ten years gone: middle- · exchanges participation based on the known issuer participation public...

Generation4Boomers.com / 3

Ten years after the financial crisis and recession thatbegan in 2007, only two percent of middle-incomeboomers feel the economy has fully recovered, while

65 percent believe they have not personally benefited at allfrom any recovery, according to a new study commissioned byBankers Life Center for a Secure Retirement (CSR). Duringthis decade, baby boomers have struggled to rebound finan-cially, and while nearly all surveyed said they still plan to retire,they have readjusted retirement expectations to meet theirnew reality.

The study, "10 Years After the Crisis: Middle-IncomeBoomers Rebounding But Not Recovered," reports thatamong boomers who believe they have not personally benefit-ted from any recovery, more than half say their savings arelower now than before the crisis, and four in 10 are not earn-ing as much. Adding to their financial burden, before the cri-sis, 45 percent of middle-income boomers—those with anannual household income between $30,000 and $100,000 andless than $1 million in investable assets—expected to retiredebt free, but today only 34 percent anticipate a debt-freeretirement. Two-thirds (68 percent) are worried about anotherfinancial crisis in their lifetime.

The study found that only 31 percent of middle-incomeboomers feel well-prepared for retirement. This uncertaintyabout achieving a personally satisfying retirement has leftmost boomers apprehensive about their investments, com-pelling them to make adjustments: 28 percent are makingmore conservative investment decisions and 26 percent nolonger invest.The study also revealed that three in 10 (34%) middle-incomeboomers plan to rely on personal savings or earnings for theirprimary source of income in retirement, down from four in10 before the crisis. This reliance appears to be shifting toSocial Security, where four in 10 (38%) middle-incomeboomers expect to rely on Social Security for their primarysource of retirement income, versus three in 10 before thecrisis. This increase in reliance on Social Security is concern-ing, as it was designed to be a safety net and not a primaryreplacement for savings or income.

Concern over having enough income to last throughouttheir retirement has led boomers to reconsider exiting theworkforce. According to the latest CSR report, before the cri-sis, 35 percent of middle-income boomers expected to workfull-time or part-time in retirement, but today 48 percentexpect to work full or part-time.

"Ten years ago, boomers had a clear vision of what a per-sonally satisfying retirement looked like," said Scott Goldberg,president of Bankers Life. "But today, many are realizing theywill not be as financially independent in retirement as theyonce expected."

Ten Years Gone: Middle-Income Boomers Struggle toRebound Financially a DecadeAfter the Economic Crisis


Less choice for consumers as issuer health plan applications drop 38 percent from last year

Now that the repeal of the AffordableCare Act has failed to pass, insurancecompanies are opting out of the healthInsurance Exchange program nationwide. The Centers for Medicare &Medicaid Services (CMS) report 141individual market qualified health plan(QHP) issuers submitted initial applications to offer coverage using theFederallyfacilitated Exchange eligibilityand enrollment platform in 2018. At theinitial filing deadline last year, 227issuers submitted an application com

pared to 141 this year, a38 percent drop in filings.

“This is further proof thatthe Affordable Care Act isfailing,” said CMSAdministrator SeemaVerma. “Insurers continueto flee the Exchanges,causing Americans to losetheir choice for health insurance or losetheir coverage all together.”

At the beginning of the open enrollmentperiod for 2017 coverage, issuer participation had fallen from 227 initial applicants to only 167 issuers actually participating, a drop of 26 percent. Each participating issuer is required to sign afinal QHP contract by the end of

September in order participate in theExchange in 2018.

Submissions were made by issuers inthe 39 states that use the FederalExchange eligibility and enrollment platform. CMS expects this number to fluctuate over the next several months as ithas in past years. Final figures will bereleased in midtolate August.

Fewer issuers apply to participate in HealthInsurance Exchanges for 2018

OUTLOOK

6 / Generation4Boomers.com

CMS has released a countylevel map of2018 projected Health InsuranceExchanges participation based on theknown issuer participation publicannouncements through July 2017. Thismap shows that insurance options onthe Exchanges continue to disappear.Plan options are down from last yearand, in some areas, Americans will haveno coverage options on the Exchanges,based on the current data.

