What's New?
Today's Seniors has a wide range of information for people who have already retired, are preparing for retirement, or just thinking about it. Designed especially for today's active seniors, it is filled with advice, tips, and articles about retirement, personal finances, Medicare benefits, and more – with solutions to help seniors eliminate the hassles and enjoy life after retirement.
Here's some recent news and other new additions:
February 15, 2008
Low-income Seniors MUST file a tax return THIS YEAR.
According to the IRS, the ONLY way for low-income seniors to receive a tax rebate ($300 for individuals or $600 for couples) is to FILE a tax return. That includes Social Security recipients who don't normally need to file returns.
The only requirement is that you must have earned at least $3,000 in qualifying income during 2007. That includes Social Security benefits, tier 1 railroad retirement benefits, VA disability and death benefits, and earned income such as wages, salaries, tips and self-employment.
The IRS is preparing a new simplified version of Form 1040A along with special instructions for most low-income seniors to use. It will be available on the IRS website in the near future.
If you don't want to wait, you can use a paper version of 1040A from your local IRS office. The IRS has a sample form on their website to help you. Most of the sample has been overprinted in grey. Only the few white areas must be filled in. There are also 3 special instructions in red. To download the sample form, click on Simplified Form 1040A. (Note: This is a PDF form. To view it, you must have the free Adobe Reader program installed on your computer. For more information about it, click on Adobe Reader.)
The IRS will begin sending rebates to taxpayers in early May. Because we expect that the rebates will be mailed based on the date tax returns are filed, early filers should receive their rebates before people who put off filing until later.
Important Notes:
If you normally wouldn't need to file a tax return this year, you will NOT have to pay any taxes if the only reason you do file a tax return is to qualify for your tax rebate.
Your tax rebate will NOT be taxed when you file your 2008 federal tax return in 2009, regardless of whether you do file a return or are not required to do so at that time.
Your tax rebate will NOT affect your eligibility for any federal benefits, and it will NOT reduce any benefits you are already receiving.
You do NOT need to hire an account, a CPA, H&R Block or any other tax preparer to file the simplified 1040A. After all, paying their fee of $50 to $100 (perhaps more) will cost you a sizable chunk of your rebate. Instead, if you want help ...
AARP's Tax-Aide is the nation's largest, free, volunteer run tax counseling and preparation service. For more information, including their locator service, "Find a Tax-Aide Site Near You," visit AARP's Tax-Aide website. Or, call AARP's Tax-Aide toll-free at
1-888-227-7669 .The IRS's free Volunteer Income Tax Assistance Program has locations in many shopping malls, schools, libraries and other community and neighborhood centers. For more information, call toll-free at
1-800-829-1040 .
January 18, 2008
Extra Help to Pay for Medicare's Prescription Drug Program
BenefitsCheckUpRx.org can help you find out if you are eligible for extra help paying for your Medicare prescription drug costs. Generally speaking, your income must be less than $15,315 if single ($20,535 if married), and your financial resources must total less than $11,990 if single ($23,970 if married). People who qualify will have low or no deductibles, low or no premiums, no coverage gap (the infamous donut hole), and pay much less for their prescriptions.
Complete the online Medicare Rx extra help application to see if you might be eligible for this valuable benefit. This is a free service and is completely confidential. It does not require your name, address, phone number, Social Security number, or any other information that could be used to identify you. At the same time, you can also find out if you might be eligible for other programs that can help you with your health care and other costs. To begin, simply click on BenefitsCheckUpRx.org.
December 10, 2007
New rate map. Find the highest interest rates for CDs in your neighborhood ... in your state ... or anywhere in the country.
More information ... How to get highest CD rates with no risk
November 12, 2007
Should you get a flu shot?
A study conducted last year reported that flu shots seemed to provide very little protection for seniors. Needless to say, those results were more than a little surprising to everyone, especially after years of recommendations by the government that nearly all seniors should get the shots. (A few seniors have medical conditions or allergies that prevent them from getting flu shots.)
A newer, much more comprehensive study reported totally different ... and also surprising ... results this year. This study followed more than 70,000 people for 10 years, some of whom got flu shots and others who did not.
In some respects, the results were inconclusive because death certificates do not often report flu as the cause of death. Instead, they usually report another medical condition that may, or may not, have been caused by the flu. As a result, there is no way to be absolutely sure that flu shots prevent deaths from the flu.
BUT ... the study did show that people who got flu shots were:
25% less likely to be hospitalized from flu or pneumonia, and
half as likely to die of any cause during that flu season
than people who did not get a flu shot.
