[Boomer]

I subscribe to a few financial publications, but the one I like the best is Kiplinger's Retirement Report. It is published monthly. I do not think it is available on the newsstand. It is not a magazine -- more of a newsletter sort of thing. The articles concisely and clearly cover various topics that can have an effect on money in retirement.

I am linking you to an article from the Kiplinger website. It is written by the editor of the retirement report. I thought it was a good clarification of some of the things retirees need to know about health care reform. Kiplinger is a respected source for basic financial info.

The article answered some of my questions and so I thought I would pass it along. (And I really hope nobody comes into the thread and tries to turn it political. This is not political stuff. This is financial information.)

Here's the link......

http://www.kiplinger.com/features/ar...-retirees.html

Boomer

PS: I forgot to say that Florida is mentioned in the section on early retirees.

[graciegirl]

Boomer, I very quickly read through this while stuffing my face with dessert. It doesn't appear to be good news for us retirees.

Are you still glad that the bill passed?


I reread it slowly and I don't know now what it does mean. Perhaps you can paraphrase for this old cheerleader?

[Taj44]

Gracie, just curious. Why don't you see it as good news for us retirees? The way I read it, retirees who need to, can purchase insurance through state- based exchanges. Tax credits will be available. Starting in 2014, insurers must accept all applicants, including anyone with preexisting medical conditions. Until then, retirees with pre-existing conditions will be eligible to enroll in a national high-risk pool and receive subsidized premiums. It appears this is all paid for by a Medicare tax on wealthy taxpayers, and a tax on investment income for individuals with an adjusted gross income above $200,000. So what's not to like?

[TrudyM]

Good concise overview from a trusted source.

Most of the articles I have read seem to contradict each other and it has been most frustrating.
I am sure there are many in our situation. We will be covered under my husband’s retirement healthcare plan until he reaches 65. (So for a year or two depending on when we retire)
I am 4 years younger so, when he reaches 65 I will have to obtain other insurance or take the cobra offered by my husbands company $350 a month and rising. And that would not cover my RXs. The nexium alone would be $400 a month. Being a number cruncher I was considering banking the cash and just paying for my medical. I am healthy except for acid reflux and fibromyalgia (which doctors can't really fix anyway) so I only go once a year plus a mammogram. I probably won't forgo the insurance, but the cost just really blew me away. Now maybe I will have a cheaper alternative, who knows?

[cashman]

This article only scatches the surface on changes under this bill. They would require an article too long to post here.

Reading the bill will be completed and reported eventually, then and only then we will know the effects on seniors.

Also many amendments are being and will be made long before any benefits from the bill take effect.

[Allen]

Originally Posted by Taj44

It appears this is all paid for by a Medicare tax on wealthy taxpayers, and a tax on investment income for individuals with an adjusted gross income above $200,000.

Not possible... and the article does not make that assertion.

[bkcunningham1]

I'm like you Gracie. I can't really understand much of what the article says...for instance:
"Long-term care. In 2011, workers can enroll in a national insurance program to cover non-medical services in case of disability. After a five-year vesting period, the Community Living Assistance Services and Supports program will provide individuals who become disabled with a benefit of about $50 a day. The program will be financed with voluntary payroll deductions."

What are non-medical services for disability? Taxi rides, housekeepers, someone to bath you? I'm just asking. A benefit of $50 a day for a nonmedical disability? What does that mean? Voluntary payroll deductions? How much is the "voluntary" deduction for a five year vesting period?

[jaspal]

Do you belong to any stock groups. We are (I hope) moving down this winter. My husband is rally into stocks. Any suggestions?

[BobKat1]

There is an "Investment Talk" forum on TOTV. Your husband could probably find information on investment clubs/groups etc. I'm guessing there are some.

[springfield]

I agree it should not turn political. I appreciate info like this so I can form my own opinion.

[Boomer]

Here is another article on the changes brought on by health care reform. This one includes information on Medicare, but also other areas. It is from the website of Smart Money which is a magazine published by the Wall Street Journal.

http://www.smartmoney.com/personal-f...e-will-change/

Boomer

[zcaveman]

Originally Posted by bkcunningham1

I'm like you Gracie. I can't really understand much of what the article says...for instance:
"Long-term care. In 2011, workers can enroll in a national insurance program to cover non-medical services in case of disability. After a five-year vesting period, the Community Living Assistance Services and Supports program will provide individuals who become disabled with a benefit of about $50 a day. The program will be financed with voluntary payroll deductions."

What are non-medical services for disability? Taxi rides, housekeepers, someone to bath you? I'm just asking. A benefit of $50 a day for a nonmedical disability? What does that mean? Voluntary payroll deductions? How much is the "voluntary" deduction for a five year vesting period?

It says that workers can enroll in a national insurance program and it will be deducted from their payroll. For us already retired people who do not work, this is a moot point.

In fact quite a few of the points do not address the already retired people. And for us that have health insurance and a prescription plan through our retirement package, there are even less points to cover us.

This is why I was against the health plan. They screwed with 100% of the people to cover about 20% of the people if my memory serves me right.

[Taj44]

I think that sometimes we have to think beyond ourselves to what's best for the country. Douglas Elmendorf, director of the budget office, said that by 2019 the bill could reduce the number of people without health insurance by 37 million. Even though I am retired, and the health bill won't directly affect me, that makes me feel good.

[Boomer]

It really is not my intention, at all, to engage in political discussion on the topic of health care reform. All I am trying to do here is to pass along some information that is starting to show up in some of the well-known financial publications.

As we all know, health care reform is a complex issue. But the fact remains, it is here. And, at this point, I think a lot of people just want to try to understand how it will work for their own personal situation. What I am doing here is passing along some articles that are helping me to do a little navigating. The articles do not answer everything, but I do think they offer a good start.

Today, I bought a copy of the May issue of Money. I am linking you this time to the article from their website which is also the cover article from the magazine. If you are interested in reading what it has to say, please be sure not to miss the little section off to the left on the first page, titled "How Reform Affects You." If you click on the part that says, "View photos" it will take you through a series of different situations, including retirees.

So for those who are interested in what is being published now in basic, financial periodicals, here is another link, this time to this month's Money magazine.

http://money.cnn.com/2010/04/22/news...ymag/index.htm

Boomer

[bkcunningham1]

Boomer, thanks for the information. It is confusing and every bit of information does help. Like you said it is a starting point to gather more information. I'd like to add a couple of links from
Investor's Business Daily 's online edition. Another financial magazine to share some additional info:

http://www.investors.com/NewsAndAnal...lthcare+reform


http://www.investors.com/NewsAndAnal...lthcare+reform