Senate Aging Panel Highlights the Importance of Financial Literacy

Published in RINewsToday on May 18, 2026

Chairman Rick Scott (R-FL) and Ranking Member Kirsten Gillibrand (D-NY) of the U.S. Senate Special Committee on Aging held a hearing last month called “Empowering Seniors Through Financial Literacy: Tools to Protect Savings, Prevent Fraud, and Promote Independence.” The hearing, held during National Financial Literacy Month, focused on the need for financial education and income security for older Americans.

The April 15 hearing lasted just over an hour and focused on improving financial and retirement security for older Americans. During his opening remarks, Sen. Scott announced the release of a bipartisan 2026 Financial Literacy Booklet to help older Americans spot and avoid scams.

At SH-216, the Senate Aging Committee confirmed its continued work to protect older adults from financial exploitation and built on earlier efforts, such as the 2025 Fraud Report.

New Resource for a Secure Retirement

The new 39-page bipartisan booklet, Guarding Your Nest Egg: A Financial Resource for Older Adults, helps older Americans manage their finances, protect themselves from fraud and scams, and plan for a secure retirement.

As Sen. Scott noted: “For so many Americans, especially our seniors, it’s hard to find the information,” Sen. Scott said in his opening statement. “And when you do find it, it’s often incredibly complicated. As a country, we have done a poor job of ensuring people know their options and what route will work best for their needs.”

Sen. Scott says financial literacy is one of the most powerful and most underused tools to protect older Americans. “When they understand how their benefits work, they make better decisions,” he says.

“When they know how to read a financial statement and recognize bad actors, they’re harder to deceive. When they understand the difference between a legitimate investment and a pitch that’s too good to be true, they protect themselves. And when they know where to turn for trusted help, they realize they are not navigating this alone,” said the Florida Senator.

Finally, Sen. Scott added, “The best part is that this doesn’t require a new government program or more federal bureaucracy.” He stressed that the solution is not more federal spending, but “clear information, trusted messengers, and a commitment to getting that information into people’s hands.”

The Senate Aging Committee’s new booklet helps readers make smart retirement and financial decisions. It covers an array of topics, including Social Security, Medicare, housing, charitable giving, disaster preparedness, and even planning for unexpected events. Throughout its pages, practical advice is given to help older adults protect their savings and avoid fraud and scams.

Sen. Gillibrand, in her opening remarks, noted that over 11,000 Americans turn 65 every day. Longer lifespans mean more years in retirement, so careful retirement planning is needed, she says, stressing that aging populations put pressure on budgets and healthcare programs at all levels.

The New York Senator mentioned a recent statement by President Donald J. Trump, who suggested that Medicare and Medicaid should be managed by states rather than the federal government. She countered that comment, noting that since Medicare and Medicaid were enacted in 1965, older Americans have come to rely on these federal programs and expect them to be in place when needed.

Sen. Gillibrand pointed out that the Centers for Disease Control and Prevention data show about 44% of adults over 65 have a disability. Many people don’t see themselves in these statistics, and some find it difficult to plan to take care of a child or adult with special needs. Even when people set financial goals and save, unexpected events can still occur, she says.

Expert Witnesses disclose Insights on Financial Literacy

The Senate Aging Panel brought four expert witnesses from the Financial Industry Regulatory Authority (FINRA), the American Bankers Association Foundation, AARP, and the financial planning community to testify at the hearing. These witnesses stressed the value of financial literacy and highlighted the growing complexity of fraud schemes. They also called for a coordinated approach that leverages education, training, partnerships, and legislation to protect older Americans’ finances.

“For older Americans, financial literacy is not a luxury; it is key for building wealth, protecting savings and preserving autonomy,” says Christine Kieffer, Interim President of the FINRA Investor Education Foundation. Kieffer explained that financial literacy helps manage financial difficulties, but it is not enough to prevent scams. It should be combined with awareness of scams, an understanding of persuasion tactics, and a coordinated approach to ensure real protection.