Bottom line: Unless you have a medical condition or allergy that prevents you from getting a flu shot, don't put it off until it's too late. Get your flu shot as soon as possible.
October 18, 2007
IRS Announces Maximum 401k Contribution Limits for 2008
This morning, the IRS announced that the OFFICIAL maximum 401k limit for 2008 would be $15,500, the same amount as 2007. Several websites jumped the gun and announced earlier this year that the 2008 amount would be $16,000. They should have listened to the saying, "Don't count your chickens before the eggs hatch."
The IRS also announced that the maximum catch-up limit for 2008 will be $5,000; once again, that's the same as 2007.
October 3, 2007
Important Healthcare Legislation "Dead on Arrival"
This morning, President Bush vetoed legislation that would have expanded the State Children's Health Insurance Program. Instead, his veto ended the current program as of September 30th. Now, six million children in the U.S. no longer have health insurance.
That's bad enough. But, of even more importance to seniors is what the proposed legislation did NOT include.
When originally passed by the House of Representatives and the Senate earlier this year, the House and Senate versions were different. The differences had to be worked out in conference committee before being sent to the President for his signature. (The House version included important Medicare provisions; the Senate version did not.)
Instead of standing up for what's right, the weak leadership in the House of Representatives caved in and removed the critically important Medicare provisions. As a result, in our opinion, the quality of healthcare for most Medicare patients will suffer dramatically. (If you like foreign-born doctors and Medicaid's second-rate healthcare, including long waits for appointments, you will love the new Medicare.)
Why is it so important? Under existing laws, Medicare's payments to doctors will be cut more than 40% over the next 9 years. The first 10% cut takes effect on January 1, 2008. Medicaid, where doctor payments have already been slashed to the bone, provides a good example of what will happen if those cuts take place. Very simply, doctors will drop out of Medicare. There's a good chance you won't be able to see your current doctors. The House version of the law would have stopped those cuts.
The House version of the new law would also have allowed the Secretary of Health and Human Services to expand coverage of Medicare's preventive services. To encourage use of these benefits, most co-payments and other charges would have been eliminated for those benefits. (Under current law, only Congress can decide what's covered and what isn't.)
As you might have guessed, the insurance companies who own Medicare HMOs didn't like the House version. They paid for TV commercials and press releases that told us how bad the House bill was because it would cut Medicare's benefits. "If it's anywhere near the ($50 billion) number that we're hearing it is, it means the end of the Medicare Advantage program," said Karen Ignagni, president and CEO of America's Health Insurance Plans. "That means Congress would be asked to vote on one of the largest Medicare cuts in history." That's a crock.
Why don't the insurance companies want the House version of the bill passed? It's very simple. The payments they get from the government will be cut. Right now, the Medicare Advantage program costs the government (read that as us, the taxpayers) from 12% to 19% more to treat people under these plans than what it would cost for the same people in traditional Medicare.
In other words, the good-old-boys in the insurance companies are making obscene profits at our expense. The House version would have stopped them from lining their pockets without changing any of the benefit options for most of us. The truth of the matter is that the House version would have preserved access to doctors for Medicare patients, limited older Americans' out of pocket costs, strengthened Medicare for lower-income people and extended health care to millions of uninsured kids. Instead, our lawmakers allowed the insurance companies to continue earning obscene profits while Medicare falls apart.
What can YOU do to help? Send an email, letter or fax to your U.S. Representative and Senators. Tell them you are sick and tired of our lawmakers passing legislation that protects the profits of big drug and insurance companies, but does nothing to protect children and seniors. Tell them you want a new law now that includes everything that was in H.R. 3162 (the original House version).
Perhaps now is the time to quote that famous line from the 1976 movie, Network: "I'm mad as hell, and I'm not gonna take this anymore!" Tell your elected representatives, "Either you find a way to help children and seniors, or we'll elect someone else who will." Remind them that we have another election in only 13 months, with primaries beginning in just 4 months.
To find out how to send an email, letter or fax to your elected officials, AARP has an excellent online locator tool. Simply click on Issues and Elections and follow the easy instructions.
Act today! Let's not have another fiasco like the Medicare Prescription Drug plan where Congress and President Bush felt that it was more important to protect drug company profits than it was to provide real help for millions of seniors.
September 27, 2007
Warning! – More new email scams
Con artists constantly dream up new schemes that will allow them to steal your identity. Here are 4 new ones:
Get Tax Refund on your VISA or MasterCard Now! This official looking email even includes the official IRS logo, but it's just a scam to get your credit card number. There are 2 reasons why this email is a fake. First, the email supposedly comes from irs.org. The ONLY email address the IRS ever uses is irs.gov.
