Everyone has heard about this problem. People are living longer, medical care is getting more and more expensive, and a substantial amount of seniors will end up needing long-term care. Privately funding your own long-term care or leaving your spouse or family members to pay for long-term care can result in extreme financial burdens on […]
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Entries by DiamondAdmin
What is a Health Savings Account? Starting January of 2004, Medicare Prescription Drug, Improvement, and Modernization Act (MMA) allowed for a new form of savings account (Health Savings Account) for those who qualify with a high-deductible health insurance plan. Health Savings Account had an estimated enrollment of 17 million in the US in 2014.1 Health […]
Medicare, Medicare, Medicaid. We talk about it and hear about it, but it never seems like we’ve completely grasped what they are and what they do. So, let’s dive into some facts to understand what they are, what they do, and what the difference is between the two. Medicare is a health insurance that is […]
In 2050, more than a fifth of the population in the United States will be 65 years or older.1 This means more people will be limited physically and cognitively, which also means that more and more people will need assistance and likely end up in nursing homes. Nursing homes, which are basically 24-hour senior care […]
When it comes to retirement planning, what comes to your mind? It may require changing the way you think about retirement to best protect and preserve your wealth. You might be familiar with Social Security benefits, 401k, annuities, etc. You might even have taken a couple of seminars or is reading articles from various websites […]
Lifespan has exponentially increased with the advancement of science and technology. While some people can maintain their health for many years, with greater longevity comes the need for better and longer care. This means as people age, there is a greater demand for social programs designed to act as a safety net, such as Medicare […]