
<p>Retirement insights from a Colorado PERA perspective</p>



<p></p>


A distant view shows a mountainous landscape with sloping peaks, green trees in the foreground, and a cloudy sky above.


<h4 class="wp-block-heading"><strong><a href="https://civicscience.com/retirement-redefined-how-the-pandemic-and-economic-factors-are-shaping-retirement-plans-among-older-americans/" target="_blank" rel="noreferrer noopener">Retirement Redefined: How the Pandemic and Economic Factors Are Shaping Retirement Plans Among Older Americans | CivicScience</a></strong></h4>



<p>More than four years after the start of the COVID-19 pandemic, we’re still seeing some of the effects of the public health crisis and new data attempt to shed some light on how the pandemic affected retirement planning. Survey data from CivicScience found most adults at or near retirement age said they did not leave the workforce during the pandemic, but older workers (65+) were more likely to say they left work and didn’t return. Of those who left the workforce and returned, more than half expect to work past the age of 65.</p>



<h4 class="wp-block-heading"><a href="https://www.investopedia.com/people-want-congress-to-fix-social-security-s-shortfall-8722073" target="_blank" rel="noreferrer noopener"><strong>Most Americans Want Congress To Fix Social Security and Medicare Shortfalls ASAP | Investopedia</strong></a></h4>



<p>In a recent survey, respondents made it clear that shoring up Social Security and Medicare are top priorities for ensuring retirement security. The survey from the Transamerica Institute for Retirement Studies found over 60 percent of people think the government needs to prioritize filling Social Security’s funding shortfall and over 50 percent think Medicare’s funding should be a priority.</p>



<h4 class="wp-block-heading"><a href="https://www.kiplinger.com/investing/farewell-paper-i-bonds-savings-bonds-going-online-only" target="_blank" rel="noreferrer noopener"><strong>Farewell Paper I-Bonds: Savings Bonds Are Going Online Only | Kiplinger</strong></a></h4>



<p>The last remaining paper savings bond is about to go all digital. The U.S. Treasury announced taxpayers will no longer be able to buy paper Series I bonds with their tax returns starting January 1, 2025. Electronic versions of I and EE bonds have been available for purchase online through TreasuryDirect for about two decades, and banks stopped selling paper savings bonds in 2012.</p>



<h4 class="wp-block-heading"><strong><a href="https://www.thetravel.com/beautiful-towns-in-colorado-that-are-great-for-retirement/" target="_blank" rel="noreferrer noopener">Beautiful Towns In Colorado That Are Great For Retirement | The Travel</a></strong></h4>



<p>While many people like to stay put in retirement and age at home, many others like to pack up in search of a change in scenery or a better way of life. This list aims to identify the best towns in Colorado for retirees with a focus on crime and cost of living.</p>



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<p><em>News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.</em></p>


News You Should Know: How the Pandemic Affected Retirement Planning


<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2023/05/02/69percent-of-people-either-failed-or-barely-passed-this-social-security-quiz.html" target="_blank" rel="noreferrer noopener"><strong>69% of People Either Failed or Barely Passed This Social Security Quiz | CNBC</strong></a></h4>



<p>For many Americans, especially those who don’t receive a pension like the PERA Defined Benefit Plan, Social Security is an important source of income in retirement. But it turns out many older workers nearing retirement have very limited knowledge of how Social Security works. Try this quiz and see how you stack up.</p>



<h4 class="wp-block-heading"><a href="https://fortune.com/well/2023/05/12/medicare-beneficiaries-end-of-covid-19-emergency-rules/" target="_blank" rel="noreferrer noopener"><strong>What Medicare Beneficiaries Need to Know About the End of the COVID-19 Public Health Emergency | Fortune Well</strong></a></h4>



<p>The federal government’s COVID-19 public health emergency ended May 11, resulting in the end of some pandemic-area changes in health care. Here are some of the major changes (as well as what won’t be changing) for seniors on Medicare.</p>



<h4 class="wp-block-heading"><a href="https://www.npr.org/2023/05/16/1176417594/irs-taxes-filing-turbotax-intuit-tax-prep" target="_blank" rel="noreferrer noopener"><strong>The IRS is Working on Software to Allow Taxpayers to File Online | NPR</strong></a></h4>



<p>Filing tax returns every year can be an overwhelming and confusing process, leading many people to pay for tax software or hire someone to do the work. Now, the IRS is looking to offer a free system to file tax returns directly with the federal government, sidestepping the third parties.</p>