CMS is working with state departmentsof insurance and issuers to find ways toprovide relief and help restore access tohealthcare plans, but our actions are byno means a longterm solution to theproblems we’re seeing with the

(Exchanges page 7)

County by County Analysis of Current ProjectedInsurer Participation in Health Insurance Exchanges

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Governor Brian Sandovalannounced that theMissouribased Centene

Corporation, also known asSilverSummit in Nevada, will beoffering health insurance coverageto all Nevada residents includingthose living in Carson City,Churchill, Douglas, Elko, Esmeralda,Eureka, Humboldt, Lander, Lincoln,Lyon, Mineral, Pershing, Storey andWhite Pine on the Silver StateHealth Insurance Exchange(Exchange). The Exchange isNevada’sstateagencythat helpsindividualsobtain

budgetappropriate health coveragethrough the online marketplace, NevadaHealth Link. Earlier this month, theDivision of Insurance announced that 14of Nevada’s 17 counties would be without an Exchange health insuranceoption, which would have left 8,000consumers in these counties withoutaccess to Qualified Health Plans (QHPs)and federal subsidies beginning inJanuary 2018.

“Access to quality, affordable healthcare(Health Plans page 8)

Insurance Exchanges,” saidAdministrator Verma.

The CMS map displays pointin time data and is expected to fluctuate as issuerscontinue to makeannouncements on exitingor entering specific statesand counties. It currentlyshows that nationwide 47counties are projected tohave no insurers, meaningthat Americans in thesecounties could be withoutcoverage on the Exchangesfor 2018. It’s also projectedthat as many as 1,200 counties nearly 40 percent ofcounties nationwide – couldhave only one issuer in2018.

Currently, for 2018 at least35,000 active Exchange participants live in the countiesprojected to be withoutcoverage in 2018, androughly 2.4 millionExchange participants are projected to have oneissuer. It’s expected thatthe number of consumerswith no coverage choiceswill rise.

CMS continues to workwith state departments ofinsurance and issuers toaddress bare counties,exploring all options available under current law toprovide Americans withaccess to coverage. You canlearn more by visitinghhs.gov/relief.

My Generation


Exchanges / from page 6

Centene Corporation Subsidiary SilverSummit OffersOn-Exchange Plans for 14 Bare Counties in Nevada

Connie McMullen

Chief of Staff, Mike Willden talks to the Senior Coalition about access to care in the rural markets.

should not be dependent on your zipcode or county line. The announcementwill ensure that more than 8,000Nevadans will have the ability to exercise their option to utilize Nevada’sonline marketplace and secure coveragefor their families,” said Governor BrianSandoval. “This is a fantastic time towelcome SilverSummit to our healthcare market and express the state’s sincere gratitude for stepping up, partnering with Nevada’s own HometownHealth, and providing an insuranceoption for thousands of Nevadans.”

"We are grateful that SilverSummit hasstepped up to the plate, offering reliefto thousands of residents who thoughtthey would be deprived of access tohealth insurance," said HeatherKorbulic, executive director for theExchange. "Thanks to Governor

Sandoval’s tireless and unwavering commitment to ensuring access to healthcare for all Nevadans, individualsthroughout the state will have access toqualified health plans.”

“The Silver State Health InsuranceExchange was in Crisis,” said MikeWillden, Nevada’s Chief of Staff to theGovernor. Willden made the statementat the Senior Coalition of WashoeCounty, saying the state had beeninformed that Atnea and Anthem haveboth dropped out of the program, leaving Health Plan of Nevada and Centineto provide insurance coverage in themore populated areas of Washoe, Clarkand Nye counties beginning in 2018.Anthem also announced it was pullingout of the state Medicaid program.

This is not the first time Centene hasprovided coverage in states where

insurance carriers have left the marketplace due to uncertainty surroundingthe administration's objective to repealand replace the Affordable Care Act. InMissouri, Centene offers plans in 25counties that were slated to have noinsurers on its exchange in 2018.

SilverSummit is the only carrier at thistime who will provide an insuranceoption in all of Nevada’s 17 counties.Health Plan of Nevada will provide aninsurance option in Nye, Clark, andWashoe Counties. Centene's updatedrates for Nevada have yet to beannounced.

The Exchange was established perNevada Revised Statues (NRS) in 2011by the State of Nevada, and operationsbegan in 2013, on the belief that allNevadans deserve access to healthinsurance.


Health Plans / page 7

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Every worker’s dream is to enjoy asecure retirement. Social Securityis here to help secure today and

tomorrow by updating you on newchanges that occurred this year.

This past January full retirement age fornew beneficiaries turned 66 and twomonths for people born 01/02/1955through 01/01/1956. They are eligibleto receive permanently reduced retirement benefits when they turn 62 in2017.

Full retirement age is the age at which aperson first becomes entitled to full(unreduced) retirement benefits. It hadbeen 65 for many years. However,beginning with people born in 1938 thatage has been gradually increasing untilit reaches 67 for people born in 1960and later.

