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Private retirement savings plans, like IRAs and 401(k)s, have become the main way for American families to save for retirement. But parents of children with special needs need to be vigilant when signing up for a retirement plan or company life insurance program.
Most retirement accounts allow the owner to choose a designated beneficiary to receive […]

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 […]

Whether it’s an honor or a burden (or both), you have been appointed trustee of a trust. What responsibilities have been thrust upon you? How can you successfully carry them out? Here are nine do’s and one don’t to get you started:

Do read the trust document. It sets out the rules under which you will […]

A million low-income seniors have become eligible for a big assist on prescription drug expenses this year under a newly expanded federal program. The subsidy can defray thousands of dollars in costs, and in many cases eliminate prescription drug expenses entirely for participating seniors.
The Extra Help program which is administered by the Social Security Administration […]

The Good – The Estate Tax Is Repealed, For Now
Effective January 1, 2010, there is no longer a tax on the estates of those dying during 2010. Although Congress may reinstate the tax retroactively in 2010, perhaps as part of broader tax reform, this is by no means a certainty. 
If Congress fails to act, the […]

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 […]