Health Costs, Disability Issues Cause Concern Among People Nearing Retirement
USA Today reports on new poll findings that indicate health care costs are a prominent fear among older workers. Also, Reuters reports on what might be behind the recent rise in disability claims among people in that same age group.
USA Today: Health Care Costs Worry Workers Nearing Retirement
Health care costs are a top retirement fear, and that's even though many older workers vastly underestimate how much they'll have to pay. … Nearly half of affluent Americans, who have at least $250,000 in household assets, say they are scared that rising health care costs will deplete their retirement savings, according to a Harris Poll released today by Nationwide Financial (Dugas, 5/6).
Reuters: Job Disability A Headache For Recovery
The 47-year-old from Michigan is among the 8.7 million American workers on the U.S. disability rolls, an important part of the social safety net. Since the recession began in 2007, she has been joined by a record number of people seeking disability benefits, raising questions about the program's solvency and casting a pall over future prospects for U.S. economic growth... Economists say part of the rise in disability claims may be due to people nearing retirement who ignored a health problem when the job market was strong, but then seek benefits when they lose their job as a bridge until they qualify for Social Security pension plans (Ciancio, 5/6).