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- Feb 06
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Dan McGrath
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Tax on the rich to fund healthcare – it’s already be done.
In our current political climate politicians and pundits are advocating that a new tax on the rich to fund healthcare be implemented. The problem with this request is that there is already a tax in place that hits the rich […]
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- Jan 27
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Dan McGrath
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2019 Retiree Healthcare Costs
Though premiums within Medicare have stabilized over the last 2 years the overall projected healthcare costs for a couple, both 65 years old today, projecting to live until age 87 for the female and 85 for the male is expected […]
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- Jan 30
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Dan McGrath
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Demographics, There Are Numbers and There Are Numbers.
Webster’s Dictionary defines demographics as “the statistical characteristics of human populations (as age or income) used specifically to identify markets.”
In the United States, we often break down the population into generations. The most common generations are the Baby Boomers, Generation X (Xers), Generation Y (Millennilas) and finally Generation Z.
The Pew Research Center and others define the Baby Boomers as those between the years 1946 through 1964. The Gen Xers were born between 1965 and 1980. The Millennials between the years 1981 through 1997, and finally Gen Z from 1998 and 2014.
The population in America is growing. This is from births and immigration. However, the problem that few want to address is the fact that the generations have not been growing at consistent rates. The consequences of the inconsistent growth may produce dire consequences. (more…)
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- Nov 12
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Dan McGrath
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Medicare’s 2017 Part B premium will increase by just over 10%
The Centers of Medicare/Medicaid Services (CMS) announced that Part B coverage for those beneficiaries who are enrolled into Medicare will be $134.00 per month in 2017. This new premium is just over a 10 percent increase in Part B premiums […]
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- Oct 26
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Dan McGrath
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Fidelity Investments $245,000 health care cost estimate is less than truthful and they know it
Fidelity Investments $245,000 healthcare 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 […]
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- Apr 07
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The Jester
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Sex changes in prisons, not the only high health costs tax payers will face
Many in this country have by now heard about the most recent case of a California inmate successfully suing that state for a sex change, setting taxpayers back about $100,000.
A federal judge ruled in favor of the inmate, stating that under the 8th Amendment within the United States Constitution, any denial of treatment “violates her rights to adequate medical care.
On the surface, this may seem absurd: a man, who committed a crime and was sentenced to spend time in jail, can receive funds to undergo a complete sex change.
But believe it or not, if the person who is imprisoned can prove that the services to be rendered to them are behavioral, then that person is protected by the 8th Amendment, which states that “no cruel and unusual punishment can be inflicted.”
Thus, services have to be rendered, and such was the case in Massachusetts where a “transsexual inmate convicted of murder” was “entitled to a taxpayer-funded sex change operation as treatment for her severe gender identity disorder.” (more…)
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- Mar 19
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The Jester
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And the Regulations will be Televised
Rejoice, Americans – Congress has done it again! Another year and another opportunity to punt the Medicare/Health Spending can down the road…
Back in 1997, our government began its quest to tackle the unsustainable increase in healthcare spending by enacting legislation which created a formula, aptly titled “the Medicare Sustainable Growth formula”, through the Balanced Budget Act of 1997 (BBA).
This formula was designed to limit the “growth in spending for physicians’ services by linking updates to target rates of spending growth. The law provides for a mechanism for enforcement of the target rate of growth. When spending increases exceed the targeted rate of growth, payments are automatically reduced across the board”. (more…)
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- Mar 10
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The Jester
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Money for nothing and your healthcare for free…I want my subsidies
“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…)
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- Jan 13
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The Jester
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Think you will never go in nursing home? You’re probably right, but for all the wrong reasons.
They say invincibility is a trait of the young. It’s a mindset that changes gradually with knowledge, education, and wisdom. It’s also something a person gets over as they become less ignorant later in life. But apparently today, many supposedly older and wiser people still believe they are invincible.
Ask any financial planner worth their weight in salt about trying to help prospective clients and current clients with Long-Term Care planning, and the usual reply from a vast majority of them is along these lines: They will either never need any long-term care, or that they will never go into a nursing facility.
The problem with this invincibility mindset (besides being flawed in its most basic assumption), is when one looks at the data that surrounds this issue. Yes, the logic behind this belief of one never going into a nursing facility is most likely spot on, and the statistics support it. However, being right in this case is because of the completely wrong reasons. (more…)
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- Nov 13
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The Jester
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5 Reasons why you need an Annuity that the Motley Fool will never tell you
For the past few years, the Motley Fool has been releasing articles on the five worst things that you can do with your money. Their latest advice (brought to you by Sean Williams, a “Fool” since 2010), does not make sense in the big picture of retirement, especially when your health care costs are factored in, but does your health really matter to the financial industry?
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