As the full retirement age continues toincrease, there are greater reductions inbenefits if you claim them before youreach full retirement age. For example,if you apply for benefits in 2017 at age62, your monthly benefit amount will bereduced nearly 26 percent. You can findyour full retirement age, along withother important information, on ourwebsite (www.socialsecurity.gov/retire).

Some things you must remember whenyou’re thinking about retirement:1. You may start receiving SocialSecurity benefits as early as age 62 or aslate as age 70. The longer you wait, thehigher your monthly benefit will be.2. Your monthly benefits are reducedpermanently if you start them any timebefore full retirement age.3. If you die, your retirement date canaffect the payment to your surviving

widow or widower. If you startedreceiving retirement benefits before fullretirement age, we cannot pay your surviving spouse their full retirement agebenefit amount. We base their benefiton the amount of your reduced benefits.4. If you elect to receive benefitsbefore you reach full retirement age,you should understand how continuingto work affects your benefits.

Learn more by reading our publication,When to Start Receiving Benefits or visiting our Retirement Planner.

by Jim Borland, Assistant Deputy Commissioner

New Changes to Full Retirement Age OUTLOOKSocial Security

The nation's largest senior livingreferral service has releaseddetailed findings from its Senior

Living Preferences Survey that reveal anumber of surprising trends in seniorhousing and care, including the preference to live in walkable neighborhoods,a trend more often ascribed to millennials.

The study by A Place for Mom, showsfor the first time not only walkabilitypreferences, but how those preferencesvary by senior care needs, senior livingbudget, financial resources and age. The

study also providesdeeper insight intoother senior housing and care consumer preferences,including top priorities and variousneighborhoodcharacteristics."The findings fromthis study are significant to not justseniors and theirfamilies, but to abroad audience

who has thepotential to shapefuture developments of senior living communities,neighborhoods andcities," says CharlieSevern, head ofmarketing. "Thedata can helpinform local politicians and relevantstakeholdersbefore makingchoices aroundzoning and theallocation ofresources for public services."

Highlights from thestudy include:• Walkability isnot just for activeseniors. Strongpreference forwalkability is mostcommon among

Generations


Will 75 Million Baby Boomers' Desire forWalkability Impact City Planning?

Data shows that seniors - even those who need assistance with mobility - want walkableneighborhoods, which could significantly affect community development and design

senior apartment consumers (53%), butover a third of independent living consumers (38%) and over a quarter ofassisted living consumers (26%) show astrong preference for walkability.

• Walkability is not just for cityslickers. Consumers in both urban and ruralareas prefer walkable communities. Tothe extent that differences in preferences exist, walkability is most important to consumers who prefer urbancenters. Yet more than half of consumers who prefer suburbs, as well as athird or more of consumers who wantto live in a small town or rural area, alsostrongly prefer walkability.

• Regardless of care needs, the topthree most important neighborhoodfeatures are low crime rate, close proximity to hospitals, and close proximityto family. Over 90 percent of consumers in each senior housing and carecategory prefer a neighborhood withlow crime; same for proximity to a hospital.

(Walkable Communities page 12)

neighborhood preferences of senior living consumers, or how those prefer

ences vary by ageand senior careneeds. The studysheds new light onthe topic, providing important context for urbandevelopers as theydevelop futureplans to accommodate all generations, includingaging babyboomers. It presents an opportunity to develop sustainable, mixeduse, dense andmultigenerationalcommunities inAmerica's rapidlygrowing cities andsuburbs.

"There are obvioushealth benefits ofwalkable neighborhoods for seniors,but dense neigh

borhoods can benefit from the presenceof seniors who can reduce traffic andthe stress on local services," said LarryGerber, founder of EPOCH Senior Livingin Waltham, MA. "As more and morecities deal with the strains of rapidgrowth, they would be smart to consider creating housing and walkable communities that appeal to both seniorsand millennials."

Walkability Is Not Just for Millennials and Generation X

A Portland State University and theNational Association of REALTORS®study found millennials were almosttwo times more likely than babyboomers or the silent generation to finda walkable community "very important."Still, a sizable minority of older adults –30 percent, or tens of millions ofAmericans – care about walkability."It's time to abandon the idea that onlymillennials and Generation X care aboutwalkability and the services available indense urban neighborhoods," addsSevern. "These results show a growingset of senior housing consumers alsofind these neighborhoods desirable. It'sa trend that should be top of mindamong developers."


Generations

Walkable Communities / page 10

A Rapidly Aging U.S. Population Will Transform Housing

By 2020, nearly 56 million Americanswill be age 65 or older and many ofthose older adults will be moving intosenior housing and care.

