2012 Discussion Archive
Social Security: It’s for young people, too
I’m a young American; I value Social Security; and this week in particular, I’m feeling reassured that Social Security is on solid footing and will be there for me when I need it. In fact, I see it as a great investment.
To some, these statements might seem unrealistic, especially given all the negative media coverage that followed the release of the 2012 Social Security Trustees Report last week. But despite the doomsday responses, the reality is actually reassuring – especially for today’s young people, who are used to hearing misleading accounts to the contrary.
Read More…World’s best investment? Delaying Social Security
That headline – atop a recent Wall Street Journal column by Jack Hough, associate editor of SmartMoney.com – pretty much says it all.
Hough writes: “For an investment return that tops those offered by hedge funds, insurance firms or Wall Street banks, baby boomers should look to Social Security… All you need is a way to make ends meet while delaying the start of Social Security benefits from age 62 to as old as 70.”
Read More…Social Security: Some Key Facts to Keep in Mind
With the release of the 2012 Social Security Trustees Report, we can expect to hear another round of sharp debates on Social Security’s financial picture. We must see to it that these discussions do not lose sight of some important facts.
Despite concerns in some quarters about Social Security’s long-term stability, the truth is that the program remains sound and, with some timely improvements, will continue to provide security to millions of Americans for generations to come.
Read More…The Affordable Care Act Turns Two
March 23rd, 2012 will mark the second anniversary of the signing of the Patient Protection and Affordable Care Act (ACA). This legislation represents one of the largest and most comprehensive reforms to the American health care system since the enactment of Medicare and Medicaid in 1965. The ACA seeks to extend coverage to roughly 50 million uninsured Americans, slowing down the growth in the cost of health care, and improving the quality of care health care by changing the delivery system.
Read More…A Young Person’s Debate
The young person’s debate on Social Security has been particularly one-sided lately. Last fall at the Harvard Institute of Politics, I helped write and analyze a poll of over 2,000 young people ages 18-29. We found that 78 percent of young people were concerned that the Social Security system would not be able to provide the benefits they expected when they retired.
The Social Security Debate and American Democracy
Social Security is not in crisis, as Ken Buffin reminded us in his presentation at NASI's 24th annual policy research conference on January 26 in Washington, DC. For the next 25 years, Old Age, Survivors, and Disability Insurance (OASDI) trust funds are 100% solvent, and beyond that window, 90% solvent for two more decades.
How Social Insurance Programs Can Reduce Health Disparities: Reflections from NASI’s 2012 Conference
I was very excited to see NASI dedicate time to health disparities and determinants of health at this year’s conference, Social Insurance in a Market Economy: Obstacles and Opportunities, because it is important to have more conversations about how social insurance programs can help reduce health disparities.
Getting the Message Right: The Communications Challenges of Social Insurance
If “market economy” isn’t the first thing that springs to your mind when thinking about social insurance, you are forgiven. Honestly, before attending the 2012 NASI annual conference, Social Insurance in a Market Economy: Obstacles and Opportunities, I was in your shoes. Having spent the last eighteen months deeply immersed in my masters of public health curriculum, I viewed social insurance as a set of policies rooted in the public sector. And while the focus on government and public policy isn’t misplaced, I was missing the broader picture of the impact of social insurance on society. Fortunately, the diverse set of presenters, policy experts, and researchers, at the 2012 NASI conference corrected my lopsided view.
How Workers’ Compensation and Other Social Insurance Programs Support Workers in their Path to Reemployment: Reflections from the 24th Annual NASI Conference
At NASI’s 24th annual policy research conference, Social Insurance in a Market Economy: Obstacles and Opportunities, Laura Fortman, executive director of the Frances Perkins Center, said that “people are resilient, creative, and want to work.” Many speakers at the NASI conference touched on the importance of creating jobs, and getting people into those jobs, while increasing demand in the economy. The working and not working population drive outcomes for social insurance programs such as workers’ compensation, Social Security disability, and unemployment insurance.
Read More…Effective Communication in Financial Planning: What I learned at NASI’s Annual Conference
Financial planning is a young and growing profession that should be in more demand as a result of recent economic turmoil; people need planners to serve as an objective source to guide their financial behaviors. Planners, and clients alike, must be aware of social insurance because these programs affect financial assumptions and projections regardless of socio-economic status. Social Security, in particular, has become a major focal point for planners and clients because the amount of benefits received will determine the amount a client needs to set aside in a savings vehicle (e.g., IRA, mutual fund, money market account, etc.).
Employers in Many States Face Tax Hike To Help Repay Federal UI Loans
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Employers in 28 states owing $38.2 billion to the federal government for unemployment insurance benefits incurred an increase in their Federal Unemployment Tax Act (FUTA) tax this week. Revenues from the tax increase will go directly toward repaying the balance of the loans. A total of 35 states opted to borrow federal dollars because their unemployment insurance trust fund reserves were insufficient to weather the recent economic downturn. The deep and prolonged Great Recession, current sluggish recovery, and continued high rate of long-term unemployment have further reduced revenues and increased outgoing unemployment insurance payments.
