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Why Americans are finding it more difficult to retire

Retirement is the final chapter of the American dream. But that dream of the “golden years” is quickly turning into a fairy tale for a growing number of people. More than a third of Americans today feel unprepared or unsure if they are on track for retirement, according to a new study. But, on the other hand, some experts say American seniors are better off than their counterparts in other countries. Is America really facing a retirement crisis, and if so can it be solved?


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If you don’t have another job lined up that will provide health insurance, you may be eligible for Medicaid or a subsidized plan on the Affordable Care Act’s marketplace. Medicaid typically involves no or low monthly premiums, Lucia said. And marketplace plans are the cheapest they’ve ever been for many people, thanks to relief legislation passed in the pandemic.


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Still, the subsidies may be coming late in the game for many people, said Laurel Lucia, director of the Health Care Program at the University of California Berkeley’s Center for Labor Research and Education. “Some workers who lost job-based coverage earlier in the pandemic and already enrolled in Medicaid or marketplace coverage may prefer to stay in that coverage to avoid further coverage transitions,” Lucia said.