Managing Drug Costs
Nov 27, 2020
Are prescription drug costs burdening your finances? Some people find it a challenge to manage the cost of prescription drugs. Americans pay an average of $1,200 per year for medicine. For those facing greater and more dangerous ailments, some drug costs are $10,000 per month or even lump sums in excess of $80,000 for certain drug therapies. Yes, health insurance and Medicare Part D can help you, but not everyone has access to Medicare, and not every insurance company has the same formulary. This means that your coverage may fall short—not something you want to hear when wrestling with a major diagnosis.1 (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Family Wealth, financial advisor, Health Care Needs, Health Care Savings, Medicare, Personal Finance, Spending Habits
Extended Care. How Much Do You Know?
Sep 14, 2020
How much does extended care cost, and how do you arrange it when it is needed? The average person might have difficulty answering those two questions, for the answers are not widely known. For clarification, here are some facts to dispel some myths. (more…)
Tags: Financial Help, Health Care Needs, Health Care Savings, Long-Term Care Planning, Medicare
The A B C D of Medicare
Aug 19, 2020
Whether your 65th birthday is on the horizon or decades away, understanding the different parts of Medicare is critical, as this government-sponsored program may play a role in your future health care decisions. (more…)
Tags: Financial Help, Health Care Needs, Medicare
ABLE Accounts for Loved Ones with Disabilities
Feb 5, 2020
Families with special needs children have a new tax-deferred savings option.
The ABLE account, also called a 529A savings account, is patterned after the popular 529 savings plan, created to help parents save for a child’s higher education. Like 529 plans, ABLE accounts are run by states rather than the federal government. These plans emerged after the passage of the Achieving a Better Life Experience (ABLE) Act in 2014.1 (more…)
Tags: Disability, Disability Insurance, Family Wealth, Health and Wellness, Health Care Needs, Health Care Savings, Long-Term Care Planning, Personal Finance, Tax Advantages, Wealth Building
Ways to Fund Special Needs Trusts
Jan 27, 2020
If you have a child with special needs, special needs trusts may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for. It may be used to address those financial challenges. Most importantly, a special needs trust may help provide for your disabled child in case you’re no longer able to care for them.
In planning for one, one of the most pressing questions is: when it comes to funding the trust, what are the options?
Tags: Estate Planning, Health Care Needs, Legacy
Facts About Medicare Open Enrollment
Nov 27, 2019
Medicare’s open enrollment period runs through December 7th. If you are enrolling in Medicare for the first time, you will discover that it is much more complex than an employer-sponsored group health plan.
When you are enrolled in Medicare, you pay multiple premiums for multiple types of coverage (Parts A and B as well as the Part D prescription drug plan), and unlike a group health plan, there are no caps on out-of-pocket costs and a risk that you might have to pay a hospital insurance deductible more than once per year. Original Medicare also does not cover some costs that many seniors would like to cover, such as dental and vision care expenses. (more…)
Tags: financial advisor charlotte nc, Health Care Needs, Medicare
More Insights
Jul 15, 2024
The S&P 500 strung together 37 record highs this year aboard an 18.1% rally, as of July 10. The advance has largely been powered by a handful of mega cap names tied to technology and/or artificial intelligence. In fact, six stocks — NVIDIA (NVDA), Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Meta (META), and Alphabet (GOOG/L) … Continue reading “Market Performance is a Tale of Haves & Have-Nots”
Jul 12, 2024
Investors are people, and people are often impatient. No one likes to wait in line or wait longer than they have to for something, especially today when so much is just a click or two away.
Jul 10, 2024
You can prepare for the transition years in advance. In doing so, you may be better equipped to manage anything unexpected that may come your way.
Jul 8, 2024
When developing your estate plan, you can do well by doing good. Leaving money to charity rewards you in many ways. It gives you a sense of personal satisfaction, and it can save you money in estate taxes.
Jul 5, 2024
How healthy a retirement do you think you will have? If you can stay active as a senior and curb or avoid certain habits, you could potentially reduce one type of retirement expense. Each year, Fidelity Investments presents an analysis of retiree health care costs. In 2023, Fidelity projected that the average 65-year-old couple would … Continue reading “Retirement Wellness”
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