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Lack of jobs, debt contraction across the economy and people lacking needed employable skills have all contributed to increased use of safety nets. Government welfare is being used by one in six Americans. Just as private debt contraction by households and businesses is driving people to government safety nets, future debt contraction within the government promises Continue reading Government Welfare: A Growth Industry Threatened by Government Debt Contraction A new study estimates that 20% of Americans suffered a significant financial loss last year – the highest level in the past 25 years. The new Economic Security Index looks at the interaction of three key variables that have a direct bearing on a person’s finanncial security: income loss, medical expenses and debt. The index, which tracks Continue reading Big Drop in Financial Security Due to Income, Medical Costs and Debt 1. Life Insurance Rates are Lower, Even Though You’re Older: Premiums have plummeted over the past decade, and you may be able to save hundreds of dollars by reshopping your policy, even though you’re older now. Term-insurance prices varied widely in 1998, and many major insurers were charging a 40-year-old man at least $750 per Continue reading Your Health and Insurance Costs – Four Ideas to Cut Your Costs Right Now High-income households will be paying more into Medicare taxes as a result of the new health care reform law and the “fixes” to that package that passed Thursday. See the full article Firm after firm spews out reports about how you’ll need hundreds of thousands of dollars to cover health-care expenses in retirement. Are those costs real or is this — as some cynics suggest — a ploy on the part of investment firms to gather assets and generate revenue? See the full article No more worrying about lifetime limits on health coverage, about whether your insurer will dump you when you get sick, or about whether your adult child will be booted off your plan when he turns 18. See the full article I’m not the first one to note that health insurers’ use of the term “explanation of benefits” is an oxymoron. For my part, when I get an EOB in the mail, I scan quickly to the “patient owes” part and pretty much skip the rest. See the full article Many Americans pay far more than they have to for medicines. Here’s how you can save money. Part of the problem is that each health plan covers prescriptions using a different formulary and cost-sharing scheme, so consumers often only see what the co-pay is. But this is changing as more people become uninsured Continue reading Save Money On Prescription Drugs – Here’s How Lack of health care insurance or timely access to your regular doctor doesn’t have to mean going without needed health care. See the full article |
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