National survey of women ages 25+ finds strong
bipartisan support for improving Medicare to cover home care
and treatment for chronic diseases
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Key takeaways
- Half of women say they feel "uncertain" or "worried" when they
think about how prepared they are for health costs later in life,
and low-income and rural women report challenges to staying healthy
today.
- Compared to 2023, fewer women consider themselves financially
secure, and they are not confident about how to plan and save for
retirement, with the cost of housing and cuts to Medicare and
Social Security being top concerns.
- Of 12 federal policies tested, the most important for women are
providing government assistance for low-income adults, improving
Medicare and Medicaid to cover home care, and expanding Medicare to
cover the full range of treatments for chronic diseases.
ARLINGTON, Va., April 16,
2024 /PRNewswire/ -- A national survey of women ages
25+, commissioned by the National Council on Aging (NCOA) and
Women's Institute for a Secure Retirement (WISER), finds that
American women continue to face significant economic stress, and
they are concerned about how to pay for health care and other daily
expenses in retirement. Across demographic and party lines, women
express strong bipartisan support for federal policy solutions that
could help.
"Health and financial security are the
bedrocks of a good quality of life." -- Ramsey Alwin
For the second year in a row, What Women Say™:
Insights and Policy Solutions for Lifelong Security asked women
about their financial situation today and how they feel about
their future. This year's survey also included a new set of
questions about women's health. The online poll—conducted by the
bipartisan team of Public Opinion Strategies and Lake Research
Partners—also explored women's support for 12 potential policy
solutions.
"Health and financial security are the bedrocks of a good
quality of life—regardless of age," said Ramsey Alwin, NCOA President and CEO. "It's
troubling to hear that women across the lifespan—especially those
with lower incomes—continue to struggle, making it extremely
difficult for them to prepare for retirement. We must do more to
ensure every woman has the resources to age well."
"The survey points to ways we can change women's retirement
prospects," said Cindy
Hounsell, President of WISER. "We can remove the barriers
and improve the safety net that so many low- and moderate-income
women depend on. We can increase access to retirement plans and
provide outreach and information to help women improve their
financial decision-making. Clearly, we must begin to make the
future more secure for women of all ages and incomes."
Key Health Findings
Women are candid about their fears
and concerns when it comes to their health.
- From a list of words, women select "uncertain" and "worried"
the most when asked how prepared they are for health costs later in
life.
- Women rate their general health worse than their mental health,
and low-income and rural women rate their general and mental health
a net negative.
- In the past year, roughly 1 in 3 women report having
experienced delays in access to health care or food insecurity
issues, and 1 in 5 report delays in filling prescription
medicines.
- Women view having a low-income as the most negative influence
on a person's health. Being a woman, having a low education, and
being Black or Hispanic are also viewed as net negatives.
Key Financial Security Findings
For the second year in
a row, American women report substantial economic stress.
- Less than half (49%) of women and only one-third of rural women
report having saved for retirement.
- Majorities report they are not financially secure, including
79% of low-income women and 67% of rural women.
- Low-income White and Hispanic women report their financial
security to be worse compared to last year.
- More than 7 in 10 low-income women say they are not confident
about their ability to plan and save for retirement.
- Roughly one-third of all women and half (49%) of low-income
women say their retirement income or savings will not be enough to
pay their monthly bills—an increase from 2023.
"Nearly 6 in 10 (59%) women and 81% of low-income women told us
they do not make enough money right now to save for retirement,"
said Bill McInturff, Partner at
Public Opinion Strategies. "Food insecurity also is a reality for
about half of low-income Hispanic and White women. These facts
directly impact a woman's ability to plan and save for
retirement."
Support for Policy Solutions
The survey asked women
to express their level of support for 12 potential policy
solutions, understanding that these new solutions would likely have
a cost associated with them and may require new federal government
spending or reductions in spending on other federal programs in
order to pay for them. Across party and demographic lines, vast
majorities of women supported the solutions. The top 8 include:
Medicare proposals
- Expand Medicare coverage, so beneficiaries have access to the
full range of care and treatments for serious chronic diseases.
(69% strongly support, 95% total support)
- Improve Medicare and Medicaid to better ensure that older
adults have the option to receive care at home rather than having
to go into a nursing home. (68% strongly support, 94% total
support)
- Strengthen Medicare efforts to help low-income older adults
sign up for benefits they are eligible for but are not currently
receiving. (67% strongly support, 94% total support)
- Strengthen Medicare by adding health promotion and disease
prevention programs to help people better manage their chronic
diseases, lessen their risk of falls, and reduce social isolation.
(65% strongly support, 94% total support)
Non-Medicare proposals
- Provide a tax break to family caregivers to help cover the
out-of-pocket costs of providing care to a seriously ill, disabled,
or elderly loved one. (66% strongly support, 96% total
support)
- Modernize and update the federal Supplemental Security Income
program that pays monthly benefits to people with limited income
and resources who are disabled, blind, or age 65 or older. (66%
strongly support, 94% total support)
- Provide government assistance to lower income older adults to
help pay for basic needs, such as food, housing, and
transportation. (64% strongly support, 93% total support)
- Address elder care and disability care workforce shortages by
ensuring that home care workers receive a livable and competitive
wage of at least $18-$20/per hour along with health insurance,
retirement, and other key employment benefits. (62% strongly
support, 92% total support)
"For six of the policy proposals we tested in 2023 and 2024, the
intensity of support increased," said Celinda Lake, President, Lake Research Partners.
"Clearly, women know what they need, and they are likely to vote
with these issues in mind."
Methodology
This research was conducted online
March 2-13, 2024 by Public Opinion
Strategies and Lake Research Partners. The national mixed mode
survey included 1,022 women ages 25 and older with oversamples of
rural women (n=314) and low-income women by ethnicity (White=260,
Black=241, Hispanic=203). The survey asked respondents to
identify if they were Republican, Independent, or Democrat.
"Low-income" was defined as an individual with $25,000 in income per year ($50,000 for two or more people in a household),
self-identify as lower income, working class, or middle class, and
either do not have any retirement savings or have retirement
savings of $5,000 or less.
About NCOA
The National Council on Aging (NCOA)
is the national voice for every person's right to age well. We
believe that how we age should not be determined by gender, color,
sexuality, income, or ZIP code. Working with thousands of national
and local partners, we provide resources, tools, best practices,
and advocacy to ensure every person can age with health and
financial security. Founded in 1950, we are the oldest national
organization focused on older adults. Learn more at www.ncoa.org
and @NCOAging.
About WISER
WISER is a nonprofit organization that
works to help women, educators, and policymakers understand the
important issues surrounding women's retirement income. As the only
organization to focus exclusively on the unique financial
challenges that women face, WISER supports women's opportunities to
secure adequate retirement income through research, programs, and
partnerships. WISER has also been the driving force behind a series
of state and local events on long-term financial security aimed at
leveling the playing field for women. Learn more at
www.wiserwomen.org.
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SOURCE National Council on Aging