IRA and 401(k) Ownership
Participation of workers in individual-account 401(k)-type plans, which had grown sharply through the 1990s, leveled off from 2005 to 2009. Ownership of individual retirement accounts (IRAs), which had also risen significantly in the 1990s, experienced a slight decline from 2005 to 2009, according to a new report by EBRI. Press release
Health Coverage by Month
Since 1995, the percentage of workers both with and without health insurance coverage has tracked closely with the unemployment rate, according to a new analysis of monthly data by EBRI. While the link between employment and health coverage is well-documented, EBRI’s new report tracks the data on a monthly basis to show the direct correlation. Currently, despite signs of economic recovery from the 2008-2009 recession, employment-based health insurance coverage remains well below the levels of the 1990s. Press release
2011 Health Confidence Survey: Most Americans Unfamiliar With Key Aspect of Health Reform
One year after Congress passed its landmark health reform law, the American public remains largely in the dark about one of the key elements of the law—health insurance exchanges. And despite the deep divisions and partisanship over enactment of the health reform law, public opinion about the U.S. health care system itself is little changed: It has neither fallen nor increased as a result of passage of health reform. Press release
Is There a Future for Retirement?
With more older Americans remaining in the work force, retirement ages increasing for full benefits, and cutbacks looming in federal social insurance programs, the question is being asked: Is there a future for retirement in the United States? This article summarizes presentations and discussions at EBRI’s spring 2011 policy forum on that topic, which was explored by a broad range of experts who discussed a variety of key issues related to America’s aging work force and the implications of working longer. Press release
The Impact of Repealing PPACA on Savings Needed for Health Expenses for Persons Eligible for Medicare
New modeling by EBRI finds that Medicare beneficiaries with high levels of prescription drug use would have to save 30-40 percent more than they currently are to pay for higher drug costs if President Obama’s health reform law is repealed. Medicare beneficiaries with median prescription drug costs would not see any change in their savings targets, EBRI’s analysis finds. EBRI takes no position on whether or not the law should be repealed; rather, its analysis is designed to measure which groups would be affected and provide estimates of additional savings needed by those who would be affected if it was.
The Importance of Defined Benefit Plans for Retirement Income Adequacy
Baby Boomer and Generation X households that have a defined benefit (DB) pension plan accrual at retirement age are overall almost 12 percentage points less likely to be “at risk” of running short of money for basic needs and uninsured health costs in retirement, according to a new report by EBRI. The report finds that having a DB pension plan is particularly valuable for those with the lowest income in both age groups, but also has a “strong impact” on reducing at-risk rates for those in the middle class: Among those in the second- and third-income groups combined (covering middle-income workers), the combined relative at-risk reduction is almost 20 percent.
Tax Cap: A new analysis from EBRI finds that the National Commission on Fiscal Responsibility and Reform proposed tax reform for 401(k)-type retirement plans would cause the greatest reduction in retirement savings for both the highest- and lowest-income workers.
Union Health Insurance: Both union and nonunion employment-based health benefits were affected by the recent economic recession—but unionized worker health insurance coverage suffered less, according to a new analysis from EBRI.
