Recommendations for Providing Consumers Information about Quality and Performance
A centerpiece of the recently enacted health reform legislation—the Patient Protection and Affordable Care Act (ACA)—is the creation of state-level health insurance exchanges. The exchanges must be certified by the Department of Health and Human Services (DHHS) by January 1, 2013 and fully operational by January 1, 2014. They are to provide a “one-stop” place for individuals and small employers to learn about their health insurance options and purchase the plan that best meets their needs. By design, they should offer a structured way to compare health insurance plan premiums, benefit packages, cost-sharing, and quality in order to facilitate a purchase decision. A key element of their success will be the extent to which consumers and small employers find the purchase experience to be informative and easy.
While the exchanges must undertake many important activities, those that relate to the consumer shopping and purchase decision include:
- Deciding which plans to offer
- Maintaining a website that provides plan information in a standardized format
- Operating a toll-free hotline
- Establishing a navigator program to assist consumers
This study addresses the second health exchange function: maintaining a website—with a particular focus on information about health plan quality and performance that could be made available to the public to help them select a plan. To inform the decisions states will make about the content and appearance of their websites, this study examines the current “state-of-the-art” of online consumer oriented health plan report cards available in states and nationwide.
These report cards bring various types of quality, patient experience of care and other organizational information into one consumer-oriented report available through the Internet. They usually provide information on several aspects of performance for different types of managed care plans including Health Maintenance Organizations (HMOs), Point-of-Service Plans (POS) plans, combined HMO/POS plans and sometimes Preferred Provider Organization (PPO) plans.
