Americans are living longer, but not necessarily living better. With fewer Americans saving adequately for retirement or their long-term health needs, and the corresponding decline in public and private pension plans, we are facing both a retirement and health security crisis.
Recommendations
The next President should explore programs that:
- distinguish more clearly between savings and insurance when addressing individual financial security
- mandate both personal savings and the purchase of insurance against risk to avoid free-riding, security-oriented programs
- offer subsidies to mitigate the burdens of saving and insurance premiums on low-wage workers and their families
- disseminate information and facilitate individual choice
- require all individuals to pay risk-based prices for insurance against self-incurred risks
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Opportunity 08 aims to help 2008 presidential candidates and the public focus on critical issues facing the nation, presenting policy ideas on a wide array of domestic and foreign policy questions. The project is committed to providing both independent policy solutions and background material on issues of concern to voters.