This past October, the Centers for Medicare and Medicaid Services came out with an eagerly-anticipated new rule expanding the ways providers can use telehealth and get paid by Medicare Advantage plans.
Retirement presents a unique set of challenges that many of us never think about even as we plan for it. Preparing for retirement is a different ballgame than what we played while working and building up our wealth. This is truer now than ever before as demographics continue to change and, as they do, so do our retirement needs. We're living longer, and the risk of outliving our money is very real for many of us. Add in other factors, like health care costs, taxes, inflation and volatility in the stock market, and retirement poses quite a few challenges.
People have long been conflicted about annuities. On the one hand, they like the guaranteed lifetime income that only these insurance products can provide retirees. In fact, a recent survey of people 55 and older found that 73% considered guaranteed income a highly valuable addition to Social Security.
Back in May, an angry constituent asked Congressman Raul Labrador, an Idaho Republican, why he had voted for the House health care bill, which the constituent claimed would cause people to die for lack of Medicaid funding. The Freedom Caucus member shot back with a now infamous retort: “Nobody dies because they don’t have access to health care.”
Insurance. One of the more boring products out there but also one of the most essential, especially in a privately-held business — even more importantly, in a business that is growing.
Social Security and Medicare—along with retirement income from sources ranging from pensions, a 401(k), an IRA or even rental income—are things you probably consider when planning for retirement. You may also worry about stock market performance and the costs of getting older. For most people, the biggest threat to their retirement is not a stock market crash. You can recover from that. A bigger threat is the cost of healthcare. A long illness requiring around-the-clock care can devastate your finances and few are prepared to cover those costs. This is where long-term care insurance (LTCI) can be a life-saver both emotionally and financially. The question is, a single person, do you really need it?