The federal estate tax lapsed (was “repealed”) on January 1, 2010. But under current law, it will automatically rise from the ashes on January 1, 2011 and, unless Congress intervene, only $1 million per estate will be exempt from a stiff estate tax in upwards of 55%. That compares with a $3.5 million exemption and […]
Category: Life Transitions Planning
Many of the provisions of the new health-care law have not yet been implemented, yet a new wave of scans seeking to exploit the uncertain ease of a new health-care law have already begun. State insurance commissioners and attorneys general are warning consumers about these woo often aggressive for scam artists, that are often targeting […]
If you have long-term care insurance, brace for the possibility of a steep increase in premiums this year. Some of the largest long-term care (LTC) underwriters are asking state regulators for large increases on some policies this year.
The current ultra-low interest rate environment is a key reason for the rate hikes. Low rates have cut […]
Several changes are coming to Medigap plans, which supplement Medicare’s coverage. In June 2010, four current plans will be dropped and two new plans will be added, bringing the total number of available Medigap plans to 10.
Between copayments, deductibles, and coverage exclusions Medicare does not cover all medical expenses. To supplement Medicare coverage, you may […]
Many of our clients have asked us what impact, if any, the legislative health care reform being considered would have on their future long term care costs. Most of the discussion about health reform has centered on issues like the “public option” and abortion restrictions. Putting aside the issue of whether such reform is warranted, […]
It is that time of year again — time to reassess whether your Medicare plan is working for you. Medicare’s open enrollment period began November 15 and continues until midnight December 31. During this period, you may enroll in a Medicare Part D (prescription drug) plan or, if you currently have a plan, you may […]
As the New Year approaches, taxpayers around the nation are thinking about making gifts or other financial moves before January 1 that will benefit them come April 15, 2010. Here are some year-end considerations relating to gifting, distributions from retirement accounts, charitable donations, retirement account rollover options and more.
A Reprieve on RMDs
Last year, as the […]
Price rollbacks throughout the U.S. economy during the past year did not apply to long-term care service providers, according to the 2009 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs. Private room nursing home rates rose 3.3 percent to $79,935 a year or $219 a day, while assisted […]
Many people think that estate plans are for someone else, not them. They may rationalize that they are too young or don’t have enough money to reap the tax benefits of a plan. But as the following list makes clear, estate planning is for everyone, regardless of age or net worth. (For more information on […]
After not rising last year, the basic premium for Medicare Part B will shoot up 15 percent to $110.50 a month in 2010 from $96.40 in 2008 and 2009. But most beneficiaries will be exempted from paying this increase. Whether the rest will be able to avoid it as well remains to be seen.
The explanation […]
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