Sam Kunjukunju, Vice President of Consumer Education at the American Bankers Association Foundation, suggested banks protect and educate older consumers, train bankers, work with law enforcement and adult protective services, and use technology. He also called for a nationwide education campaign and federal laws allowing banks to delay suspicious transactions.

From large banks to small community banks, these financial institutions offer fraud prevention workshops, online banking training, and financial wellness seminars, and coordinate outreach efforts with community organizations, says Kunjukunju, citing several examples.

Carly Roszkowski, AARP’s Vice President of Financial Resilience Programming, shared that 64% of adults worry about having enough money to retire, and nearly one in five non-retirees have no retirement savings. She discussed the real financial challenges older adults face.

AARP provides practical, easy-to-use digital tools (calculators, guides, and other resources) that enable older adults to make informed decisions about their financial future, thereby strengthening their long-term retirement security, says Roszkowski.

“The retirement system now shifts risk to the individuals, but education and support never caught up,” said Roszkowski in her testimony, explaining that the U.S. retirement system now places primary responsibility on individuals to manage savings, investing, and turning those savings into lifelong income.

“Financial literacy works – but only when it’s practical, sustained, timely, and paired with decision support,” adds Roszkowski.

Furthermore, Roszkowski argued that since individuals now bear more risk, financial literacy should be taught throughout one’s life. This approach should cover complex decisions that must be made in later years, as well as fraud risks, drawing on trusted, accessible sources.

In his testimony, Scott Kahan, a certified financial planner, also shared his experience navigating Medicare at age 65, even after 40 years in finance, to illustrate how complex it can be.

“Many people don’t use a financial planner for retirement planning. They might think they don’t have enough money or believe free help online is enough,” says Kahan, warning that this belief is often wrong and misleading.

Getting help from skilled, ethical financial planners like CFPs is essential and should not be considered a luxury, Kahan states, describing this assistance as a lifeline for managing financial complexity and avoiding fraud.

At this hearing, the expert witnesses said that today’s scams are sophisticated schemes that use Artificial Intelligence, voice cloning, and psychological manipulation. They also pointed out how hard it is to make wise choices about when to take Social Security, enroll in Medicare, and manage savings, especially when information is complex, hidden, and difficult to find on government websites, or even biased.

The witnesses also called on banks, government, regulators, nonprofits, and law enforcement to work together to help older Americans make better financial decisions and avoid scams. They often said that information and warnings should come from trusted sources such as family, bankers, financial planners, or groups like AARP.

 A Final Note…

Hopefully, the testimony at the Senate Aging Committee hearing will push Congress to move quickly to establish a “uniform national framework” that eliminates inconsistencies among state laws and better protects older Americans from today’s increasingly sophisticated fraud and scams. Possible steps include a federal “safe harbor” law allowing banks to delay disbursements or temporarily hold transactions when fraud is suspected, the creation of new task forces focused on combating elder fraud, and increased funding for national financial literacy campaigns.

The witnesses’ testimony about scams and complex systems may prompt federal agencies, such as the Securities and Exchange Commission, the Social Security Administration, and the Centers for Medicare & Medicaid Services, to make their communications and processes easier for older adults to access.

To watch the April 15 Senate Aging Committee Hearing, go to Empowering Seniors through Financial Literacy: Tools to Protect Savings, Prevent Fraud, and Promote Independence | United States Senate Special Committee on Aging

Download/read the “Guarding Your Nest Egg, a Financial Resource Guide for Older Adults:   https://www.aging.senate.gov/imo/media/doc/guarding_your_nest_egg_a_financial_resource_guide_for_older_adults.pdf

National Primary Care Coalition Takes on America’s Broken Healthcare System

Published in RINewsToday on May 4, 2026

In 2023, Primary Care for All Americans (PC4AA) was launched as a national initiative to raise primary care as a public policy priority and advocate for payment reform to promote universal access to high-quality primary care. Primary care physician and former Rhode Island Health Director Dr. Michael Fine is the driving force and co-founder of PC4AA. He is also the author of several books, including “Healthcare Revolt” and “On Medicine as Colonialism.”

