Healthcare Costs

That Traditional 401(k) is bad for your health

The alarm has been sounded, we have been told that Social Security retirement may go bust and this has prompted a renewed call for employees to utilize Traditional 401(k) plans in order to save more for their retirement. The question though; What if that Traditional 401(k) plan winds up being bad for your health? Yes, Traditional […]

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Impact of Medicare’s IRMAA. Not all income is created equal

Since 2007, with the passing of the Medicare Modernization Act in 2003 and the Affordable Care Act in 2010 by Congress, Medicare has placed a surcharge, known as the Income Related Monthly Adjustment Amount (IRMAA), on top of the current Medicare Part B and Part D premiums for those retirees who earn too much income. […]

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CNBC Feature – Medical costs take big bite out of Social Security benefits

Social Security planning is a major focus for financial advisors and their clients — and with good cause. If you look at the data and statistics from Social Security, the reason is clear: Among elderly Social Security beneficiaries, 53 percent of married couples and 74 percent of unmarried people receive half or more of their […]

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CNBC “Are health-care costs really ‘just’ $245K in retirement?”

When it comes to planning for health care in retirement, I want to discuss a recent report from a financial services corporation that estimates a couple age 65 today should expect to incur $245,000 in total health-care expenses in retirement. For those who have experienced our nation’s health-care system at work — and the total […]

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Fidelity Investments $245,000 health care cost estimate is less than truthful and they know it

Fidelity Investments is at once again at it in terms of espousing healthcare wisdom. They announced their new projections on what retirees can expect to incur as costs for their health coverage in retirement, and it seems more than a little disturbing, especially when little things like facts and math are figured in… But hey, why […]

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Medicare’s 51.8% Part B premium will crush every state’s budget

As you may have heard the Medicare Board of Trustees in its 2015 Annual Report is calling for a 51.8 percent increase in the Medicare Part B premium. The premium is expected to jump up to $159.30 in 2016 from $104.90 in 2015. The good news, as we pointed out in “Social Security benefits appear to […]

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2016 Medicare cost projections from the Board of Trustees

Below is a breakdown of the projected costs and rates of inflation for Medicare coverage from the Medicare Board of Trustees “Annual Report”.  At this point, these are projections and should not be considered final.  The Centers of Medicare and Medicaid Services will release the final 2016 Medicare costs later this year. For Part A: […]

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Planning for healthcare in retirement – some pros & cons of investment products

As you may already know by now, you will have a mandatory expense in retirement known as health coverage, and surprise! – it will be determined by the amount of income you will have in retirement. In 1993 there were changes to Social Security’s Program Operations Manual System (POMS). A person receiving Social Security Retirement […]

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Immigration…Can it and should it last?

Many people may take the position that no matter where they look, it seems there are more and more people. Schools are overcrowded, traffic is backed up in our cities and on our highways, every flight is packed to the gills, and the line to get a simple cup of coffee is practically out the […]

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