<h4 class="wp-block-heading"><a href="https://scitechdaily.com/depressions-unexpected-role-in-accelerating-biological-aging/" target="_blank" rel="noreferrer noopener"><strong>Depression’s Unexpected Role in Accelerating Biological Aging | SciTechDaily</strong></a></h4>



<p>As researcher work to better understand the aging process, they’ve found some evidence that depression may play an important role. In a recent study, researchers at the University of Connecticut Center on Aging found older adults living with depression show evidence of aging faster. That accelerated aging can then lead to a higher risk of health problems.</p>



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<p><em>News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.</em></p>


News You Should Know: Can You Pass This Social Security Quiz?


<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2022/03/30/house-passes-secure-act-2point0-heres-what-it-means-for-your-retirement-.html" target="_blank" rel="noreferrer noopener"><strong>House Passes ‘Secure Act 2.0.’ Here’s What That Means for Retirement Savings</strong></a><strong> | CNBC</strong></h4>



<p>The U.S. House of Representatives has passed a major piece of legislation, dubbed SECURE Act 2.0. The bill would make a number of changes related to retirement planning, including raising the age at which retirees must begin taking required minimum distributions (RMDs) and increasing catch-up contribution limits.</p>



<h4 class="wp-block-heading"><a href="https://www.cbsnews.com/news/medicare-enrollees-can-now-get-free-covid-19-tests-at-drug-stores/" target="_blank" rel="noreferrer noopener"><strong>Medicare Enrollees Can Now Get Free COVID-19 Tests at Drug Stores</strong></a><strong> | CBS News</strong></h4>



<p>When the Biden administration issued a mandate in January that private insurers must cover the cost of at-home COVID tests, Medicare was notably absent from the directive. As of April 4, Medicare enrollees now can get up to eight free at-home COVID tests per month from participating pharmacies.</p>



<h4 class="wp-block-heading"><a href="https://www.kiplinger.com/retirement/annuities/604508/fed-is-raising-interest-rates-how-do-retirees-benefit" target="_blank" rel="noreferrer noopener"><strong>Fed Is Raising Interest Rates. How Do Retirees Benefit?</strong></a><strong> | Kiplinger</strong></h4>



<p>The Federal Reserve announced in March that it would raise its key interest rate, and more rate hikes are coming in 2022. Fed rate increases can affect consumer finances in a number of ways, and those higher rates can be especially beneficial for anyone who buys an annuity.</p>



<h4 class="wp-block-heading"><a href="https://www.cnet.com/personal-finance/taxes/still-havent-received-your-tax-refund-heres-what-the-holdup-could-be/" target="_blank" rel="noreferrer noopener"><strong>Still Haven&#8217;t Received Your Tax Refund? Here&#8217;s What the Holdup Could Be</strong></a><strong> | CNET</strong></h4>



<p>Monday, April 18 is the deadline for filing federal tax returns with the IRS. If you’ve already filed but are waiting on your tax refund, here are a few common reasons why refunds can be delayed.</p>



<hr class="wp-block-separator"/>



<p><em>News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.</em></p>


News You Should Know: House Passes SECURE Act 2.0


<h4 class="wp-block-heading" id="americans-views-of-public-school-teachers-and-personnel-in-the-wake-of-covid-19-national-institute-on-retirement-security"><strong><a href="https://www.nirsonline.org/reports/k-12survey/" target="_blank" rel="noreferrer noopener">Americans’ Views of Public School Teachers and Personnel in the Wake of COVID-19</a> | National Institute on Retirement Security</strong></h4>



<p>A new survey by the National Institute on Retirement Security found that a large majority of Americans — 83 percent — are worried about public school staff shortages. The survey also found strong support for those staff and the benefits they receive. Ninety-four percent of those surveyed said elected officials should ensure that healthcare and pension benefits continue to be funded and protected.</p>



<h4 class="wp-block-heading" id="colorado-to-begin-accepting-cryptocurrency-as-payment-for-taxes-this-summer-denver7"><a href="https://www.thedenverchannel.com/news/national/colorado-to-begin-accepting-cryptocurrency-as-payment-for-taxes-this-summer" target="_blank" rel="noreferrer noopener"><strong>Colorado to Begin Accepting Cryptocurrency as Payment for Taxes This Summer</strong></a><strong> | Denver7</strong></h4>



