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You can obtain financial help, tax breaks while caring for parents
If you’re paying your parents’ bills, don’t overlook these sources of money and tax breaks. • Medicaid. Medicare provides only limited coverage for skilled nursing or rehabilitation services after a hospital stay. It doesn’t cover custodial care, such as help with…
Annual U.S. Healthcare Spending Hits $3.8 Trillion
The last time I wrote this headline was in 2012 and the amount was $3 trillion (here). To arrive at that figure in 2012 I added the Sustainable Growth Rate deficit (accrued over 10 years) to our National Healthcare Expenditure.…
Saver’s Credit may help you save more for retirement
According to the IRS certain workers that are saving for retirement may be able to earn a special tax credit — the saver’s credit. The saver’s credit, also known as the retirement savings contribution credit, may help offset part of…
Social Security: One Size Doesn’t Fit All
Whether you are married, divorced or are a surviving spouse, when and how you take your benefits can dramatically impact your bottom line. In a new report issued by Prudential Financial, it was revealed that many Americans are missing out…
Covering the Bases: Check Plan D drug plan before moving to another state
This winter weather has been horrific and I finally have made the decision to be a snowbird. I plan on living the majority of the year in Maryland and move to Florida for the winter. I have Medicare A and…
Social Security needs to take corrective action to reduce overpayments
An overpayment is messy. It results when either the Social Security Administration (“SSA”) makes a mistake or when a claimant fails to notify the SSA about income or resources. Either way it is messy. The SSA then takes action…
Did President Obama Steal His MyRA from AMAC’s Social Security Guarantee?
President Obama took a tip from the Association of Mature American Citizens in his State of the Union speech on Tuesday, proposing a retirement savings program. Dan Weber, AMAC president, noted that “the president’s MyRA plan sounds an awful lot…
The trouble with Obama’s myRA plan
Real life isn’t always a “Field of Dreams,” where “if you build it, they will come.” Instead, there are times when you build it, and they go “Ho-hum,” and mostly ignore you. So while any effort to encourage increased retirement savings among…
New Part D Regulations: A Lesson In Hamstringing Competition And Choice
Recent regulations from the Centers for Medicare and Medicaid Services (CMS) threaten to undermine the highly successful Medicare Part D prescription drug program for seniors. The regulations replace market-based competition with government interventions that will drive up costs, erode incentives for…
Social Security Disability Benefits for Individuals with Cancer
If you have been diagnosed with cancer and can no longer work or earn a living, you may be eligible to receive Social Security Disability benefits. These benefits are intended to provide financial assistance to individuals living with serious illnesses…