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Along with many other things, your insurance needs may change when you retire. It is a good idea to reevaluate your insurance options to figure out what is best for you and consider ways you might be able to achieve some savings.• Life insurance. Once you retire,...
More and more parents are moving in with their adult children. As nursing home costs continue to rise, some children and their parents find that living together may have certain financial and emotional benefits.But having a parent move in can be a big adjustment for...
If your Medicare drug (Part D) plan denies coverage for a drug you need, you can appeal the decision.The insurers offering Medicare drug plans choose both brand-name and generic medicines that they will include in a plan's "formulary." This is the roster of drugs the...
The federal government is issuing new Medicare cards to all Medicare beneficiaries. To prevent fraud and fight identity theft, the new cards will no longer have beneficiaries' Social Security numbers on them.The Centers for Medicare and Medicaid Services (CMS), the...
If you are the beneficiary of a trust, it may feel like you are at the mercy of the trustee. But depending on the type of trust, trust beneficiaries may have rights to ensure the trust is properly managed.A trust is a legal arrangement through which one person, called...
Are you afraid of losing your home if you have to enter a nursing home and apply for long term care Medicaid? While this fear is well-founded, transferring the home to your children is usually not the best way to protect it.Although a home generally does not have to...
The Department of Housing and Urban Development (HUD) has made changes to the federal reverse mortgage program. Citing the need to put the program on better financial footing, HUD has raised reverse mortgage fees for some borrowers and lowered the amount homeowners...
The main purpose of a will is to designate the beneficiaries (known as "devisees") to whom your assets are to be distributed after you die, but it can also be used to instruct the person responsible for administering your estate (known as your "personal...
Medicare benefits start at age 65, but many people continue working past that age. That makes it important to understand how Medicare and employer coverage fit together.Depending on your circumstances, Medicare is either the primary or the secondary insurer. The...
Even if you've created an estate plan, are you sure you have addressed everything you need to? Four important but often forgotten estate planning considerations are described below.1. Alternate beneficiariesOne of the most important things an estate plan should...