Small Business Boomers

Unless Congress intervenes, those receiving Social Security won’t see a cost of living increase in 2010. 
In all likelihood, there will be an increase in your Medicare and perscription deductions from your gross Social Security payment?  Supposedly, because of the recession, cost of living in the U.S. didn’t increase in 2009.
Will this affect many boomers?  Yes, those who are eligible for Social Security payments.  
However, is there anything that says we must have an increase each year?  Do all pensions have an increase built into them?  Is what we’re receiving more than what many paid into the system over the years? 
If the …read more

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President Obama promised to “fix” the health care situation in this country by guaranteeing health care to everyone.  That’s all well and good, but the money has to come from somewhere and guess who’s going to pay for it?  Yep.  Baby Boomers.  Here’s why: The President’s plan is going to cost $623 billion.  So his budget proposal includes “savings” in Medicare and Medicaid to finance the plan.
What Does “Savings” Mean? Now, before I go on, remember that the word “savings” is misleading.  The budget calls for increases in all kinds of things, including Medicare and Medicaid.  But if some changes …read more

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If you have been reading my posts on (1) Basics of LTC Insurance and (2) How LTC Insurance works with Medicare and Medicaid, you may have more questions than answers.
One basic I forgot to mention earlier is the difference in levels of care facilities. While these are general, and the experts would probably take issue with my descriptions, here is my understanding of what these terms mean (from my own experience):

Independent living facilities offer seniors the ability to live independently in apartments; a dining room is on premises. No nurse is on staff, but there are trained staff …read more

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A couple of days ago I wrote about the basics of buying long term care insurance. Today, some more thoughts, in particular about Medicare and Medicaid, so you can think about whether you want long-term care insurance. First, some basics, then a longer explanation:
Basics (I’m generalizing what is a very complicated subject, to illustrate. Please do your own research to be sure you have the full story):

Medicare only pays for acute care, for up to 100 days, after you have been in the hospital 3 days
After that, you go on “private pay” in a nursing home, …read more

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If you are at the upper end of the Baby Boomer spectrum (late 50s/early 60s) you may have considered long term care insurance. My husband and I have talked about it, and as we enter our 60s, we wonder if we should get it. So, for me and for you, I did some research. Over the next few days, I will discuss the pro’s and con’s of long term care insurance. I will show you what I found, give you some information, and let you make your own decisions.
First, a couple …read more

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