When asked why PC4AA was needed, Dr. Fine responded:  “ We wondered about that ourselves.  Physician groups tend to focus on pocketbook issues.  Public health folks focus on health outcomes.  But no one was putting it all together.  And no one was specifically involving communities or showing them how they could provide primary care to everyone, in part because primary care is so affordable,” he said.

Dr. Fine explains the organization’s focus, stating: “Our mission is very clear. We exist to help communities figure out how to provide primary care to everyone, learning from the experience we gained in Scituate, Rhode Island.” In Scituate, the community locally funded a voucher program that successfully provided primary care to all uninsured residents for over two decades. “It’s the only place that we know of that assures everyone has access to primary medical and dental care,” he says, highlighting a replicable model.

Dr. Fine maintains that comprehensive primary care is a surprisingly affordable essential service, with its per-person cost comparable to municipal services such as police, fire, and road maintenance.

PC4AA’s influence and policy impact derive from the scale of its collaboration rather than from formal enrollment numbers alone. By uniting primary care physicians, health policy experts, patient advocates, academic leaders, and public health professionals, the coalition helps build nationwide consensus for health care reform—especially in making primary care accessible to all Americans, says Dr. Fine.

The coalition’s community-building efforts are apparent in its active workgroups. “We have over a thousand people in local or state workgroups who clicked ‘Join Us’ on our website, and they participate in some way,” says Dr. Fine. He further stresses that their growth is tracked by the number of these workgroups joining monthly online meetings and through the passage of primary care legislation at the state level.

Dr. Fine notes that the difficulty of accessing primary care inspired the creation of PC4AA. He notes that primary care uniquely improves public health while reducing costs, and that an adequate number of primary care doctors is essential to making healthcare affordable.

According to Dr. Fine, less than 43 percent of Americans have meaningful primary care relationships, a figure that is falling as fewer medical students choose primary care. Internationally, effective, affordable health care systems have at least 50 percent of physicians in primary care, he says.

Responding to these primary care workforce trends, PC4AA’s top priority is to expand access to primary care nationwide. “We need  thousands of new primary care clinicians,” says Dr. Fine, explaining that this can be accomplished by establishing new medical and physician assistant schools and by increasing residency programs.

PC4AA also advocates for reducing primary care doctors’ workloads, eliminating preauthorization and cutting administrative duties, and improving reimbursement. Although accounting for less than 4 percent of health spending, primary care accounts for half of all patient visits, costing about $575 per person annually, out of an average total of $15,000.

Having operated for over three years Dr. Fine acknowledges a major challenge the group faces: a “feeling of impotence.” Although healthcare may seem “too big and scary for some” and many believe that “only the big guys can fix it,” Dr. Fine insists that the power to make systemic changes actually lies with communities. He points out, “Look at how Newport fought successfully to keep their birthing center open, or what Scituate did.”

While these may be viewed like temporary strategic challenges, Dr. Fine reframes these obstacles as chances for growth and community empowerment.

Fine argues that fixing the healthcare system requires a broad-based social movement, similar to past movements for abolition and suffrage, to restore community agency and build a system that serves people ahead of profit.

Communities can take forward-thinking actions to solve their own healthcare problems, says Dr. Fine, by creating local primary care reports, passing city council resolutions, and building scholarship programs to grow their own healthcare workforce.

“Get started, have a conversation, understand that you can do this because you can,” states Fine. He challenges readers to actively join the movement—by connecting with local efforts, attending on-line meetings, and spreading the message in their communities. “Take concrete steps, unite others, and turn awareness into real progress. Together, we can build the future of primary care from the ground up.”

PC4AA Welcomes First Executive Director

According to its March 31 newsletter, PC4AA announced the hiring of Neda Ashtari, MD, MPP, as its first Executive Director.  This appointment arrives at a time when the nation is fiercely debating how to expand access to health care and reduce spiraling costs.