Second, and even more important, the IRS NEVER issues a refund via a credit to your credit card. The ONLY way the IRS sends out refunds is by check, or by direct deposit to your bank account. But, it is important to remember that the IRS will never ask you for information about your bank account (or credit card) in an email. Instead, you must fill out an official form and mail it to them, or send it electronically via their secure website.
Receipt for Your Payment. This email claims to be a receipt for a payment you made to someone you don't know, often for a purchase made on eBay. The official looking email also says that "If you haven't authorized this charge, click the link below to dispute transaction and get a full refund." If you make a mistake and click on that link and follow the instructions, you will give an identity thief all of the personal information he needs to steal your identity and ruin your credit rating.
Unlock or Reactivate Your Account. We've seen several different versions of this scam. Basically, emails like this tell you that your XYZ account has been blocked or frozen to prevent fraud and/or to protect your personal information. To unblock, unfreeze or reactivate your account, the email goes on to say that you must "confirm your account access information" or "verify your account." If you click on the link in the email and follow the instructions, you will give an identity thief all of the information he or she needs to ruin your credit rating.
Welcome. This email wants you to believe that you have signed up for some sort of online service and gives you a "Confirmation Number, Your Login ID, and Your [temporary] Password ID." It then says something like, "Please Change your login and change your Login Information by clicking on this link and following the instructions." As we've said before, don't do it! DELETE the email without clicking on the link. Otherwise, you are giving an open invitation to an identity thief.
August 3, 2007
WARNING - Proposed changes to Medicare - Your help is needed
Important legislation is now being negotiated in Congress. Both the House of Representatives and the Senate have passed vital new healthcare legislation. But, because the House and Senate versions are different, the differences are now being worked out in conference committee. (The House version includes important Medicare provisions; the Senate version does not.)
The House version is known as the Children's Health and Medicare Protection Act (CHAMP). If its Medicare provisions are not included in the final bill sent to President Bush, or if President Bush vetoes it as he has promised to do, the quality of healthcare for most Medicare patients will suffer dramatically, in our opinion. (If you like foreign-born doctors and Medicaid's second-rate healthcare, including long waits for appointments, you'll love Medicare if the bill doesn't pass, or if it is vetoed.)
Why is it so important? Under existing laws, Medicare's payments to doctors will be cut more than 40% over the next 9 years. Medicaid, where doctor payments have already been slashed to the bone, provides a good example of what will happen if those cuts take place. Very simply, doctors will drop out of Medicare. There's a good chance you won't be able to see your current doctors. The House version of the new law would stop those cuts.
The House version of the new law would also allow the Secretary of Health and Human Services to expand coverage of Medicare's preventive services. To encourage use of these benefits, the new law would eliminate most co-payments and other charges for those benefits. (Under current law, only Congress can decide what's covered and what isn't.)
Unfortunately, TV commercials and press releases are telling us how bad the House bill is because it will cut Medicare's benefits. "If it's anywhere near the ($50 billion) number that we're hearing it is, it means the end of the Medicare Advantage program," said Karen Ignagni, president and CEO of America's Health Insurance Plans. "That means Congress would be asked to vote on one of the largest Medicare cuts in history." That's a bunch of baloney.
Why don't the insurance companies want the House version of the bill passed? It's very simple. The payments they get from the government will be cut. Right now, the Medicare Advantage program costs the government (read that as us, the taxpayers) from 12% to 19% more to treat people under these plans than what it would cost for the same people in traditional Medicare.
In other words, the good-old-boys in the insurance companies are making obscene profits at our expense. The House version of the proposed law would stop them from lining their pockets without changing any of the benefit options for most of us. The truth of the matter is that the House version would preserve access to doctors for Medicare patients, limit older Americans' out of pocket costs, strengthen Medicare for lower-income people and extend health care to millions of uninsured kids.
On August 1st, the House version was passed 225 to 204. That's not enough to override a presidential veto.
On August 2nd, the Senate version was passed 68 to 31. That is veto proof. BUT, and it's a huge BUT, the Senate was more interested in avoiding a veto than it was in helping seniors on Medicare. In other words, the Senate version will protect the insurance companies' obscene profits while letting Medicare fall apart.
What can YOU do to help? Congress has sent both bills to a conference committee to negotiate the final law that will be sent to President Bush. If you want to protect Medicare, send an email, letter or fax to your U.S. Representative and Senators. Tell them you want the final version to include everything that's now in H.R. 3162 (the House version), and tell them to vote YES when it comes up for the final vote in Congress.
