By America’s Health Insurance Plans

In addition to helping cover lost wages, many disability insurers are also providing a different type of benefit that is making a positive impact in the lives of workers who have suffered a debilitating illness or injury.  Through return-to-work programs, insurers are helping people with disabilities get back to work at jobs that sync with their skills, experience, and interests.

By collaborating with employers, insurers help create work environments and schedules that are modified for individuals’ unique circumstances.  Return-to-work programs also focus on rehabilitation and equipping people with the skills they need to transition back to work and reach their individualized goals.  Additional examples of the creative and innovative programs employed by disability insurers are documented in a report by America’s Health Insurance Plans.   
 
Unfortunately, the risk of suffering a disability is much higher than most people are aware.  According to the National Association of Insurance Commissioners (NAIC), a male U.S. worker at age 35 faces a one-in-five chance of a disability taking him off his job for 90 days or longer.  Before a 35-year-old woman reaches retirement age, she faces a nearly one-in-three risk of a disability lasting at least 90 days.
 
Disability insurance provides peace of mind to millions of individuals and their families, offering financial protection if an illness or injury takes them off the job.  Employer-sponsored disability coverage provides income protection to more than 50 million employees for short-term disabilities and about 40 million employees for long-term disabilities.  In 2010, long-term disability payments from private insurers to individuals with disabilities totaled more than $8.1 billion.
 
To learn more about the value of disability income insurance and the innovative programs helping individuals get back to work, go to www.yourincomeatrisk.org or download or order a free copy of “Guide to Disability Income Insurance.”

By Katie Bryan, America Saves Communications Manager

The numbers are shocking.

• In 2012, the average credit card debt among adults aged 65+ was $9,283 (Demos).
• One-third of senior households has no money left over each month or is in debt after meeting essential expenses (Institute on Assets and Social Policy).
• The share of Americans 65 and older in the labor force went from 12.1 percent in 1990 to 16.1 percent in 2010 (Census).
• 60 percent of women over 65 across the country lack the incomes to meet basic expenses (Wider Opportunities for Women).

As part of Older Americans Month, America Saves is stressing the need for all Americans to save for their future. With Americans, especially women, living longer – the reality is that Americas need to save more money for retirement or to work longer.

Tips to Prepare to Live Debt Free in Retirement

1. Start saving, keep saving, and stick to your goals
2. Know how much you will need for retirement
3. Save at work and/or through a Roth IRA
4. Find places to cut back so you can save more

Already Retired and Need Help: You Gave, Now Save

Millions of low-income seniors continue to miss out on nearly $1.2 billion in benefits (PDF) that can help them pay for their health care, prescriptions, food, utilities, and more. These aren’t handouts—by working hard their whole lives, older adults have paid into the programs that can now provide them support needed to remain healthy and independent.

• BenefitsCheckUp —a service of the National Council on Aging (NCOA)—is the nation’s most comprehensive web-based service offering information on benefits programs, specifically programs for people with Medicare and limited income and resources.
• The Eldercare Locator, a public service of AoA and administered by n4a, is a nationwide service that connects older adults and their caregivers with information on senior services. The Locator is available both online Eldercare.gov and as a toll-free hotline at 1-800-677-1116.

About Older Americans Month

Older Americans Month is a proud tradition that shows our commitment to honoring the value that elders contribute to our communities. This year’s Older Americans Month theme—“Unleash the Power of Age!”— highlights the significant contributions made by thousands of older Americans across our nation. The event is organized by the Administration for Community Living and the Administration on Aging.

If you spend a lot on groceries, here are some useful tips for saving money at the grocery store.

If you rely on Social Security, you may be eligible for extra help with paying for prescription drugs. Apply online.

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