Friday, June 29, 2012

Long-term care insurance rates up 90%

Long-term care insurance rates up 90%--Will you have to drop it?

Some owners have seen their premiums go up from $1,844 to $3,504 in one year. If both of you have a policy, that means $7,000 a year for another 20 years on average--$140,000. Some insurers have even stopped selling new long-term care policies to individuals nationwide, including Prudential and MetLife. Many owners have had to drop coverage.

Supremes go against Tea Party – Can the Bush regime be over?

Young people may stay on parent’s policy. Insurers can’t revive ‘pre-existing conditions’ in order to deny children coverage if they are sick. Some carriers have dropped child-only policies because of that provision. Perhaps you should shop for separate insurance for your child or young adult. If they are healthy, they may be able to get better coverage cheaper than you can in your employers' plan. It's worth comparison shopping.

We keep the rebate checks! Now, the law requires health insurers to spend at least 80 percent of their premiums on medical care, and to refund to customers amounts over the remaining 20 percent that would be grabbed by profit and overhead.  

Also keep preventive care such as mammograms, colonoscopies, immunizations and more. Medicare participants will keep their free prostate, breast and colon cancer screenings. Coverage will be reduced by each state so the poor will be hit first. States without separate laws or money will cut clinics. Some break the law.

We keep lifetime unlimited coverage. This was the most dangerous part for those of us who have serious and expensive illnesses. Insurers must pay bills for major problems. The wealthy are not the only ones to get lifesaving operations.

We will have new cost choices during the fall open-enrollment season. We will NOT have to give up some things. There will be a federal floor—basic guaranteed coverage.

States will have a hard time taking away contraceptive coverage, new treatments, drugs, etc that cost more. Some may even eliminate women’s health clinics in order to outlaw abortion.

American’s view of health ruled by advertising?

Most Americans say they disapprove of ObamaCare but like the provisions. No wonder: Critics have outspent supporters 3-to-1 in publicity campaigns. They argue "Obamacare" will put half of the U.S. economy in the hands of government. This is all nonsense. Private insurers would have millions of new customers. ‘Mandate’ was a GOP idea. It was pushed by Newt: people taking responsibility instead of getting free care at hospitals. Romney won in MA on mandate platform. Now that Mr Obama agrees, GOP against it. A few wealthy Tea Party zealots have paid 3 to 1 to reverse the American Congress. Wow!

The lowest level of support for ObamaCare comes from people who identify themselves as strong supporters of the tea party. Even in that group, though, nearly 60 percent favor what is in the law. Benefits trump ideology.

Surprise: One old white man—a Bush Supreme—saved the health of millions. What power, what glory!

TX limit on malpractice payouts fails to lower costs—Tort reform?

A new study has found no evidence that health- care costs in Texas dipped after a 2003 constitutional amendment limited payouts in medical malpractice lawsuits...

Are you subject to health tax?

The health care reform will be financed in part by tax increases on the wealthy. One section of the measure imposes a 3.8% tax on investment income for individuals who earn more than $200,000 annually and for couples who make more than $250,000.

Another provision imposes a 0.9% tax increase on wages for people in the same earnings categories. The revenue generated by both taxes supports Medicare growth. If your family earns $180,000 annually and realizes $30,000 in capital gains, the 3.8% tax on investment income would be applied to the $10,000 that exceeds the $200,000 threshold. If a you do not earn investment income but have an annual salary of $201,000, the $1,000 over the threshold would be taxed at a 0.9% higher rate. Most people can avoid it by buying municipal bonds, growth stocks and pension plans. You could convert traditional individual retirement accounts into Roth IRAs, which don’t require a minimum distribution either. Create your own Tax-FREE financial system:

Regulators warn about variable annuities … again

The problem is that the investor “may be paying more for a less generous living benefit, and in the bargain he or she has agreed to limit the investment options, thereby restricting the potential for participation in equity market gains.” Compare the options before you buy:

SD & WI will not follow the law— E pluribus unum?

Dennis Daugaard says he's dismayed by the Supreme Court decision upholding the federal health care law, but the state will delay implementing any part of the law until after the November election. Gov Scott Walker refuses to implement the federal health care law, despite the Supreme Court's ruling to mostly uphold it.

SCAMS           “Only the little people pay taxes.” Leona Helmsley

Contempt of Congress?

Morgan Chase now says the loss on speculation could hit $8 Billion not $2 B Dimon reported to Congress.

Bankrupt city discards union contracts and debt—wave of future?

Stockton, Calif.'s bankruptcy filing will allow it to get out from under mountains of debt and costly union contracts, but is not indicative of the financial health of other municipal bond borrowers around the country.


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