{"id":373222,"date":"2021-11-27T18:21:00","date_gmt":"2021-11-27T15:21:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/build-back-better-whats-in-it-for-seniors\/"},"modified":"2021-11-27T18:21:00","modified_gmt":"2021-11-27T15:21:00","slug":"build-back-better-whats-in-it-for-seniors","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/build-back-better-whats-in-it-for-seniors\/","title":{"rendered":"#: Build Back Better \u2014 what\u2019s in it for seniors?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a316b537d434\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a316b537d434\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/build-back-better-whats-in-it-for-seniors\/#These_provisions_would_help_current_and_future_retirees_%E2%80%94_if_they_pass_the_Senate\" >These provisions would help current and future retirees \u2014 if they pass the Senate<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/build-back-better-whats-in-it-for-seniors\/#Alessandra_Malito\" >Alessandra Malito<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#: Build Back Better \u2014 what\u2019s in it for seniors?<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"These_provisions_would_help_current_and_future_retirees_%E2%80%94_if_they_pass_the_Senate\"><\/span>\n  These provisions would help current and future retirees \u2014 if they pass the Senate<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\" role=\"region\" aria-label=\"article body\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000497377\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000497377\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       The House-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved Build Back Better plan would improve retirement security in more ways than one \u2014 that is, if those retiree-friendly provisions pass through the Senate.\u00a0<\/p>\n<p> The $2 trillion spending bill, which recently passed in the House and is now awaiting revisions or approval in the Senate, includes proposals related to climate change, universal preschool, Medicare expansion and tax credits. Experts say older Americans could benefit from the bill \u2014 if certain provisions are left as is \u2014 in areas such as healthcare, affordable housing and long-term care.\u00a0<\/p>\n<div class=\"paywall\">\n       There\u2019s no doubt one of the most important aspects of retirement planning is how much people save for their future \u2014 after all, how much they can invest in a 401(k) or individual retirement accounts over their lifetimes dictate just how comfortably they\u2019ll be living. But Americans also need to consider what healthcare options are available to them, what sort of coverage they\u2019ll be able to receive and what they\u2019ll do when they can no longer care for themselves.\u00a0<\/p>\n<p>Here are a few ways the Build Back Better plan addresses retirees:\u00a0<\/p>\n<p><strong>Prescription drugs\u00a0<\/strong><\/p>\n<p>The Build Back Better Act would allow Medicare to negotiate drug prices for medications available at a pharmacy or doctor\u2019s office. The current process for determining drug prices varies for the type of medication and how long they have been on the market. This bill offers a few changes, such as imposing a penalty fee for drug companies that raise their prices faster than inflation and laying out the framework for price negotiations.\u00a0<\/p>\n<p>\u201cWe will finally put an end to the days where drug companies could raise their prices with impunity,\u201d the White House said in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/11\/02\/president-biden-announces-prescription-drug-pricing-plan-in-build-back-better-framework\/\" class=\"icon none\">a statement<\/a> about its Build Back Better provisions on prescription drugs.\u00a0<\/p>\n<p>The plan would also lower the cost of insulin \u2014 a common expense for retirees, as well as younger Americans, said Max Richtman, president and chief executive officer of the National Committee to Preserve <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security and Medicare. This provision would begin in 2023, requiring insulin to be no more than $35 per month. \u201cI just talked to someone paying 10 times that for her insulin,\u201d Richtman said. <\/p>\n<p>The White House said it was working to lower out-of-pocket healthcare expenses for seniors, who currently have no cap on how much they pay for their medications. The plan would limit these costs to $2,000 per year under Medicare Part D, the section that covers prescription drugs.\u00a0<\/p>\n<p><strong>Hearing aids\u00a0<\/strong><\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Medicare currently does not cover hearing, dental or vision but the Build Back Better plan addresses costs for hearing. Changes would not begin until 2023, but it would allow for coverage of hearing aids \u2014 an expense that can range drastically, from $1,000 to a few thousands of dollars.\u00a0<\/p>\n<p>\u201cWe\u2019d like to see vision and dental under Medicare as well, but the hearing care is a positive step,\u201d said Richard Fiesta, executive director of the Alliance for Retired Americans.\u00a0<\/p>\n<p><strong>Long-term care<\/strong><\/p>\n<p>The spending bill earmarked $150 billion for in-home and community services through Medicaid over the next decade.\u00a0<\/p>\n<p>Americans don\u2019t always consider long-term care when making their retirement plans, but they should. Already, a 65-year-old couple retiring could expect to pay $300,000 in retirement for healthcare alone, but that doesn\u2019t include the costs of an in-home aide or nursing home, which could amount to thousands of more dollars every month.\u00a0<\/p>\n<p>The 6% annual increase in funding to these programs would assist in hiring qualified individuals to provide in-home and community service care, as well as provide grants to states and community organizations, Richtman said. The plan would also extend protections against spousal impoverishment for those who are receiving in-home and community-based care.\u00a0<\/p>\n<p><strong>Paid family leave\u00a0<\/strong><\/p>\n<p>If passed, the bill would allow family caregivers four weeks of paid leave, benefiting Americans with children as well as older relatives. \u201cThe need for more long-term care is important in an aging society, and also the ability to sustain a stable workforce,\u201d Fiesta said.\u00a0<\/p>\n<p><strong>Affordable <\/strong><strong>h<\/strong><strong>ousing\u00a0<\/strong><\/p>\n<p>The Build Back Better plan includes additional funding, in the tune of $500 million, for HUD 202 housing, a program that benefits low-income older individuals, said Lisa Sanders, director of media relations at LeadingAge, a professional network of organizations focused on aging. Affordable housing for low-income older adults is a sector that will continue to grow, Sanders said. \u201cMore people can\u2019t afford to live in their homes as they get older.\u201d\u00a0<\/p>\n<p>Although many Americans want to age in place, such as living in their homes the rest of their days, not everyone can do so. For some, it\u2019s a matter of health and support \u2014 they need to relocate to a place where they\u2019ll get extra assistance with daily living, such as bathing or feeding. For others, it\u2019s a matter of expense, such as if one spouse dies and the other is unable to afford the home or if their retirement income, including Social Security and any savings, isn\u2019t enough to support their current housing budget.\u00a0<\/p>\n<p>Plenty of older Americans are already teetering on poverty lines. About 15 million people aged 62 and older were living in poverty in the United States in 2020, according to the Retirement Equity Lab at The New School. That figure is expected to jump 67% \u2014 to 25 million Americans \u2014 over the next decade. Another analysis, out of the Center for Budget and Policy Priorities, found without Social Security, more than 40% of elderly individuals would be in poverty.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Alessandra Malito\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/alessandra-malito\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/malito_ali\",\"text\":\"@malito_ali\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:amalito@marketwatch.com\",\"text\":\"amalito@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Alessandra_Malito\"><\/span>Alessandra Malito<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7796-E1DCD781B4E1%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#: Build Back Better \u2014 what\u2019s in it for seniors?&#8221; These provisions would help current and future retirees \u2014 if they pass the Senate The House-approved Build Back Better plan would improve retirement security in more ways than one \u2014 that is, if those retiree-friendly provisions pass through the Senate.\u00a0 The $2 trillion spending bill,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":373223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-440294\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-373222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/373222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=373222"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/373222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/373223"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=373222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=373222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=373222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}