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Happy today, nervous about health and money tomorrow: an Aging in America update

Most older Americans 60 years of age and up (57%) say the last year of their lives has been “normal” – a large increase from the 42% who said life was normal in 2012. And nearly 9 in 10 older Americans are confident in their ability to maintain a high quality of life in their senior years. The good news is that seniors are maintaining a positive outlook on aging and their future. The downside: older people aren’t doing much to invest in their future health for the long run. They’re also worried about the financial impact of living longer.

 

The health/wealth disconnect in America

Two in 3 Americans are uncomfortable with their financial situation. And most are totally oblivious to how much money they will need to spend on health care in the future. Seven in 10 people expect to spend less than 10% of their monthly retirement income on medical and dental expenses; but the real number is 30% of income needed for health care in retirement, according to The Urban Institute. The Wellness for Life survey, conducted for Aviva, the life and disability company, collaborating with the Mayo Clinic, finds an American health citizen out of touch with their personal health economics.

 

Americans feeling more financially insecure

One in three workers does not feel financially secure. The proportion of Americans who feel “not at all secure” grew to 16% from 12% between 2011 and 2012, based on the question, “When it comes to paying your bills and keeping up with living expenses, how financially secure do you feel these days?” Women are much more likely than men to feel financially insecure, representing a 33% growth rate in financial insecurity. These sobering financial statistics come to us from the UNUM study, 2012 Employee Education and Enrollment Survey: Employee Perspectives on Financial Security, published May 8, 2013. Based on the question asked – paying

 

Health is wealth and wealth, health

It’s America Saves Week (February 25-March 2, 2013). Do you know what your savings rate is? If you’re in the center of the American savings bell curve, you probably don’t have a savings plan with specific goals and don’t know your net worth. Two-thirds of U.S. adults say they have sufficient emergency savings for unexpected expenses like a visit to a doctor. However, only one-half of non-retired people believe they’re saving enough for a retirement where they’ll have a “desirable standard of living.” This six annual survey by the Consumer Federation of America, the American Savings Education Council, and the

 

Health care cost illiteracy: consumers feel the pinch of growing costs, but don’t understand the “why?”

Health care costs for workers lucky enough to receive health insurance at work nearly doubled since 2002. Wages in that decade grew by 33%. This growing affordability gap between health costs vs. wages is shown in the chart. Health consumers in America sharply perceive this gap, according to an analysis of eight focus groups, Consumer Attitudes on Health Care Costs: Insights from Focus Groups in Four U.S. Cities from the Robert Wood Johnson Foundation. To health-covered workers, though, health care “costs” are defined as out-of-pocket health spending for insurance premiums, co-payments and deductibles that come out of paychecks and pocketbooks — not

 

Butter over guns in the minds of Americans when it comes to deficit cutting

Americans have a clear message for the 113th Congress: I want my MTV, but I want my Medicare, Medicaid, Social Security,   health insurance subsidies, and public schools. These budget-saving priorities are detailed in The Public’s Health Care Agenda for the 113th Congress, conducted by the Kaiser Family Foundation, Robert Wood Johnson Foundation, and the Harvard School of Public Health, published in January 2013. The poll found that a majority of Americans placed creating health insurance exchanges/marketplaces at top priority, compared with other health priorities at the state level. More people support rather than oppose Medicaid expansion, heavily weighted toward 75%

 

Health as long-term deficit driver – the CBO points out tough choices

There are many forks in the road facing us in the U.S. for deficit reduction, as the picture shows. This is the cover graphic for Choices for Deficit Reduction, a report from the Congressional Budget Office (CBO) published November 2012. Those roads could be labeled “Medicare” and “Medicaid,” as health is the #1 deficit driver for the American economy — most notably, Medicare and long-term care services financed via Medicaid. The CBO expects that per capita spending on health care, already at 18% of the national economy in 2012, will continue to grow faster than spending on other goods and

 

