If you’ve ever had an insurance claim denied, especially a medical claim, you’re not alone. Insurers Deny Claims Without Reviewing Medical Records and Worse In 2015, an Aetna medical director testified under oath that he never looked at patients’ medical records before accepting or denying claims, making those decisions based on nurse recommendations. The case […]
Count on the government to name laws in misleading ways. For example, the so-called Affordable Care Act (ACA, also known as Obamacare). Before the ACA was enacted, our family had good coverage at a reasonable cost. Then came ACA, and President Obama pledged to the public, “If you like your health care plan, you’ll be […]
Health scares are scary enough on their own. Yet when deteriorating health is accompanied by diminishing wealth, it can turn into a nightmare. A new expose released by the Consumer Financial Protection Bureau (CFPB) reveals some alarming trends in the healthcare industry – “medical credit cards.” According to the CFPB report, these specialized credit products […]
Healthcare costs in retirement have doubled in the past 20-odd years, reaching $158k per retiree. And while that’s unchanged from last year, the upward march of this cost will likely restart soon. Learn what you can do now to improve your position to cover the fast-rising cost of healthcare in retirement. A year ago, Dave […]
Most people envision retirement as a relaxing and enjoyable time spent pursuing long-held dreams and hobbies. In the excitement of retirement planning, it’s easy to set aside thoughts of how poor health or an unexpected medical emergency might impact your plans. Specifically, your retirement nest egg could take a huge hit if you haven’t prepared […]
PACE provides healthcare services to frail seniors not covered by Medicare. It’s an alternative that allows seniors to stay in their homes. One of the biggest Medicare myths is that the program covers long-term nursing care. But that’s not the case. Medicare only pays for short-term stays in a skilled nursing facility (SNF). If this […]
There are a lot of things we spend on that are unnecessary, but there are 3 things that are always worth spending money on. Mindful spending is one of the keys to feeling in control of your finances and comfortable with your spending habits on any budget. There are an awful lot of things we […]
A couple of years ago, a friend asked me if I had long-term care insurance (LTCi). Since both of us are self-employed and closer to 60 than 50, it wasn’t just idle curiosity on his part. Neither of us has employer-sponsored coverage to help our families cope with the financial fallout if we suddenly lose […]
HSAs and HRAs (Health Savings Accounts and Health Reimbursement Arrangements) can help you cover healthcare-related expenses. However, the two are structured quite differently and have different pros and cons. It won’t be a shock to you to learn that healthcare costs in the US are out of control. In fact, in the past 75 years, […]