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Testimony of the Brookings Institution at Senate Committee Hearing: 'How Prepared Are Americans for Retirement?'

"My testimony is in three parts. I first discuss the problem of low retirement savings and, secondly, I summarize relevant theories of saving that help to illustrate areas for improvement. In the final portion, I offer some specific policy recommendations based on my own work and that of my colleagues. In offering these recommendations, I seek to enhance the financial security of Americans in retirement."

Brookings Institution Comments to CMS on the 2023 Notice of Benefit and Payment Parameters

"[The] letter urges CMS not to implement network adequacy standards related to emergency physicians because doing so would increase patient out-of-pocket costs and premiums without improving patient access."

Brookings Institution Comments to HHS on Consolidation in Health Care Markets (PDF)

"[The authors] recommend that the agencies collect and make available systematic, high-quality data on the ownership structures of health care entities, with a particular focus on improving the data available on physician practices.... [CMS] should collect systematic data on physician practice ownership as part of the Medicare enrollment process, as it does for institutional providers.... CMS should take steps to improve the quality of entity-reported data."

Brookings Institution Comment Letter to CMS on Federal Independent Dispute Resolution Operations (PDF)

"While reducing the cost of IDR is desirable ... changes like this may also encourage greater use of IDR, at least partially offsetting any savings from reducing the costs incurred per disputed service. The Departments' proposed changes may also disproportionately reduce the costs that providers bear in IDR, which may give providers more leverage in negotiations with insurers and raise negotiated prices."

Brookings Institution Recommends Shifting Retirement Tax Incentives to Lower-Income Households

"Federal tax subsidies for retirement savings should be redirected to get more people saving for retirement and other purposes, according to the Brookings Institution's Karen Dynan, vice president and co-director of economic studies.... Ms. Dynan also calls for providing more tax incentives for employers to offer retirement savings plans, including a bigger credit for startup costs, and an automatic individual retirement account program for employees."

Brookings Institution Testimony Submitted to Hearing on Tax Reform Options: Promoting Retirement Security (PDF)

"My testimony discusses a proposal that would reform public policies toward retirement saving by replacing the current deduction for contributions to retirement saving accounts with a flat-rate refundable credit that would be deposited directly into the saver's account."

How Mobile Devices Are Transforming Health Care

"[Mobile] technology is poised to alter how health care is delivered, the quality of the patient experience, and the cost of health care. Mobile technology is helping with chronic disease management, empowering the elderly and expectant mothers, reminding people to take medication at the proper time, extending service to underserved areas, and improving health outcomes and medical system efficiency. In this report, ... [Darrell M. West of the Brookings Institution] review adoption of innovative examples of m-health, its impact on service delivery and medical treatment, and how mobile devices are saving money in the health care system."

A New Take on Premium Trends Gets Pushback from ACA Critics

"Loren Adler and Paul Ginsberg of the Brookings Institution argue ... that premiums would have risen faster without the ACA -- and that the benefits are much more robust than in the old individual market. And that doesn't even take into account subsidies for premiums and, for many, cost sharing.... [C]ritics of the law ... point out that even if the Brookings numbers are right -- that this insurance is cheaper than such a policy would have cost pre-2014 -- it misses the point that a lot of people don't want this insurance."

The Hidden Costs of Expanding HSAs in One Big, Beautiful Bill

"[H]igher-income households are more likely to pay for medical expenses out-of-pocket while letting their HSA balances grow tax-free -- essentially turning the HSA into a tax-advantaged investment or retirement vehicle. This can provide larger tax benefits in the long run than using HSA funds for medical care. In contrast, lower-income households are more likely to use HSA funds as they are deposited, missing the long-term tax advantage by treating the HSA more like a Flexible Savings Account."

President's Budget Proposal Could Help Up to 78 Million More Workers to Save for Retirement

The new budget ... contains the Automatic IRA, which was developed by Brookings' Retirement Security Project in conjunction with The Heritage Foundation. This year's version includes an important change that will also encourage more employers to offer a 401(k) account to their workers.