Americans’ top financial concerns are money for retirement and health care

It’s the morning after the historic 2012 Presidential Election, with President Barack Obama winning a second term in the face of a sputtering economy and eventual Fiscal Cliff as of December 31, 2012. As we toast with our beverage of choice that night, we will also be worrying about our top financial concerns: how we’ll fund our retirements, and how we’ll pay for health care eventually, and now while we’re actively employed. The Harris Poll of November 5, 2012, reveals that 3 in 4 people in the U.S. who aren’t yet retired worry they won’t have enough money to slow

 

Consumers blame insurance and pharma for health costs, but love their primary care doctors

The 78% of U.S. adults with primary care physicians (think: medical homes) are very satisfied with their doctors’ visits. The main reasons for this high level of satisfaction include communication (listening, talking), customer service (caring, personable), and clinical (good diagnosis and treatment). More women than men have a primary care physician relationship, more college grads do, and more people with incomes of $75,000 a year or more do, as well. 90% of those 55 and over have a primary care doctor – a stat heavily influenced by the fact that Medicare coverage kicks in for older people. This consumer profile

 

What’s on senior Americans’ minds? Medicare and money

What’s keeping seniors up at night when it comes to retirement? #1, according to 6 in 10 seniors, is the future of Medicare, followed by having enough money to enjoy retirement. In particular, 61% of seniors are concerned about future out-of-pocket health care costs. It’s all about Medicare and money for U.S. seniors, found in the Allsup Medicare Advisor Seniors Survey, Medicare Planning and Trends Among Seniors, published in October 2012. Medicare could be the most beloved government program ever, as 89% of seniors say they’re satisfied with Medicare coverage. Given the program’s shaky financial future, Allsup wanted to get

 

Aging in the US – seniors are health-confident, less financially so

Most seniors look forward to aging in place, and are confident in their ability to do so. Such is the top-line feel-good finding from the National Council on Aging‘s (NCOA) survey, The United States of Aging, sponsored by USA Today and United Healthcare. A majority of seniors have a sense of purpose and plans for their future. Three-fourths of older Americans say staying physically fit through exercise and proactively managing their health is important. However, only 36% of seniors say they exercise or engage in physical activity every day. 11% never do. The most common chronic conditions noted by seniors

 

Thinking about Dad as Digital “Mom”

What is a Mom, and especially, who is a “Digital Mom?” I’ve been asked to consider this question in a webinar today hosted by Enspektos, who published the report Digging Beneath the Surface: Understanding the Digital Health Mom in May 2012. I wrote my review of that study in Health Populi here on May 15. In today’s webinar, my remarks are couched as “Caveats About the Digital Mom: a multiple persona.” Look at the graphic. On the left, the first persona is a mother with children under 18. Most “mom segmentations” in market research focus on this segment. But what

 

Rising cost of healthcare a headache among affluent Americans

For the third year in a row, wealthy Americans cite increasing health costs as their top financial concern. Furthermore, 1 in 3 affluent Americans are more concerned about the financial stress that could accompany a health event than they are about how that condition could affect their quality of life. Merrill Lynch Wealth Management, part of Bank of America, conducted the firm’s annual poll among 1,000 Americans with investable assets of at least $250,000, in December 2011. The investment firm has looked at richer Americans’ views on financial concerns since 2009. The chart shows rising health care costs to be

 

Michael Graves: architect-turned-health designer at Social Media Week

Michael Graves is one of the greatest architects of our, or any, time. He is now dedicating himself to re-imagining what the patient’s experience in a hospital room can be: not just less humiliating and frustrating, but in fact a healing experience in an aesthetically comforting and user-friendly environment. Graves, longtime affiliated with Princeton University, is famous among mainstream consumers as one of Target’s first designers of home products for the past 13 years, from teapots and cooking gear to kitchen cleaning accessories. Sadly for us mass consumers, this will be his last year of designing for Target. He told the

 

Designing health technology for people at home

The Internet, broadband, mobile health platforms, and consumers’ demand for more convenient health care services are fueling the development and adoption of health technologies in peoples’ homes. However, designing products that people will delight in using is based on incorporating human factors in design. Human factors are part of engineering science and account for the people using the device, the equipment being used, and the tasks the people are undertaking. The model illustrates these three interactive factors, along with the outer rings of environments: health policy, community, social, and physical. Getting these aspects right in the design of health technologies meant for

