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Lilly says Alzheimer’s drug slows clinical decline in mid-stage trial

Jan 11, 2021

(Reuters) – Eli Lilly and Co said on Monday (1/11/2021) a trial of its experimental Alzheimer’s drug donanemab showed it slowed by about a third the rate of decline in a combined measure of cognition and function in early-stage victims of the disease. The drug is an antibody designed to remove clumps of the Alzheimer’s-related…

Medicare Drug Cards May Be Sent Out in January

Dec 29, 2020

President Trump’s plan to send $200 drug-discount cards to Medicare beneficiaries has cleared one hurdle, but it isn’t certain that the administration will have enough time to actually get the cards in the mail.  When Trump announced in September his intention to send out the cards as a campaign promise, the idea sparked controversy both within and outside…

Can You Visit Nursing Home Residents After They are Vaccinated?

Dec 19, 2020

COVID vaccines are starting to roll out to nursing homes across the country, signaling the beginning of the end of the pandemic. Once your loved one has had both doses of the vaccine, you may be able to visit, but precautions are still necessary.  The federal government entered into a partnership with CVS and Walgreens…

What Is Critical Illness Insurance and Is It Worth Buying?

Dec 16, 2020

Many employers offer critical illness insurance as part of their benefit package. What is this insurance and is it worth purchasing? You should consider your options before paying for a plan.  While a regular health insurance plan usually offers comprehensive coverage for all types of illnesses, many plans have high deductibles and copays that require…

Who Should Purchase Long-Term Care Insurance?

Dec 10, 2020

Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Long-term care – care in a nursing home or at home — may be paid for in four main ways:  Out-of-pocket. If you have…

Medicare Premiums to Increase Slightly in 2021

Dec 4, 2020

Medicare premiums are set to rise a modest amount next year, but still cut into any Social Security gains. The basic monthly premium will increase $3.90, from $144.60 a month to $148.50. The Centers for Medicare and Medicaid Services (CMS) announced the premium and other Medicare cost increases on November 6, 2020. The hike could…

Special Tax Deduction for 2020 Allows Donations of $300 to Charity Without Itemizing

Nov 25, 2020

As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year. Since the increase in the standard income tax deduction in 2018, only 11 percent of taxpayers itemize deductions, so…

Ability to Withdraw Money Early from Retirement Plan Without Penalty Expires at the End of the Year

Nov 20, 2020

If you are experiencing financial hardship due to the coronavirus pandemic, you may want to consider withdrawing money from your retirement account while you still can. The special exemption allowing early withdrawals without a penalty ends soon.  Passed in March 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act allows individuals adversely affected by the pandemic…

Watch Out for These Potential Problems with Life Estates

Nov 18, 2020

Life estates can be an excellent tool for Medicaid planning, probate avoidance and tax efficiency, but there are potential problems to look out for. Knowing the implications and risks of a life estate is essential in determining whether it is appropriate for your situation.  In a life estate, two or more people each have an ownership interest…

How to Reverse Medicare Surcharges When Your Income Changes

Nov 9, 2020

What happens if you are a high-income Medicare beneficiary who is paying a surcharge on your premiums and then your income changes? If your circumstances change, you can reverse those surcharges. Higher-income Medicare beneficiaries (individuals who earn more than $85,000) pay higher Part B and prescription drug benefit premiums than lower-income Medicare beneficiaries. The extra amount the…