Should I Buy Long-Term Care Insurance?

One of the most frequent questions I get from clients is whether to buy long-term care insurance. With the average cost of a private room in care facilities topping $94,000 a year, according to a 2013 study by insurer John Hancock, it’s a reasonable concern. Many of us will need some form of long-term care (LTC), so the question of whether to buy insurance to help with the associated costs is a real one. I think the decision is a very close call. At …

Keep Low-Income Medicare Beneficiaries From Falling Through the Cracks

The Affordable Care Act allows states to offer Medicaid to low-income adults who would not have qualified under previous law. Twenty-eight states and the District of Columbia offer this expanded coverage. Those who qualify will face higher cost-sharing requirements when they transition from Medicaid expansion coverage to Medicare, but some may be eligible for traditional Medicaid benefits or Medicare Savings Programs (MSPs) that will help reduce their costs. >> Get your questions about the health law answered here. Medicare beneficiaries …

Obamacare Enrollment for 2015 on Track to Surpass Target

WASHINGTON (AP) — Some 9.5 million people have already signed up for 2015 coverage under President Barack Obama’s health care law, and the administration is on track to surpass its nationwide enrollment target set last year. The Health and Human Services Department said Tuesday that more than 7.1 million people signed up in 37 states where the federal government is running the insurance markets, and another 2.4 million signed up in states running their own exchanges, through the middle of …

Cost of Retiree Dental Plans May Give You a Toothache

Boomers retiring without dental benefits, and Medicare recipients who don’t have a Medicare Advantage plan, may be surprised and dismayed by the latest study on the cost of dental coverage. Consumers paid an average $382 annual premium for a stand-alone dental plan through a government exchange this year, and that didn’t include deductibles and copays, according to the analysis of dental plans on the federal exchange by the website HealthPocket, which compares health plans. Deductibles averaged about $500 a year …

Overall, Obamacare Premiums to Fall in 2015

By Jay Hancock, Kaiser Health News In preliminary but encouraging news for consumers and taxpayers, insurance filings show that average premiums will decline slightly next year in 16 major cities for a benchmark Obamacare plan. Prices for a benchmark “silver” or mid-priced plan sold through the health law’s online marketplaces aren’t all moving in the same direction, however, a report from the Kaiser Family Foundation (KFF) shows. (Kaiser Health News is an editorially independent program of the foundation.) In Nashville, the premium …

Do a Midyear Checkup on Your Health Care Subsidy

Maybe you thought your work was done once you bought health insurance for the year on one of the government-run exchanges. Not quite. The IRS and other tax experts say now is a good time to revisit that purchase to make sure you’re getting the federal premium assistance you’re entitled to. Whether you’re getting too little – or too much and have to repay it later – there’s still time to contact the exchange and correct any errors for this year. >> Birthday …