Money for nothing and your healthcare for free…I want my subsidies
- ACA, Affordable Care Act, Dan McGrath, Filial Support Law, financial planning, Health, Health Costs, Health Insurance, Healthcare, Healthcare Costs, Long Term care, Medicaid Recovery Act, Medicare, Obamacare
“Money for nothing and your health care for free…”
Not exactly the line from the 1985 Dire Straits hit, but lately it seems to fit the mantra of many in the country, especially after the Affordable Care Act passed and everyone learned about “subsidies”.
“I want my, I want my, I want my subsidies…”
According to the ACA, and when our government decides to enforce our nation’s laws (keep in mind that the ACA passed in 2011 and was put on hold for a while), everyone must have health insurance or else. But for those who happened to be earning below certain specified amounts, they just may qualify for “money for nothing and health care for close to free”. The qualifications are outlined below: (more…)Read more
Merrill Lynch survey – top retirement concern is health care costs
- CMS, CNBC, financial advisors, financial planning, financial plans, Health Care, Health Costs, Healthcare, Healthcare Costs, Medicare, Merrill Lynch, Retirement
According to a recent survey conducted by Merrill Lynch it would appear that, for people 50 years old and older, the major concern in retirement was the overall cost associated to health care.Read more
The impact of your healthcare on your Social Security
- Fidelity Health Care, financial planning, Health, Health Care, Health Costs, Health Insurance, Healthcare, Healthcare Costs, Medicare, Retirement, Social Security
There is a lot of talk about planning for Social Security from the financial industry, which is great as people need to know how to generate the most amount of income possible in retirement at the lowest penalty, but the scary part: NO ONE IS PLANNING FOR HEALTHCARE COSTS.
Here is a breakdown of the impact that Medicare may have, if everything just stays the same, on an average couple in retirement:Read more
Fidelity Investments’ $220,000 Healthcare Number, is it right
- Annuities, Fidelity, Fidelity Health Care, financial planning, Health Costs, Healthcare Costs, Life Insurance, Market watch, Means Testing, Medicare, MediGap, Part B, Part D, Plan F, Retirement, Social Security
It seems like every spring season there is a new healthcare amount announced by Fidelity Investments for people who are turning 65 during the year and this spring season is only slightly different from the last.
This difference lies in the total cost or the reduction of the overall cost of projected healthcare, which Market Watch, ABC, Kiplinger’s and even Nationwide is also heralding.
For those who are 65 years old today and entering into retirement today they are being told by Fidelity and the financial community to prepare for a total cost of $220,000 for their healthcare in retirement which, just happens to be a reduction from the previous year when Fidelity pegged the total cost at $240,000. (more…)Read more