Should old-age social insurance be means-tested?
Almost everyone faces some risk of ending up old, sick, alone, and poor. The lengths of our lives are uncertain. Aging comes with increased chances of needing costly medical care. The loss of a spouse, often preceded by large medical bills, may leave one alone late in life. Absent a spouse or other family member to provide informal care, an expensive protracted stay in a nursing home may be needed due to dementia or disability