<p>Colorado Gov. Jared Polis announced plans to allow Coloradans to pay their state taxes and fees with cryptocurrencies like Bitcoin. Polis said the state will start rolling out the program in the summer, so you’ll still have to use traditional forms of currency for this year’s taxes.</p>



<h4 class="wp-block-heading" id="covid-has-changed-retirement-and-canceled-the-celebrations-that-usually-mark-it-nbc-news"><a rel="noreferrer noopener" href="https://www.nbcnews.com/think/opinion/covid-has-changed-retirement-canceled-celebrations-usually-mark-it-ncna1289381" target="_blank"><strong>COVID Has Changed Retirement — And Canceled the Celebrations That Usually Mark It</strong></a><strong> | NBC News</strong></h4>



<p>Retirement has often been met with fanfare to celebrate the end of one life stage and the beginning of another. But the COVID-19 pandemic upended many traditions, including the typical retirement celebrations. A psychologist reflects on what that means for workers entering their golden years.</p>



<h4 class="wp-block-heading" id="6-reasons-you-re-putting-off-writing-a-will-and-how-to-overcome-them-next-avenue"><a href="https://www.nextavenue.org/7-reasons-youre-putting-off-writing-a-will-and-how-to-overcome-them/" target="_blank" rel="noreferrer noopener"><strong>6 Reasons You’re Putting Off Writing a Will and How to Overcome Them</strong></a><strong> | Next Avenue</strong></h4>



<p>For many people, estate planning is a topic that can wait until later — if they’re thinking about it at all. But having a will is important regardless of your age. Here are some common reasons for putting off writing a will and some tips for getting started.</p>



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<p><em>News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.</em></p>


News You Should Know: Americans Express Support for Public Education Staff, Benefits


<h4 class="wp-block-heading" id="bipartisan-bill-to-modernize-59-year-old-older-coloradans-act-emerges-in-legislature-state-of-reform"><a href="https://stateofreform.com/featured/2022/02/bipartisan-bill-to-modernize-59-year-old-older-coloradans-act-emerges-in-legislature/" target="_blank" rel="noreferrer noopener"><strong>Bipartisan Bill to Modernize 59-Year-Old Older Coloradans Act Emerges in Legislature</strong></a><strong> | State of Reform</strong></h4>



<p>Lawmakers have introduced a bill that aims to update and modernize the Older Coloradans Act. The bill would expand and reorganize the Colorado Commission on Aging and appoint someone from the Colorado Department of Human Services to represent the Commission to the state. The bill would also create a “Lifelong Colorado” initiative to coordinate planning and implementation.</p>



<h4 class="wp-block-heading" id="over-the-counter-covid-tests-will-soon-be-free-for-medicare-recipients-npr"><a href="https://www.npr.org/2022/02/03/1078088301/over-the-counter-covid-tests-will-soon-be-free-for-medicare-recipients" target="_blank" rel="noreferrer noopener"><strong>Over-the-Counter COVID Tests Will Soon Be Free for Medicare Recipients</strong></a><strong> | NPR</strong></h4>



<p>When the Biden administration announced insurance companies would be required to cover the cost of at-home rapid COVID tests, Medicare was excluded from the requirement. The government has since announced retirees on original Medicare or a Medicare Advantage plan will be able to get over-the-counter tests at no cost starting in the spring.</p>



<h4 class="wp-block-heading" id="explainer-the-u-s-yield-curve-has-been-flattening-why-you-should-care-reuters"><a href="https://www.reuters.com/business/finance/us-yield-curve-has-been-flattening-why-you-should-care-2022-02-03/" target="_blank" rel="noreferrer noopener"><strong>Explainer: The U.S. Yield Curve Has Been Flattening — Why You Should Care</strong></a><strong> | Reuters</strong></h4>



<p>You may have heard talk of the “yield curve” lately and how it’s been flattening in recent months. But why is that and what does it mean? Here’s an explanation of what the yield curve represents, how it’s predicted recessions in the past and what it might signal for 2022.</p>