To find out how to send an email, letter or fax to your elected officials, AARP has an excellent online locator tool. Simply click on Issues and Elections and follow the easy instructions.
Act today! Let's not have another fiasco like the Medicare Prescription Drug plan where Congress and President Bush felt that it was more important to protect drug company profits than it was to provide real help for millions of seniors.
July 4, 2007
WARNING - UPDATE: A new email scam
The "experimental" scam we described on April 9th (see below) has apparently proved to be very successful for scam artists, so much so that they've rolled out tons of new versions. We're now receiving more than 10 bogus online greeting cards every day from a wide variety of fake companies. And, to add even more confusion, a few even contain "hallmark.com" in the "From" line.
So, how can you tell the real ones from the fakes? There's no way to be 100% certain. But, most real electronic greeting card websites require the sender to include, the sender's email address, the sender's name, and the name of the person to get the email.
Look closely at the email address on the "From" line. The email address INSIDE the brackets <email@address.com>) should be the online greeting card company's email address. If the only place you see the company's "real" email address is BEFORE the brackets, with a different email address inside the brackets, the email address inside the brackets is fake, just like the ecard. This is an identity theft scam.
Bottom line, if you get an email greeting card from someone you don't know, DON'T click on any links in it.
May 3, 2007
8 Ways to Save Money on Gas
Regular gas is now hovering around $3.00 per gallon, sometimes even more. As a result, drivers are looking for ways to save money. We've updated our money-saving tips with some very effective recommendations that are very easy to follow. They could save you hundreds of dollars every year.
April 9, 2007
Warning! – A new email scam
Online greeting cards are very popular. Some websites charge a modest annual membership fee. Others offer free electronic cards and make money by selling advertising on their websites.
When someone sends an online greeting card, the recipient receives an email containing a link that must be clicked to download the card. Unfortunately, scam artists are using look-alike emails with bogus links to steal the recipient's personal information. In other words, they are a set up for identity theft.
So far, we have received two of these emails, both supposedly from the same website, 2000Greetings.com, a real electronic greeting card website. These bogus emails look even better than the real emails sent by the real website. (The bogus email even includes the real website's logo, but the real email does not.)
So, how can you tell if it's a real ecard or a bogus one? There's no way to be 100% certain. But, most real electronic greeting card websites require the sender to include, in addition to the sender's email address, the sender's name, and the name of the person to get the email.
An email from a real website will include the real sender's email address, and a brief personalized greeting using your name in the first line of the email. On the other hand, the bogus email will usually show the website's email address as the sender, and will have no personalized greeting. For example, the bogus emails from 2000Greetings.com included the generic: "Hi, an old friend has sent you a greeting card!"
March 2, 2007
Deceased – Stop sending mail; stop telemarketing calls
When someone passes away, the surviving spouse's grief is often made more hurtful every time he or she receives mail or a telemarketing call for their deceased loved one. The Direct Marketing Association (DMA) has finally recognized the problem and created a national Deceased Do Not Contact list. After a deceased person has been registered for that list, all DMA members are required to permanently eliminate them from all of their mailing, email, and telemarketing lists.
February 1, 2007
Improve Your Quality of Life –
products that eliminate some of life's frustrations
Together with our companion website, we have recently added several products that can improve the quality of life for active seniors like you. Among the many products that eliminate some of life's frustrations, you'll find a TV volume regulator, TV Ears (a personal assisted hearing device), the Samsung Jitterbug cell phone (designed for seniors who want a hassle-free phone), and more.
January 1, 2007
Medicare's Part D Prescription Drug Plans --
A new year starts today!
Beginning today, Medicare's Part D deductible and total out-of-pocket expenses are reset to $0. If you fell into the doughnut hole last year, the good news is that Medicare will start paying approximately 75% of this year's prescription expenses after your deductible has been met.
December 30, 2006
Financial Planning Advice: 401(k) Rollover Information Your Financial Planner Might Not Want to Tell You
The recent Pension Protection Act offers good news for the non-spouse beneficiary of a 401(k). It is now possible to arrange a trustee-to-trustee transfer of an inherited 401(k) to an inherited IRA. This is great news for the consumer, and represents a significant change from the old law.
The new law basically offers inherited 401(k)s the same tax treatment as inherited IRAs. The 401(k) owner should now ...
November 2, 2006
Medicare's Open Enrollment Period begins in 2 weeks:
This year's open enrollment period begins November 15th and ends December 31, 2006. The open enrollment period applies to everyone now on Medicare as well as to people age 65 and older who did not enroll during previous open enrollment periods.
