Utah Gov. Spencer Cox and Lt. Gov. Deidre Henderson speak to a reporter during an aging symposium on Jan. 14, 2025 (Courtesy of the Governor’s Office)
Everyone has 65 years to prepare to become a 65-year-old, one panelist said during a symposium on Utah’s aging population. But, amid inflationary pressures and a change of social dynamics, especially after the COVID-19 pandemic, growing older has become harder to manage.
That’s according to experts who spoke at Aging with Wise Purpose, an event hosted by Gov. Spencer Cox on Tuesday exploring solutions to issues including retirement savings, infrastructure, health care and mental health.
Cox, who has been a proponent of different measures addressing the increased rates of depression, anxiety, loneliness and suicidal thoughts in the state, said that one of his focuses centers around the need for social connection, especially with seniors.
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“Even just a little engagement or connection can make a big difference in the way people react,” Cox told Utah News Dispatch. “Not just their mental health, but their physical health.”
He referred to research by Julianne Holt-Lunstad, a professor of psychology and neuroscience at Brigham Young University, that indicates that lacking social connection has health impacts that are comparable to smoking up to 15 cigarettes a day.
Just hanging out with seniors can make a substantial difference. But, what can the community and government do to make aging a smoother process?
Cox and Lt. Gov. Deidre Henderson spent the day listening to experts about best practices, including knowing the amount of money to save in order to comfortably retire — according to Robert Spendlove, a senior economist at Zions Bank, that’s about $2 million for those who are currently making $100,000 annually and want to maintain their lifestyle.
“One of the things that kind of struck fear in my heart is this idea that we’re not prepared at all for the aging population that is heading our way,” Henderson told Utah News Dispatch. “We’re not prepared in terms of retirement. We need to rethink our social capital.”
The governor has ideas to help with that. He included tax cuts for aging populations in his budget proposal, and the state also sponsors services such as Meals on Wheels to improve the food security odds of seniors. Cox hopes to get more funding to potentially eliminate waitlists for these types of programs.
And, ahead of the 2025 legislative session, scheduled to convene on Tuesday, lawmakers also have their eyes on bills to decrease the amount of money coming out of seniors’ accounts. Rep Walt Brooks and Sen. Wayne Harper, R-Taylorsville and R-St. George, are sponsoring a bill expanding eligibility for the Social Security benefits tax credit.
Harper is also hoping to modify the circuit breaker program, which provides relief to qualifying renters and homeowners.
“If your income is less than $38,000 then you’re eligible for anywhere between about $1,800 and a $250 relief money program tax,” Harper said during the symposium. “If this bill goes through, I will create an additional bracket. The highest one would have a credit amount up to $2,000 and anybody making under $46,000 a year in income would have a $250 credit.”
Utah is also planning on a prediction by Kem C. Gardner Policy Institute demographers to become true — the state is expected to have older and smaller households in the future, reducing the number of family members who can take care of aging Utahns.
However, among the factors that still need work, there is also a positive side, Cox said.
“We have an untapped group of people, those who are retired, who can give back to the state in big ways,” he said, referring to volunteering opportunities, which according to the Utah Commission on Service and Volunteerism, can bridge the gap among Utahns with different beliefs.
According to Cox, it can also bring together different generations.
“One of the problems we have as a society is we’ve disconnected generations. It used to be very common for multiple generations to live together in the same homes. We don’t do that anymore,” he said. “People go to facilities where they’re taken care of, and that’s important. Sometimes that has to be that way. But, that lack of connection really hurts.”
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