<h4 class="wp-block-heading" id="67-of-retirees-have-credit-card-debt-here-are-3-ways-to-pay-it-off-on-a-fixed-income-usa-today"><a href="https://www.usatoday.com/story/money/personalfinance/retirement/2022/02/05/67-of-retirees-have-credit-card-debt-3-steps-to-pay-it-off-on-a-fixed-income/49758385/" target="_blank" rel="noreferrer noopener"><strong>67% of Retirees Have Credit Card Debt. Here are 3 Ways to Pay It Off on a Fixed Income</strong></a><strong> | USA Today</strong></h4>



<p>A recent survey found about two-thirds of retired Americans have credit card debt. Paying off that debt can be especially challenging for people living on fixed and limited income. Here are a few tactics to consider when deciding to tackle that debt.</p>



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<p><em>News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.</em></p>


News You Should Know: Bill Aims to Better Support Aging Coloradans


<h4 class="wp-block-heading"><a href="https://www.9news.com/article/news/health/coronavirus/guidance-booster-shots-covid-19-vaccine/73-5a06ff1a-8e57-4982-a044-658ac6ac646a" target="_blank" rel="noreferrer noopener"><strong>Breaking Down the Guidance for Booster Shots for the COVID-19 Vaccine</strong></a><strong> | 9News</strong></h4>



<p>Health officials in Colorado have given slightly different guidance than federal health officials on who is eligible for a third COVID-19 shot. Here’s what to know about who’s eligible in Colorado and where to get a booster shot.</p>



<h4 class="wp-block-heading"><a href="https://www.vox.com/policy-and-politics/22702855/build-build-better-plan-medicare-negotiate-drug-prices" target="_blank" rel="noreferrer noopener"><strong>Can the US Cut Drug Prices Without Sacrificing New Cures?</strong></a><strong> | Vox</strong></h4>



<p>The latest federal proposal to rein in rising prescription drug costs would put a cap on the amount Medicare could pay for some drugs, with the goal of paying no more than 20 percent more than what other wealthy nations pay for the same drugs. Drug companies argue cost controls could limit their ability to produce new medications.</p>



<h4 class="wp-block-heading"><a href="https://www.fool.com/investing/2021/10/07/is-the-backdoor-roth-ira-disappearing-before-our-e/" target="_blank" rel="noreferrer noopener"><strong>Is the Backdoor Roth IRA Disappearing Before Our Eyes?</strong></a><strong> | The Motley Fool</strong></h4>



<p>Lawmakers are considering a change that would eliminate the so-called “backdoor” Roth IRA. The backdoor strategy allows people whose income exceeds the limit to stash money away in a Roth IRA tax-free by taking advantage of a loophole.</p>



<h4 class="wp-block-heading"><a href="https://www.copera.org/news-you-should-know-whos-eligible-for-a-covid-19-booster-in-colorado" target="_blank" rel="noreferrer noopener" class="broken_link"><strong>U.S. News Ranks the Best Places to Retire in the U.S. in 2021-2022</strong></a><strong> | U.S. News &amp; World Report</strong></h4>



<p>U.S. News &amp; World Report ranked U.S. cities on a number of factors, including desirability, affordability, and access to health care, to determine which cities are the best places for retirees to live. See which state dominated the top 10 and where Colorado cities landed on the list.</p>



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<p><em>News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.</em></p>


News You Should Know: Who’s Eligible for a COVID-19 Booster in Colorado?


<h4 class="wp-block-heading"><a href="https://401kspecialistmag.com/u-s-slips-a-spot-in-2021-global-retirement-index/" target="_blank" rel="noreferrer noopener"><strong>U.S. Slips in 2021 Global Retirement Index</strong></a><strong> | 401k Specialist</strong></h4>



<p>The United States is ranked in 17<sup>th</sup> place on the latest Global Retirement Index from Natixis, dropping one spot from last year. Iceland landed in the top spot for the third year in a row, scoring highly on things like quality of life, access to health care and finances in retirement. The U.S. saw its scores drop in the quality of life, health and finance categories.</p>



<h4 class="wp-block-heading"><a href="https://www.npr.org/sections/health-shots/2021/09/24/1040420009/booster-shot-for-covid-pfizer-science-do-i-need-one" target="_blank" rel="noreferrer noopener"><strong>Booster Shots Are Coming. Here&#8217;s How To Figure Out If You Need One</strong></a><strong> | NPR</strong></h4>



<p>Public health officials have given mixed answers on whether booster shots are necessary for COVID-19, but the FDA has approved boosters for older Americans and those at higher risk of becoming seriously ill. Here’s a detailed breakdown of who might benefit from an additional shot, as well as answers to other booster-related questions.</p>