 In the newsletter, PC4AA writes: “Dr. Ashtari brings to PC4AA something rare and deeply needed—a combination of lived experience, clinical insight, policy expertise, and movement-building leadership. As a physician serving in the safety net in Los Angeles during residency, she cared for patients managing a broken system where access too often depended on income and coverage status. She watched as patients were lost in the system due to insurance gaps or delayed medical care because of costs. These were not abstract policies; they were daily realities.”

 The newsletter also highlights Dr. Ashtari’s own perspective: “I keep coming back to a simple conclusion,” she writes. “Lasting reform starts with universal access to primary care.” It notes that this conviction has guided her work for more than a decade across organizing, policy, and clinical care.

PC4AA further points out in the newsletter that Dr. Ashtari has led national advocacy campaigns, including the American Medical Student Association’s Lower Drug Prices Now initiative, coordinating organizing efforts across more than 30 chapters nationwide. Through her leadership with Universities Allied for Essential Medicines, she helped build coalitions that expanded access to lifesaving medications globally—work recognized in the documentary White Coat Rebels.

The newsletter emphasizes that she co-founded Protect US, a public health nonprofit focused on expanding access, strengthening public health infrastructure, and combating misinformation. After serving as Associate Director of Health Policy at the Center for American Progress, Dr. Ashtari recently assumed a new role as Director of Federal Affairs at the American Medical Association, where she advocates on behalf of clinicians and patients on Medicare Advantage policy.

Looking forward, Dr. Ashtari outlines her vision for the role in the newsletter: “As PC4AA’s Executive Director, I will work to translate the organization’s grassroots energy into a durable national movement—one capable of changing how primary care is valued, funded, and delivered across the country.”

The newsletter closes by emphasizing a consistent theme across her work: Dr. Ashtari is “not only a thinker, but a builder,” noting that she understands policy alone is not enough—lasting change requires organizing and translating values into durable systems that people can rely on.

 Mark Your Calendar

The organization is convening the “Health Care Renaissance Summit,” its inaugural gathering to build a coordinated national movement for primary care reform.  The summit, scheduled for May 20, 2026, at the Le Méridien Hotel in Cambridge, MA, brings together an eclectic group of stakeholders—including clinicians, community organizers, medical students, policymakers, and advocates—reflecting PC4AA’s strategy of linking grassroots organizing with policy change.

“According to PC4AA, this one-day national summit is designed to be interactive and results-driven. The event features keynote speaker Dr. Jonathan Fitzsimons—a family physician and Medical Lead of the Renfrew County Virtual Triage and Assessment Centre—along with talks from national leaders, skill-building workshops, and “table talks.” These joint sessions allow participants to share strategies and unique experiences. Core discussions focus on practical approaches, such as advancing local policy resolutions, launching student-driven initiatives, and strengthening state- and community-based coalitions.”

Organizers hope attendees leave the summit with practical tools for local organizing and real-world examples to bring home to their communities. The event connects people to a national support network and advances PC4AA’s mission to expand primary care access through community-led work that creates lasting change.

Ticket Pricing is $50 for students and $250 for general admission. Register now at https://pc4aasummit.netlify.app/# to be part of this movement for healthcare reform and help drive change in primary care in your community.

Summit sponsors include: New Bedford Community Health (New Bedford, Massachusetts); City of Pawtucket (Pawtucket, Rhode Island); Tufts University School of Medicine, Department of Family Medicine; The Meyers-Keller Fund for Good Works (Denver, Colorado); Elation Health (San Francisco, California); and Michael Kaplan, MD(Lenox, Massachusetts).