 

Unretirement: the number of Americans planning to retire at 67 is plummeting

Two publications this week reinforce the new reality of health and financial insecurity: The Vanishing Middle America issue of Advertising Age (October 17, 2011 issue) and the Sun Life Financial U.S. Unretirement Index – Fall 2011 with the subtitle, “Americans’ trust in retirement reaches a tipping point.” The chart shows the retirement coin’s two sides: since 2008, the proportion of people in the U.S. who expect to retire by 67 dropped from 52% down to 35%; and, those who believe they will be working full-time (I emphasize “full,” not “part,” time) grew from 19% to 29%. 61% of working Americans plan to

 

A long-term care crisis is brewing around the world: who will provide and pay for LTC?

By 2050, the demand for long-term care (LTC) workers will more than double in the developed world, from Norway and New Zealand to Japan and the U.S. Aging populations with growing incidence of disabilities, looser family ties, and more women in the labor force are driving this reality. This is a multi-dimensional problem which requires looking beyond the issue of the simple aging demographic. Help Wanted? is an apt title for the report from The Organization of Economic Cooperation and Development (OECD), subtitled, “providing and paying for long-term care.” The report details the complex forces exacerbating the LTC carer shortage, focusing

 

Verizon expanding into remote and mobile health for senior living – what it means for healthy aging and medical costs

The announcement that Verizon, the telecommunications giant, will partner with Healthsense, a home health monitoring company, indicates that the adoption of telehealth services beyond project pilots and government-funds required to bolster the market is real. Verizon is upgrading the FiOS network, which it will extend to senior housing and assisted living communities that would use Healthsense’s suite of remote health monitoring, personal emergency response systems, wireless nurse call, and wellness monitoring products. The broadband FiOS network is upgradeable to 100 megabits per second, which would enable the bandwidth required by home health technologies that require high performance and reliable network connectivity. These

 

The Post-Health Plan Health Plan: Humana

“If nothing else, the health reform bill has signaled the beginning of the end of the health plan as we know and love it,” David Brailer, once health IT czar under President GW Bush and now venture capitalist, is quoted in Reuters on Hot Healthcare Investing Trends for 2011. One health plan Brailer called out that could be relevant in the post-reform, post-recessionary US health world is Humana. I had the opportunity to spend time with Paul Kusserow, Chief Strategy Officer for Humana, during the HIMSS11 meeting. Our conversation began with me asking why the chief strategist for Humana would

 

Caregiving, enabled through technology and trust

Caregivers identify the most helpful technologies that benefit them in providing care to family and friends as personal health record tracking, medication support, caregiving coordination, and monitoring and transmitting symptoms. These technologies are seen to help caregivers save time, make caregiving logistically easier, make the care recipient feel safer, reduce stress and enhance feelings of being effective. The most formidable obstacle preventing caregivers from adopting beneficial technologies is cost, followed by the technology not addressing the caregiver’s most pressing challenges, care recipient resistance to using the device, privacy issues, diminishing the care recipient’s sense of independence and pride. The National Alliance

 

Dis-connected health – interest in remote health monitoring falls with age

The majority of Americans generally like the idea of remote home monitoring for health. 3 in 5 adults (62%) across all age groups say communication with doctors via home monitoring devices would improve their health. However, only 35% of people age 65 and over are interested in home health monitoring. Interest in remote home health monitoring decreases with age. The disconnect is that 90% of Americans age 65 and older have at least one chronic health condition, according to the Centers for Disease Control. Practice Fusion commissioned a survey from GfK Roper in November 2010 through the GfK Omnibus survey among 1,008 adults

 

Be Thankful: Engage With Grace

Now that the turkey, champagne, stuffing and other glorious carbs have been consumed. the real dessert is whipped cream on the pumpkin pie: the gift of a conversation about Life and Grace. We each have our stories about how a loved one’s life has ended. If we’re lucky, that beloved person had a good death: in sleep, perhaps, or of simply old age with no hospital events or trauma. Then there are the Rest-of-Us who have the stories of long and painful endings. When you’re already in the situation of making tough health decisions, it’s tough, it’s emotional, it’s irrational,