<h4 class="wp-block-heading"><a href="https://www.thinkadvisor.com/2021/09/22/new-bill-would-create-portable-retirement-and-investment-accounts/" target="_blank" rel="noreferrer noopener"><strong>New Bill Would Create Portable Retirement and Investment Accounts</strong></a><strong> | ThinkAdvisor</strong></h4>



<p>Saving enough money for retirement is a challenge for many people. A newly proposed bill aims to make it easier by providing every American with a portable retirement and investment account when they’re issued a Social Security number.</p>



<h4 class="wp-block-heading"><a href="https://www.businessinsider.com/personal-finance/how-much-emergency-savings-retire-soon-2021-9" target="_blank" rel="noreferrer noopener"><strong>Retiring Soon? Here’s How Much to Have in Emergency Savings</strong></a><strong> | Business Insider</strong></h4>



<p>You’ve probably heard the common advice to keep three to six months’ worth of living expenses saved up in case of an emergency or large unexpected expense. But if you’re getting ready for retirement, you might want to consider stashing away some more cash first. Here are some tips for how much to save and how to use it.</p>



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<p><em>News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.</em></p>


News You Should Know: US Ranked 17th in 2021 Global Retirement Index


<p><em>Editor&#8217;s note: Since publishing, Coloradans who are 65 or older and educators have gained eligibility for the COVID-19 vaccine. <a href="https://www.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know" target="_blank" rel="noreferrer noopener" class="broken_link">Check here</a> for the latest information from the state of Colorado.</em></p>



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<p><em>Key points from this story:</em></p>



<ul>
<li><em>Colorado is taking a phased approach to vaccinating residents</em></li>



<li><em>Coloradans who are 65 years old or older can receive the vaccine now</em></li>



<li><em>PERA is not a health care provider and does not have vaccines to distribute</em></li>



<li><em><a href="https://www.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know" target="_blank" rel="noreferrer noopener" class="broken_link">Check here</a> for the latest information from the state of Colorado</em></li>
</ul>



<hr class="wp-block-separator has-css-opacity"/>



<p>Efforts are underway to inoculate Americans against COVID-19, but only the most at-risk residents are currently eligible to receive their vaccinations.</p>



<p>Determining who can receive a COVID-19 vaccine and when involves a number of factors, including vaccine supplies and availability, location, occupation, and age. Jessica Linart, director of insurance at Colorado PERA, said the unprecedented nature of the coronavirus pandemic and the accelerated vaccine rollout have led to a process that isn’t as straightforward as many might expect.</p>



<p>“It’s different from a flu vaccine where it’s widely available and you can go to the pharmacy or to your doctor’s office,” because vaccine supplies are so limited, Linart said. “Eventually this will look more like a normal vaccine process…but it’s not there yet.”</p>



<p>Here are answers to some questions PERA has received from members, as well as links to more information.</p>



<h5 class="wp-block-heading"><strong>Is PERA providing vaccines for retirees?</strong></h5>



<p>PERA itself is not part of the COVID-19 vaccine distribution process. Federal and state authorities are working with local health authorities and medical providers to vaccinate residents, Linart said, so your state or county health department should be the first place you look to for information.</p>



<p>The providers that PERACare enrollees use might be involved in that process, however.</p>



<p>Kaiser Permanente – one of the insurance carriers that provides coverage under PERACare – is also a medical provider and is providing COVID-19 vaccines to eligible residents. <a href="https://healthy.kaiserpermanente.org/colorado/health-wellness/coronavirus-information/covid-vaccine" target="_blank" rel="noreferrer noopener">Click here</a> for more information.</p>



<p>PERACare’s other carrier, Anthem, is solely an insurance carrier and is not administering vaccines. Those who are enrolled in Anthem’s PERACare plans can still get vaccinated—they can use the resources listed below to find a location.</p>



<h5 class="wp-block-heading"><strong>How do I know if I’m eligible for the vaccine?</strong></h5>



<p>Colorado’s vaccine distribution plan is split into multiple phases, with the highest-risk groups in the first phase and the lowest-risk groups in the last phase. The state is currently in Phase 1, which contains several subgroups.</p>



<p>The groups Colorado currently is vaccinating include:</p>



<ul>
<li>Phase 1A
<ul>
<li>Health care workers with direct contact with COVID-19 patients</li>