To visit PC4AA’s website, go to https://primarycareforallamericans.org/

Listen to Dave Chase’s Relocalizing Health podcast interview with Dr. Michael Fine, “How Primary Care and Community Agency Can Transform Healthcare from Extraction to Empowerment,” at: https://relocalizinghealth.com/episode/how-primary-care-and-community-agency-can-transform-healthcare-from-extraction-to-empowerment

New AARP Report: Unpaid Care Skyrockets to over $1 Trillion

Published in RINewsToday on April 6, 2025

AARP’s latest report reveals a staggering surge in the economic value of unpaid family caregiving, now exceeding $1 trillion. Since 2006, AARP’s Public Policy Institute has tracked this value through its Valuing the Invaluable reports. Last week, at a virtual media briefing, the organization released its seventh report, Valuing the Invaluable 2026: Family Caregivers’ Contribution Reaches $1 Trillion,  delivering a strong message: in 2024, family caregivers provided nearly 50 billion hours of mostly uncompensated care—valued at a whopping $1.01 trillion. Sixteen years earlier, AARP estimated the value of uncompensated care was just $350 billion.

 Building on the previous data, the 9-page report, released on March 26, 2026, by AARP’s Public Policy Institute, emphasizes throughout that caregiving impacts not just families, but also the economy, labor market, and healthcare system.

 It estimates that 59 million caregivers contributed a total of 49.5 billion hours of care each year, valued at $20.41 per hour. Using the Caregiving in the US 2025 data set (which uses new statistical methods that incorporate the range of tasks and support that family caregivers provide), this amounts to about $1.01 trillion annuallyFor comparison, family caregivers’ economic contribution surpasses the combined federal, state, and local Medicare spending in 2024 ($931.7 billion) and nearly doubles out-of-pocket health care spending ($556.6 billion).

 To further accentuate the magnitude, the report calculates that the nearly 49.5 billion hours of uncompensated care provided annually equal the labor of about 24 million full-time workers—that’s 17% of the nation’s full-time workforce.

According to the AARP report, American adults spend as much time on caregiving duties as on everyday activities, such as housecleaning and preparing meals, and almost twice as much time as they spend on religious activities and volunteering combined.

This unpaid care—delivered by caregivers to older adults, neighbors, and friends—enables millions to remain independent in their homes and communities. The report warns that, without this assistance, millions of Americans would be forced to rely on assisted living or costly nursing facility care, resulting in significantly higher costs for public programs such as Medicaid. However, it also recognizes that this support comes at a steep personal cost to caregivers, often undermining their health, emotional state, financial security, and general well-being.

 Beyond national implications, AARP’s caregivers report also provides state-by-state estimates of the number of caregivers, total hours provided, economic value, and the average hourly value of care.

These state figures, for example, show that the estimated value of caregiving ranges from $14.12 per hour in Louisiana to $27.05 per hour in Washington, reflecting regional differences. In Rhode Island, approximately 155,000 family caregivers provide 111 million hours of unpaid care, valued at $2.8 billion, or about $25.07 per hour.

Continuing this deeper look, the AARP report finds that family caregivers now provide more care than ever, averaging 27 hours per week. More than half—57%—deliver high-intensity care: tasks such as bathing, dressing, wound care, and administering injections.

 Presser Announces New Caregiver Report’s Release

 To explore the report’s findings in greater depth, AARP convened a 40-minute panel moderated by Ilse Zuniga, Director of External Relations. This discussion brought together Dr. Myesha Minter-Jordan (AARP CEO), Nancy LeaMond (Executive Vice President and Chief Engagement Officer), Paula Cunningham (AARP Michigan State Director), Rita B. Choula (Senior Director at AARP’s Public Policy Institute and lead author), and Megan O’Reilly (Government Affairs Department).

During the panel, Dr. Myechia Minter-Jordan, AARP’s CEO and physician, addressed the 30 journalists present, stating that family caregivers are underwriting a service that millions depend on daily.

 She emphasized that, with family caregiving now exceeding $1 trillion annually, employers, healthcare providers, and policymakers must do more to recognize and support caregivers as they fill essential gaps in the healthcare system.

Dr. Jordan said caregiver stories are powerful and often painful, stressing that AARP is working to magnify these voices and advocate for concrete policies that recognize caregivers’ economic contributions.

