2020 Election Issues

There just a few days left in this year’s election season. “Thank Goodness!”.  So, what are the major concerns for seniors during this cycle? “The Upside of Down Sizing” lists the following four issues:

• Coming in at #1 (to no one’s surprise) is Social Security.  59% of seniors declare social security is their sole means of income. The main worries are privatization and maintaining the annual cost-of-living.
• Medicare comes in at #2. The concerns are controlling future costs while not cutting benefits.
• #3 is Prescription Drugs. The CDC reports that 10.4% of seniors, 65 and over, skip taking medications as prescribed, to help control costs.  The issues are that out-of-pocket expenses be controlled, and cutting the costs of the medications.
• Long Term Care comes in at #4.  With the “Baby Boomers” increasing the need for long term care, there is a lot of pressure on the long-term caregiving profession. Currently Medicare does not cover the costs and Medicaid requires the meeting of a very low poverty level, making the average boomer unable to afford the care.  Neither party has a current plan to resolve the issues.  The 2016 Republican platform mentions a plan, but no action has been taken.