<li>Staff and residents of long-term care facilities</li>
</ul>
</li>



<li>Phase 1B.1
<ul>
<li>Coloradans who are 70+</li>



<li>Health care workers with less direct contact with COVID-19 patients</li>



<li>First responders</li>



<li>Correctional workers</li>



<li>Funeral service workers</li>
</ul>
</li>
</ul>



<p>Beginning Feb. 8, Coloradans in Phase 1B.2 will be eligible for the vaccine. That includes:</p>



<ul>
<li>Coloradans who are 65-69 years old</li>



<li>Educators (teachers and school staff)</li>



<li>Workers in licensed child care programs</li>



<li>Members of Judicial/Executive branches of state government</li>
</ul>



<figure class="wp-block-image size-large"><a href=""><img decoding="async" src="https://content.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know/"" class="wp-image-4087"/></a></figure>



<h5 class="wp-block-heading"><strong>How do I know when and where I can be vaccinated?</strong></h5>



<p>This depends on the facility. Some allow you to reserve a spot while others ask you to wait to be contacted when it’s your turn.</p>



<p>To find a vaccine provider near you, head to <a href="https://www.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know" target="_blank" rel="noreferrer noopener" class="broken_link">Colorado’s website</a>. There you’ll find a map of vaccine locations as well as a list of providers by county. If you’re outside Colorado, visit the <a href="https://www.cdc.gov/coronavirus/2019-ncov/vaccines/index.html" target="_blank" rel="noreferrer noopener" class="broken_link">CDC’s vaccine website</a> and choose your state/territory under “How do I get a vaccine?”</p>



<h5 class="wp-block-heading"><strong>Do I have to pay for the vaccine?</strong></h5>



<p>No. The vaccine is available free of charge, with no copay, regardless of your insurance plan. A vaccine provider cannot turn someone away because they don’t have insurance.</p>



<p>Beware of scammers who are using the COVID-19 pandemic to take advantage of people. Don’t give out any personal information online or over the phone, beware of any advertisements that offer to move you ahead your place in line for a fee, and only use official providers listed on the state’s COVID-19 vaccine website. <a href="https://www.colorado.gov/pacific/cbi/identity-theft-fraud-and-cyber-crimes-victim-support" target="_blank" rel="noreferrer noopener">Click here</a> for more information from the Colorado Bureau of Investigation.</p>



<h5 class="wp-block-heading"><strong>I have more questions about the vaccine; who can I ask?</strong></h5>



<p>Check <a href="https://www.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know" target="_blank" rel="noreferrer noopener" class="broken_link">Colorado’s website</a> or your county health department for the most up-to-date information.</p>



<p>More information is also available over the phone by:</p>



<ul>
<li>Calling the state’s 24-hour hotline at 1-877-CO-VAX-CO (1-877-268-2926)</li>



<li>Calling 211 or 866-760-6489 (available from 8 a.m. to 5 p.m. Monday through Friday)</li>



<li>Texting your ZIP code to 898-211</li>
</ul>



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COVID-19 Vaccines for Coloradans: What You Need to Know


<p>It’s been an unusual year, to say the least. COVID-19 altered everything. The well-being of so many across the state, country, and world was at the forefront of everyone’s thoughts. But readers of PERA On The Issues were also interested in how the global pandemic affected PERA. The top stories of 2020 were primarily about the ways in which PERA and the state legislature adapted to these new circumstances.</p>



<h4 class="wp-block-heading"><a href="https://content.copera.org/polis-budget-plan-includes-pera-direct-distribution/" target="_blank" rel="noreferrer noopener">Amid Massive Budget Cuts, Joint Budget Committee Votes to Suspend Direct Distribution</a></h4>



<p>In 2018, the state legislature instituted an annual payment from the state budget to PERA, called a direct distribution. This $225 million payment was an important piece of SB 18-200 and goes toward paying down PERA’s unfunded liability. However, by the end of March the economy was in rough shape. It was clear that budget writers would face a shortfall amounting to billions of dollars. As a result, the legislature paused the direct distribution for 2020 — part of a long list of emergency cuts throughout the state’s budget.</p>



<h4 class="wp-block-heading"><a href="https://peraontheissues.com/polis-budget-plan-includes-pera-direct-distribution/" target="_blank" rel="noreferrer noopener">Polis Budget Plan Includes PERA Direct Distribution</a></h4>



