Saturday, June 30, 2012

Court’s ruling a wakeup call for Boomers

It’s official … Obamacare is here to stay. Of course, if Romney wins on November 6, it might get repealed. But that also depends on who controls Congress.

So what does this mean for Boomers?

Here’s my take:

The wealthy—

They’ll still be able to afford insurance premiums, no matter how high they get. And if their favorite docs stop accepting insurance — something I expect many will do — the wealthy will dip a little deeper into their own pockets.

The poor—  

They’ll likely have better access to medical care. They won’t have to go to emergency rooms for minor illnesses. And they might be encouraged to take more preventive steps, such as annual physicals.

The average Joes, like you and me—

We’ll get hit the hardest. Small employers will drop group health insurance, and our premiums will rise. Care will be tougher to get because more people will pile into waiting rooms. Read some of the horror stories from Canada and the UK to get an idea of what we’ll face.

Until we vote on November 6, there isn’t much we can do about this. It is what it is.

So let’s talk about …

Long-term care

Don’t expect Obamacare to give you any help with long-term care expenses. The CLASS Act entitlement was Obamacare’s first casualty and a huge embarrassment. I shouted from the rooftops over and over how this just would not work! Eventually someone in the administration woke up and quietly pulled the plug on it, hoping not to draw much attention. 

And as with healthcare the wealthy will simply write a check for their long-term care expenses, and the poor were already covered by Medicaid. So guess who is stuck in the middle again? Yeap, you and me.

But at least with long-term care you have some ways to assure you can receive the best care possible in case your health changes, without wiping out your nest egg. Insurance and Medicaid-planning are two examples.

This week’s ruling was indeed a wakeup call … hardworking Americans who have saved diligently all their lives must assume greater responsibility for their futures. The time to do that is now.

Have a good weekend,


Thursday, June 7, 2012

U.S. Ranks #1 in Generosity

Some refreshing news came out this morning that should put a smile on your face …
It seems that last year, Americans were ranked as the most giving people in the world in terms of donating our time and money to not-for-profit causes. That’s up from fifth place the year before.

Here are the findings: 65% of us donated cash, 43% gave time, and 73% helped a stranger.

Thailand led the pack in cash gifts: 85% of its residents opened their wallets. And the UK came in with 79%.
However, the Brits and most of the rest of the world are about half as likely to donate their time to charities as Americans, thereby boosting us to the #1 spot.

You can see the complete breakdown in the Huffington Post.

This should tell the occupiers and the wealth-distribution movement out there that despite personal and economic hardships, American's remain steadfastly committed to each other and their communities. 

And the simple truth is: For a greedy, capitalistic society, we aren’t so bad after all.

Best wishes,


Tuesday, June 5, 2012

Has your long-term care planning hit a roadblock?

Did you finally decide to take a big step in long-term care planning? Good for you!

But when you tried to buy insurance did the company reject you because you have a severe health issue, such as cystic fibrosis, diabetes, cancer, Parkinson's, multiple sclerosis, or osteoporosis? 

United Security Assurance Company just might have a solution for you ...

The company has a plan that expands traditional health requirement guidelines and is designed for individuals who have previously been or who would otherwise be turned down for long-term care insurance.  

This plan is now available in Pennsylvania, Iowa, Kentucky, Florida, Illinois, Missouri, Nebraska, North Dakota, Ohio, Pennsylvania, South Dakota, Texas, and Washington. 

I’m not endorsing the company or its insurance plans. You’ll have to check them out on your own. Click here to find an agent near you. But at least now you know there could be a viable option for paying nursing home costs.

Best wishes,


P.S. I’m now on Twitter. Follow me at for frequent updates, personal insights and observations on how to have a healthy retirement.
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