 

Caregivers use online and social media for long-term care information

Most caregivers involved with home care services would be inclined to dialogue with other caregivers in an online forum or social networking site, according to a  survey, How the Web and new social media have influenced the home care decision-making process, from Walker Marketing, Inc. Furthermore, 91% of caregivers would be likely to conduct research after receiving a provider referral by a professional source; while 78% would rely on a physician for recommendations, caregivers ultimately make their own decisions on long-term care providers. Websites are generally considered highly credible by caregivers, and are important sources of information for engaged caregivers on sources

 

The biggest consumers of prescription drugs, seniors, need patient-centered medical homes, too

“The use of medications in older patients is arguably the single most important health care intervention in the industrialized world,” Dr. Jerry Avorn asserts in a concise analysis called Medication Use in Older Patients in the October 13, 2010, issue of the Journal of the American Medical Association (JAMA). Since the population over 65 is the biggest consumer of health care services (and thus, driver of costs), and continues to grow, the segment commands the attention of health system stakeholders: policymakers, payers, medical schools, and pharmaceutical drug researchers. Medicare Part D, which covers payment for seniors’ drug costs, put the Federal government in the

 

Seniors Are Happy With Rx Plans, Five Years After Part D Begins

Contrary to stereotypes, older people can adapt, learn, and use new products and services. The introduction of Medicare Part D five years ago was an experiment in public policy, with some policymakers fretting about seniors’ ability to navigate a new system. It appears Medicare Part D is a hit, and people are working well with it across gender, age cohorts, incomes (from very low to upper-income strata), educational levels, and especially very sick and disabled people. Among all seniors, 90% have prescription drug coverage. 61% of U.S. adults 65 and over have a Medicare prescription drug plan, 16% are covered by an employer-sponsored

 

Can GE, Intel and Mayo bring good things to home monitoring?

Three major consumer and health industry brand names are coming together to launch a telehealth home monitoring project: GE, Intel and the Mayo Clinic. Each organization has a deep bench and history in the health vertical, covering different segments of the market. With this project, 3 industry leaders partner to learn about home health monitoring’s challenges and opportunities in real-life, with real people. The project goal is to evaluate the effectiveness of daily in-home monitoring technology measured in 2 ways: reduced hospital admissions and reduced visits to the emergency room. For the project, Intel brings its Health Guide into the

 

Being Digital Doesn’t Always Mean You’re Young, Demographically Speaking

Being younger demographically doesn’t mean you’re younger, digitally-speaking. Your Real Age isn’t your Digital Age, according to Wells Fargo‘s survey into Americans’ use of advanced tools for daily tasks. The categories of peoples’ digital maturity include: – Digital teens, who are people who are online but don’t use all tools at a ‘high level’ – Digital novices are those people who manage basic tasks online but aren’t yet connecting with others online or managing more complex tasks – Digital adults have the highest digital age, as demonstrated by their using online tools for daily tasks, interacting with others online, and

 

Caregiving in the USA – the burden intensifies, and technology’s promise

29% of people in the U.S. have served as unpaid family caregivers in the past year. That’s 66 million people, mostly female (66%), middle age (on average 48 years old), usually taking care of a relative (86%).These sobering stats come out of Caregiving in the U.S. 2009, a study from the National Alliance for Caregiving in collaboration with AARP. The research, funded by the MetLife Foundation, follows up a similar study in 2004 and shows the proportion of Americans caregiving has substantially changed over the past five years.But both caregivers of adults and those for whom they provide care are

 

Aging, economics and consumer-generated media — implications for health

Advertising Age analyzes census data on aging and diversity in America, and comes up with some interesting conclusions for consumer marketers. Here at Health Populi, we’re all-health, all-the-time, so I’m going to discuss author Peter Francese’s findings through our health lens. In addition, McKinsey published its insights into aging boomers in the report, Talkin’ ‘Bout My Generation, which I will also discuss. Francese begins with the one-two punch that marketers in the U.S. are already faced with the economic downturn coupled with consumer-generated media (e.g., blogs, online videos, e-pinions.com, ad infinitum). The third challenge to add to these two market-shapers