<p>Months after the legislature paused the direct distribution, Governor Polis released his budget proposal for 2021. In it, he indicated one of his priorities was to restore the direct distributions in full. The governor does not write the budget — that responsibility falls to the state legislature’s Joint Budget Committee. But his budget proposal helps set the tone as this process gets underway. Typically, the state legislature passes a budget in late March or early April before sending it to the governor for a signature.</p>



<h4 class="wp-block-heading"><a href="https://peraontheissues.com/pera-related-legislation-sent-to-governor/" target="_blank" rel="noreferrer noopener">PERA-related Legislation Sent to Governor</a></h4>



<p>The direct distribution was not the only PERA-related measure the legislature passed in 2020. Other bills included: </p>



<ul><li>A temporary change to the contributions judges make to PERA</li><li>Reclassifying state firefighters as safety officers</li><li>An expansion of working-after-retirement exemptions for certain employees hired by a board of cooperative services (BOCES).</li></ul>



<h4 class="wp-block-heading"><a href="https://peraontheissues.com/peras-chief-investment-officer-addresses-market-drop/" target="_blank" rel="noreferrer noopener">PERA’s Chief Investment Officer Addresses Market Drop</a></h4>



<p>Those who follow the stock market can sum up 2020 with one word: volatility. The end of March saw a sharp sell-off as stock prices plunged. The uptick that followed was nearly as swift as the initial drop. In the midst of this uncertainty, PERA&#8217;s Chief Investment Officer, Amy C. McGarrity, penned a letter addressing PERA’s strategy.</p>



<h4 class="wp-block-heading"><a href="https://peraontheissues.com/change-is-coming-to-pera-on-the-issues/" target="_blank" rel="noreferrer noopener">Change is Coming to PERA On The Issues</a></h4>



<p>After nearly eight years in publication, PERA On The Issues received a makeover. The new site design contains updates to improve the reader experience. For example, stories now look better on mobile devices, which is important as nearly half all people read PERA On The Issues on their phones. Although the site looks a bit different, the types of stories this site covers remains the same.</p>



<hr class="wp-block-separator"/>



<p>As 2020 comes to a close, we’re thankful to all our readers for continuing to rely on PERA On The Issues. In an environment awash with options, this website’s readership continues to grow. We’ll continue following and unpacking the issues that matter to PERA’s many stakeholders like we’ve done for years. We’ll see you in 2021.</p>


Year in Review: Top Stories of 2020


<p>You can trade stocks, apply for a mortgage, and hire a person to deliver your groceries to your doorstep, all without getting off the couch. With the internet in your pocket, it makes sense that you also could have a consultation with your doctor without leaving home.</p>



<p>Telehealth has been in the news for years, and the groundwork needed for the system to work in a widespread way has been growing. In 2010, 35 percent of hospitals had at least partial implementation of a telehealth system, according to a <a rel="noreferrer noopener" href="https://www.aha.org/factsheet/telehealth" target="_blank">2019 report</a> from the American Hospital Association. In 2017, that number was 76 percent.</p>



<p>Using telehealth can be both convenient and financially beneficial. Videochatting with a doctor can save a more expensive trip to an urgent care in some cases. If you live in a rural area rural areas, if it’s hard to get out of the house, or if it’s late at night, telehealth can provide a better way to access care.</p>



<p>While the use of telehealth has grown, it hasn’t necessarily kept pace with adoption rates of other technologies. First, availability does not always lead to usage. One recent <a rel="noreferrer noopener" href="https://www.kff.org/womens-health-policy/issue-brief/opportunities-and-barriers-for-telemedicine-in-the-u-s-during-the-covid-19-emergency-and-beyond/" target="_blank">article</a> by Kaiser Family Foundation stated “telemedicine in the U.S. had been minimal prior to COVID-19,” reporting that only “an estimated 15 percent of physicians used telemedicine to facilitate interactions with their patients.” Despite the upsides of telehealth, many people place an even higher value on face-to-face communication.</p>



<p>The adoption of telehealth also follows familiar socioeconomic patterns: A <a rel="noreferrer noopener" href="https://content.copera.org/telehealth-challenges-and-opportunities-during-a-pandemic/" target="_blank">story</a> in Health Affairs states that community health centers, which deliver healthcare to nearly 30 million low-income patients have not been able to keep pace with deeper-pocketed hospitals. In Colorado, only 28 percent of community hospitals <a rel="noreferrer noopener" href="https://www.aha.org/center/emerging-issues/market-insights/telehealth" target="_blank">reported</a> using telehealth as an option for consultations as of 2017.</p>



