In his 2014 State of the Union message, President Obama announced a new retirement savings program for people who do not currently have an employer-sponsored plan. The new investment product, called myRA, is a starter savings account aimed at low- and middle- income workers. Similar to a Roth IRA, the myRA accounts will allow workers Read more about Federal Government Creates New Retirement Savings Option: MyRA[…]

April 15th is approaching and it is time to begin crossing T’s and dotting I’s in preparation for paying taxes. As tax time draws near, you want to make sure you file all the proper forms and take all deductions you’re entitled to. Following are some things to keep in mind as you prepare your Read more about Seniors and Taxes[…]

Assisted living facilities offer basically the same services as board and care homes, but in a more “upscale” and homelike environment. Housing is often in small apartments and there is generally more space, privacy and recreational options. A premium is placed on retaining as much independence in living as possible, and care is more individualized. Read more about Assisted Living Facilities[…]

Absolutely.  Sometimes Medicare will decide that a particular treatment or service is not covered and will deny a beneficiary’s claim. Many of these decisions are highly subjective and involve determining, for example, what is “medically and reasonably necessary” or what constitutes “custodial care.” If a beneficiary disagrees with a decision, there are reconsideration and appeals Read more about Can You Appeal If Medicare Refuses to Cover Care You Received?[…]

A healthy 55-year-old man can expect to pay $925 annually for $164,000 in current long-term care insurance benefits, according to the 2014 Long-Term Care Insurance Price Index, an annual report from the American Association for Long-Term Care Insurance, an industry group. The Association noted that identical coverage cost 15 percent more in 2013, meaning that the Read more about Price of Long-Term Care Insurance Policy Drops, At Least for 55-Year-Old Males[…]

The federal government has tightened the rules regarding reverse mortgages, making it harder for some seniors to get these types of mortgages and reducing the amount of their home’s value that they can tap. The new rules are an effort to strengthen the federal Home Equity Conversion Mortgage (HECM) program, which insures almost all reverse Read more about New Rules Make It More Difficult to Get a Reverse Mortgage[…]