The Cost of Health Freebies

Many freebies come at a cost. And with unsolicited offers for supposedly free medical supplies and services, it’s often identity theft. As your phone likely continues to ring with robocalls touting “free” medical alert systems — a scam that’s been going strong for more than a year (with some calls still lying about phony AARP ties and bogus coupons) — expect other equally dubious deals. Some offer “no-cost” medications and supplies for diabetes or other conditions. Others are even bolder, claiming that “doctor-ordered” …

Your New Retirement Number: $58,000

En español | Financial experts seem to speculate endlessly about boomers’ projected lifestyle in retirement based on their savings and spending patterns. Now a new survey that polled recent retirees about their standard of living has found that, for some, you don’t need a lot of money each year to retire comfortably and live happily. According to the survey by Baltimore-based investment firm T. Rowe Price, recent retirees report living on 66 percent of their pre-retirement income on average – $58,000 …

2014 Medicare Trustees Report Urges Responsible Solutions

The Medicare Trustees report today reminds us of the financial challenges facing Medicare, along with the overall high cost of health care. With 64 million Americans expected to be enrolled in Medicare by 2020, we must do more to reduce wasteful spending throughout our health care system. For starters, we can reduce costs and find significant savings in Medicare and throughout the health care system with responsible solutions rather than harmful cuts. By improving care coordination, utilizing technology more efficiently, …

Silence Could Be Costly in Family Financial Planning

Parents and their adult children say they want to have honest conversations about finances and retirement issues, but they just don’t agree on when to talk, according to a survey released today by Fidelity Investments. And when these discussions do eventually occur, they often don’t get down to the details needed for proper financial planning, the Boston-based investment firm found. Lauren Brouhard, senior vice president of retirement at Fidelity, urges families to bite the bullet and talk – before parents retire …

Not Everyone Is Living Longer

When it is unveiled in the coming weeks, the Social Security Trustees report will no doubt prompt the program’s critics to call for change, as it does each year. And one of their suggestions will likely be to raise the age of eligibility for Social Security and Medicare benefits. It sounds so reasonable. Isn’t everybody living longer? Unfortunately, the answer is no. >> Sign up for the AARP Advocacy Newsletter The truth is that gains in life expectancy are not …

Just How Strong Did Healthcare.gov Finish?

By Phil Galewitz, Senior Correspondent, Kaiser Health News Obama administration officials predict that health insurance premiums will be stable next year despite concerns that not enough young and healthy people signed up through the online insurance exchanges. “The risk pool is fundamentally large and varied to support that kind of pricing … in every state,” said Mike Hash, the director of the Health and Human Services Department’s office of health reform. “We believe … premiums will be stable.” The upbeat …