<p>But these studies and reports all took place prior to COVID-19.</p>



<p><strong>Shutdown Brings Skyrocketing Demand</strong></p>



<p>The global pandemic has brought a jolt to telehealth prospects as the risk in seeing a doctor in person grew from negligible to considerable overnight. In a <a href="https://www.copera.org/telehealth-challenges-and-opportunities-during-a-pandemic" target="_blank" rel="noreferrer noopener" class="broken_link">press release</a>, the company eClinicalWorks claimed that its network of 40,000 physicians went from spending 100,000 minutes per day using its telehealth platform to more than 1.5 million per day by April 6. LiveHealth Online, the telehealth service available to PERA retirees enrolled in an Anthem PERACare plan, saw usage at the end of April rise 30 to 50 times higher than pre-March averages.</p>



<p>Changes in <a href="https://www.brookings.edu/research/removing-regulatory-barriers-to-telehealth-before-and-after-covid-19/" target="_blank" rel="noreferrer noopener">regulation</a> have increased access, too, as longstanding disagreements over licensure and reimbursement details regarding Medicare providers have quickly been swept aside as this once-experimental option has quickly became the only option. Some <a href="https://khn.org/news/coronavirus-fuels-explosive-growth-in-telehealth-%e2%80%95-and-concern-about-fraud/" target="_blank" rel="noreferrer noopener">have stated</a> concerns about billing fraud and abuse, but, for now, the urgency to find new, safer ways to provide care overshadows what were compelling hesitations a few months ago.</p>



<p><strong>Telehealth After the Pandemic</strong></p>



<p>Will the sudden momentum brought by COVID-19 have enough inertia to bring telehealth into the mainstream after this crisis?</p>



<p>Some experts <a rel="noreferrer noopener" href="https://www.forbes.com/sites/joeharpaz/2020/05/04/5-reasons-why-telehealth-here-to-stay-covid19/#682e577753fb" target="_blank">argue</a> that the combination of market incentives ($175 billion by 2026, according to one estimate), created a massive opportunity to make an impression on a large number of first-time users; continued improvements in technology and the user experience puts a future of widespread telehealth adoption within reach. </p>



<p>Others point out obstacles such as socioeconomic disparities, <a rel="noreferrer noopener" href="https://www.theverge.com/21277936/telehealth-english-systems-disparities-interpreters-online-doctor-appointments" target="_blank">language barriers</a>, and the <a rel="noreferrer noopener" href="https://mhealthintelligence.com/news/consumers-like-telehealth-but-still-prefer-face-to-face-healthcare" target="_blank">perception</a> of sacrificing quality for convenience that current models must still address.</p>



<p><strong>An Opportunity for Innovation</strong></p>



<p>The scramble to meet patient needs amid sudden disruption has not only expanded the reach of telehealth, it has also opened up the opportunity to experiment.</p>



<p>Prior to March, telehealth services often mimicked the urgent care model: You could call in to get care quickly, but the doctor on the other end of the screen was not a provider you knew.</p>



<p>Linart said that the pandemic led to some providers offering consultations directly to their patients using non-specialty tools, like Zoom, FaceTime, or Google Meet—essentially creating a telehealth option for their patients overnight. For some, knowing you can talk with a doctor you know on a platform you’re already familiar with could mitigate some of the barriers to using telehealth. </p>



<p>This bootstrap model is likely to face a more critical eye as health delivery slowly gets back to normal, but the appeal from a customer perspective is apparent. It’s hard to undo success.</p>



<p>Regardless of what changes in the years ahead, one thing seems certain: telehealth is not going to go away. You won’t find an expert who thinks telehealth is just a fad. The question is when, not if. Or, as law professor Kristi V. Kung put it in an article on <a href="https://healthtechmagazine.net/article/2020/06/how-will-telehealth-change-after-pandemic" target="_blank" rel="noreferrer noopener">HealthTech</a>, “we can’t put the genie back in the bottle.”</p>



<p>Linart agrees: “I really think the use will stay,” she said. “Maybe it won’t be quite as high as it is now because some types of appointments are better in person, but there will be more things that people will want to do virtually.”</p>


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