Monthly Archives

September 2012

4 reasons health care costs continue to rise

By Making the Most of your Medicare No Comments

Health care costs and premiums go hand-in-hand it is a question asked hundreds of times: “Why are my health care premiums going up when I only went to the doctor once?”   A lot of people think their premiums increase only because they’ve used too many health care services — like what happens to your car insurance if you get too many speeding tickets. But that’s not how individual health plans work. Premium adjustments are based on age, location and — most importantly — the expected cost to pay members’ claims in the upcoming year. As that cost continues to go up, premiums go up. Even for people who don’t use a lot of health care services. The fact is that costs are rising rapidly within the whole health care system. By 2019, the U.S. will spend about $4.4 trillion on health care.1 Yes, trillion with a “t.” It’s hard to…

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Is timing social security payments possible

By Making the Most of your Medicare No Comments

We all know that timing the market is impossible but is timing social security payments possible? With new technology, it may be possible to input your information and choose the correct time to draw monthly benefits.  This information may not help people age 65 and older, but their children will certainly appreciate the advice below. When to elect Social Security may be the most important decision a couple makes about their retirement.  In fact, the difference between the best and worst Social Security election decision can be to a $100,000 difference in lifetime benefits. This is critical when you consider how important Social Security income is to the average retired couple. Social Security benefits in 2008 accounted for on average 64.8% of total income for recipient households with someone aged 65 or older, according to a SSA report, Income of the Population 55 or Older, released in 2008. It is…

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