 “Given that most Americans will either be a caregiver or need one at some point in their lives, we need to do better,” Dr. Jordan told the journalists.

 “AARP is supporting bold solutions to assist America’s caregivers, says Dr. Jordan. “These include a national paid family and medical leave policy, as well as greater respite services and resources, such as those offered in states through partnerships with United Way and AARP’s 211 Caregiver Support Hotline.”

She concluded that the released report should be a wake-up call and an opportunity for action, hoping that it will drive real, long-lasting change.

Nancy LeaMond, AARP Executive Vice President and Chief Advocacy and Engagement Officer, noted, “Caregiving is not simply a family issue; it’s a labor force, economic, and healthcare issue that compels action. Behind every data point is a person—a daughter, husband, grandchild, or neighbor.”  

According to LeaMond, AARP has been working relentlessly to raise caregiving as a national priority and to push for common-sense, bipartisan solutions that can save caregivers time and money.

LeaMond added that the organization has worked to raise the visibility of caregiving, making it a national priority at both the state and federal levels. She noted, “Oklahoma became the first state in 2023 to pass a comprehensive state-wide caregiver tax credit to put money back in the pockets of family caregivers,” with Nebraska following the next year.

Additionally, she stated that 12 other states have considered enacting statewide caregiver tax credit legislation during the 2026 legislative session.

LeaMond further reported that on Capitol Hill, AARP has been advancing legislation such as the Credit for Caring Act, which offers a $5,000 federal tax credit to offset caregiving expenses, and the Lowering Costs for Caregivers Act, which allows family caregivers to use Health Savings Accounts or Flexible Savings Accounts for care expenses for parents.

Paula Cunningham added a personal dimension, relating stories to illustrate the intense, unceasing nature of caregiving. She narrated stories of caregivers forced to draw from their savings or reduce work commitments, such as Deb Conja, an attorney from Okemos, Michigan, who left her job to care for her mother.

She also shared the experience of a Detroit military veteran who, after two tours of service, described caregiving for her mother as the hardest job she’s ever had—an indication of the intensity of these responsibilities.

“Navigating through who to call and when to call, and what kind of services are available is another layer of stress that we’re trying to help reduce,” says Cunningham. She noted that AARP Michigan is calling for funding for a Caregiving Resource Center to provide one-stop online shopping and connect 1.6 million Michigan caregivers across the state with the support services they need.  

 AARP Michigan is also pushing to expand access to funding for home- and community-based services that are necessary for caregivers to stay in the workplace, says Cunningham.

 Finally, during the Q&A, Megan O’Reilly from AARP’s government affairs department responded to Politico journalist Robert King about whether a federal crackdown on fraud in personal care services could undermine governmental efforts to support family caregivers. “Fraud is a crime, and those who commit fraud should be held accountable. But we have to make sure that we’re protecting the care and the need for the essential care and services that our communities and loved ones need to remain at home…,” she said.  

 In response to a question, Rita B. Choula, the AARP report’s lead author, provided extra insights as to how the economic value of care was calculated for the latest report.  

Today, caregiving encompasses much more than just taking someone to a provider’s office, paying bills, or even mowing the lawn, says Choula, noting that the economic value of care must account for the complexity of the care provided.  “Individuals are now doing things in the home that medical providers and professionals were trained to do,” she notes, explaining that these new duties have resulted in using a higher hourly wage to calculate the cost of unpaid care.  

AARP provides resources to help families navigate the myriad of caregiving challenges by connecting them to reliable resources in every state. AARP’s state-by-state Family Caregiver Resource Guides help family caregivers access key programs, services, and agencies right in their community. Additionally, through its partnership with United Way Worldwide, caregivers can access local support services in 28 states by calling 211, including help finding in-home care, respite care, transportation, and other essential services.

A Final Note…

Urgent policy action must be taken by Congress and state legislatures to provide the concrete financial support needed to deliver real financial relief and structural support for America’s caregivers through measures such as tax credits and paid family leave. It is the right thing to do!