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Medicare Open Enrollment Starts October 15: Is It Time to Change Plans?

Sep 21, 2020

Medicare’s Open Enrollment Period, during which you can freely enroll in or switch plans, runs from October 15 to December 7. Now is the time to start shopping around to see whether your current choices are still the best ones for you.   During this period you may enroll in a Medicare Part D (prescription…

How Secure Is Social Security?

Sep 15, 2020

For years people have been worried about Social Security’s future, but what is the actual outlook? According to the federal government, unless Congress acts to intervene, Social Security shortfalls are expected beginning in 2035. Social Security retirement benefits are financed primarily through dedicated payroll taxes paid by workers and their employers, with employees and employers…

Don’t Wait Too Long to Purchase Long-Term Care Insurance

Sep 8, 2020

The older you get, the harder it is to qualify for long-term care insurance. If you are interested in buying this insurance, it is better to act sooner rather than later. Many people put off purchasing long-term care insurance until they need it, but by then, it may be too late. Not only do premiums…

Husbands Usually Don’t Consider Their Wives’ Future When Deciding When to Take Social Security Benefits

Sep 4, 2020

The amount of Social Security benefits a surviving spouse receives depends, in part, on when their deceased spouse began claiming benefits. However, husbands usually don’t take survivor’s benefits into account when claiming benefits, according to a recent study, meaning that many widows will needlessly experience a significant drop in income. Because women typically live longer…

Problems With Guardianship System Was Focus of John Oliver Show

Aug 28, 2020

John Oliver has highlighted problems with the guardianship system on his HBO show, Last Week Tonight with John Oliver The comedian provided a scary and funny explanation of how guardianship works, ending with a public service announcement by William Shatner, Lily Tomlin and others explaining steps you can take to avoid the guardianship. The show…

Fear of Losing Home to Medicaid Contributed to Elder Abuse Case

Aug 18, 2020

A  daughter and granddaughter’s fear of losing their home to Medicaid may have contributed to a severe case of elder abuse. If the pair had consulted with an elder law attorney, they might have figured out a way to get their mother the care she needed and also protect their house. Amanda Havens was sentenced…

Five Tips for Starting Retirement Planning in Your 50’s

Aug 14, 2020

When it comes to retirement planning, many Americans find themselves underprepared. A majority of baby boomers (born between 1946 and 1964) and Generation X’ers (born between 1965 and 1978) often end up without retirement savings or don’t have realistic expectations about post-retirement costs. According to the Insured Retirement Institute, only 25 percent of boomers are…

Which Nursing Home Rating System Should You Trust?

Aug 11, 2020

Choosing a nursing home for a loved one is a difficult decision and it can only be made more confusing by the various rating systems. A recent study found that using both Medicare’s Nursing Home Compare site and user reviews can help with the decision making. The official Medicare website includes a nursing home rating…

Can You Transfer Your Medicare and Medicaid Plans When You Move to Another State?

Aug 5, 2020

If you plan to move states, can you take your Medicare or Medicaid plans with you? The answer depends on whether you have original Medicare, Medicare Advantage, or Medicaid. Medicare If you have original Medicare (Plans A and B), you can move anywhere in the country and you should still be covered. Medicare is a…

8 Tips for Having ‘The Talk’ with Elderly Parents

Jul 30, 2020

Talking about estate planning is a difficult, emotional topic but it’s essential for every family. Unless you’re certain your parents have an up-to-date will and a wider plan for what should happen in the event of their passing, you shouldn’t assume everything will be taken care of. According to a 2017 survey, less than half…