Tag: auto-IRA
Across the nation, many older adults struggle to make ends meet. The Elder Index, produced by the Gerontology Institute at UMass Boston, suggests that roughly one-third of older households have incomes below what it takes to meet basic needs and age in place. One question is whether living in a high-wealth, high-cost state such as…
Low-income retired couples with less than $3,000 in assets can get Medicaid to supplement their Medicare insurance or pay for a nursing home. This asset cap, set by state governments, mainly applies to financial accounts and excludes the value of a home and vehicle. But Medicaid coverage in old age could conflict with auto-IRA initiatives…