"The population is also physically agingmore slowly, so many older adults willbe able to stay more active later in lifethan past generations," says data scientist Ben Hanowell. "Across the spectrum of care needs, older adults willhave a major impact on housing development over the next two decades. Asa society, we need to start paying moreattention to their behavior and preferences."

Positive Impact on Growing Communities

Until now, little was known about the

Senior Care Plus, a MedicareAdvantage Health Plan, held agrand opening August 19th, to

introduce its new location near theRenown South Meadows hospital campus. SCP, a division of HometownHealth, offices are now located onProfessional Circle where expandedworkspace is dedicated to 250 employees who have watched the companyoutgrow the Harvard Way location.

Jules Ackerson, Hometown HealthMarketing Business Partner, says thenew building has plenty of office space,conference areas, a bistro, and sweeping views of the South Meadows landscape. The building also has extensiveartwork by photographers who have

captured landscapes ofnorthern Nevada.

Ackerson says the idea toprovide an enhancing,beautiful workplace foremployees occurred duringa lecture presentation fromDewitt Jones, a professionalspeaker/photographer.Jones created a nonprofitcalled Healing Images, photographic images to healpeople.

Jones, a former NationalGeographic photographer,has over 700 images donated by top photographers forplacement in healthcarefacilities to promote healingand wellness. The picturescreate a breathtakinggallery from every region ofthe country designed to

heal the soul.

Ackersonpurchasedover 200images forthe building;many photographedlocally featuring LakeTahoe anddesert landscapes ofrural Nevada.The images are grouped with other likephotos depicting Nevada. A conferencearea on the first floor is called the GreatBasin Auditorium, while other areas of

the building are called Sagebrush,Pinion, Aspen, Bristlecone, Zephyr,Birch, and Battle Born.

Jones created Healing Images in 1995when a hospital administratorapproached him with the idea. Bothpatients and staff benefit from healingimages. Patients have less anxiety andstress, need less pain medication, have

lower blood pressure, and a higher satisfaction of their experience in the hospital. While healthcare facility workers

(Artwork page 14)


Senior Care Plus Opens New OfficeWith Artwork from Renown Photographer

By Connie McMullen

Dewitt Jones, 2005.

New Senior Care Plus building on Professional Circle.

Image of Lake Tahoe shot by Dewitt Jones.

are more positive and satisfied withtheir work experience.

“Whether it is a sterile patient room, anendless corridor, a bland day room, oran artless treatment room that needs

visual relief, ourphotographic artwill change theview and soothethe spirit,” Jones

writes on the Healing Images websitefound at Healingimages.org. “Our artwill connect patients, staff and visitorswith the magic of the outdoors, andwith the healing power of nature.”

The SCP offices are located at 10315

Professional Circle, Reno, NV 89521.Hours of operation are: Mondaythrough Friday, 8–5 p.m. You do notneed an appointment. PhoneSCP/Hometown Health at 7759823232.

Established in 1988, Hometown Healthis the insurance division of RenownHealth and is northern Nevada’s onlylocally owned, nonprofit insurancecompany providing wideranging medical coverage.


Jules Ackerson poses infront of art at the Senior Care Plus building.

Artwork / from age 13


Memory loss results whenAmyloid plaque builds up inthe brain and impairs synap

tic neuron connections. (Shankar GM, LiS, Lemere CA, et al. 2008.) To improvememory, synapse connections must bestrengthened. Tracing Brainpaths textured devices accesses 3000mechanoreceptors in each fingertip,providing a superhighway to the sensorycortex of the brain strengtheningsynapse connections, just like Braille.

Fingertip tracing to strengthen synapseconnections, using repetitive fingertiptracing exercises, was discovered in1997 by Johns Hopkins Krieger BrainInstitute. Through sensory stimulation

and repetitious mind exercises resultingfrom repetitive finger movement, memory is increased, cognitive abilitiesimproved, and anxiety, depression andstress released (Brainpaths.com).

The costs of caring for people withdementia in the United States in 2010were between $159 billion to $215 billion, and those costs could rise dramatically with the increase in the numbersof older people in coming decades.The researchers found these costs ofcare comparable to, if not greater than,those for heart disease and cancer.Rates of dementia increase with age,and unless new ways are found to treatand effectively prevent it, national

health expenditures for dementia couldcome close to doubling by 2040, as the

(Falling page 17)

Brainpaths Fingertip Tracing: Improves Memory,Strengthens Synapse Connections

GOOD HEALTH

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