If you are a senior on Medicare you may have received a letter from the Social Security Administration (SSA) stating that your Medicare payments will be higher next year due to an Income Related Monthly Adjustment Amount (IRMAA). That’s because parts of Medicare insurance are means-tested. In other words the more you earn, the more…
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It’s open enrollment season right now, and this is the time to review (among other things) your healthcare insurance. Whether you are an employee of a company providing insurance benefits, a retiree ensured through Medicare, or an individual or family utilizing private insurance through the ACA (Covered California in our state), you will probably be…
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Are you holding a variable annuity (VA) that you purchased some time ago from an enthusiastic insurance salesperson? It behooves you to periodically review it to see if its purpose, cost, and value are still aligned with your financial goals. Below are some steps you can take to better understand what you bought and whether…
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Under a new federal law passed on September 21, 2018, you can now freeze and unfreeze your credit files at no cost at each of the nationwide credit reporting agencies – Equifax, Experian, and TransUnion. This new law additionally requires the credit agencies to allow extended fraud alerts up to one year (vs. the current…
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Yes, according to the U.S. Centers for Disease Control and Prevention (CDC), which last year identified senior financial abuse as a public health hazard. Defined as fraud, breach of personal trust, poor investment advice, or improper use of power of attorney, the CDC’s effort highlights the fact that an increasing portion of total American assets…
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As you probably have heard, nearly half of all Americans have had their most sensitive personal data stolen from Equifax, one of the country’s three credit reporting bureaus. This is the biggest single data breach in American history, and we should all be very concerned about this situation. Here are my immediate observations and suggestions,…
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