If you are unhappy with your current Medicare plan, whether it is the original Medicare plan, one of the newer Medicare HMOs and other Medicare+Choice plans, or the new Plan D prescription drug plan, this is the only time of the year when you can make a change. We recommend that you begin to evaluate your various choices today before it's too late; don't let December 31st sneak up on you ... the busy holiday season is almost here.
Visit our page Medicare's Part D Prescription Drug Plans for more information.
October 18, 2006
IRS announces 401k limits for 2007:
The maximum contribution limit for a 401k plan has been increased from $15,000 in 2006 to $15,500 in 2007.
If you are age 50 or older, you may also be eligible to make "catch-up 401k contributions" in addition to your regular 401k limits — IF your employer allows them. (Unfortunately, your employer is not required to do so.) For 2007, the 401k catch-up contribution limit is the same as 2006, that is, $5,000.
Visit our page 401k Maximum Contribution Limits for more information.
October 13, 2006
Flu Clinic Locator for this year's vaccination shots:
The flu virus changes every year. To be sure that you have the best possible protection, you must get a flu shot every year.
Finding out where you can get your flu shot is easy with the American Lung Association's Flu Clinic Locator. Simply click on Flu Clinic Locator and enter your zip code into the Flu Clinic Locator box on the right hand side of the screen. You will get the date, times, address, and phone number of the clinics offering flu shots near you, as well as a map showing where the clinic is located.
The American Lung Association updates the Locator daily, so you will always get the most up-to-date information.
October 6, 2006
Medicare's Prescription Drug Plans - 2007 Amounts:
If your Medicare Prescription Drug Plan is like most plans, it has what has been called a "doughnut hole" right in the middle of its benefits. That is, after the total cost of your prescription drugs reaches $2,400 during 2007, Medicare will pay nothing more during 2007 until you have spent a total of $3,850 out-of-pocket. The $3,850 includes your annual deductible and your coinsurance payments.
Important Note: The $2,400 amount is the TOTAL cost of your prescription drugs, including what Medicare pays and your out-of-pocket expenses. Assuming that you have a $265 deductible in 2007 and pay 25% out-of-pocket, Medicare will temporarily stop paying benefits after you've paid $787.50 out-of-pocket and Medicare has paid $1,612.50. Then you must pay the full cost of your prescription drugs until you've paid another $3,062.50 out-of-pocket, for a grand total of $3,850 out-of-pocket.
August 18, 2006
Medicare's Prescription Drug "Doughnut Hole" (2006 amounts):
If your Medicare Prescription Drug Plan is like most plans, it has what has been called a "doughnut hole" right in the middle of its benefits. That is, after the total cost of your prescription drugs reaches $2,250 during any one year, Medicare pays nothing more during that year until you have spent a total of $3,600 out-of-pocket. The $3,600 includes your annual deductible and your coinsurance payments.
Important Note #1: The $2,250 amount is the TOTAL cost of your prescription drugs, including what Medicare pays and your out-of-pocket expenses. Assuming that you have a $250 deductible and pay 25% out-of-pocket, Medicare will temporarily stop paying benefits after you've paid $750 out-of-pocket and Medicare has paid $1,500. Then you must pay the full cost of your prescription drugs until you've paid another $2,850 out-of-pocket, for a grand total of $3,600 out-of-pocket.
Important Note #2: These amounts apply only to calendar year 2006. They will be increased for inflation on January 1st each year.
July 26, 2006
U.S. seizes more drugs that seniors order from Canada
On November 17, 2005, with no warning whatsoever, U.S. Customs officials dramatically stepped up their confiscation of prescription drugs ordered by U.S. citizens from Canadian pharmacies. So far, nearly 40,000 packages will never be delivered, many to seniors with chronic, life-threatening conditions who can't miss a day of their medications.
It doesn't matter whether this was done to force seniors to enroll in Medicare's new prescription drug plan (the enrollment period started just 2 days before the seizures began). The point is that Canadian pharmacies are no longer a reliable lifeline for affordable medicines for seniors (and other lower-income people), at least for the time being.
This situation angered members of Congress so much that both the House and Senate passed legislation to stop the seizures. But, their versions are slightly different and have to be ironed out in a conference committee. While this is going on, drug industry lobbyists are going all out to defeat it.
What can you do? Send an email to your U.S. Representative or Senator. To find their email address (or their mailing address), click on Write to Your Representative or go to the upper right hand corner of the U.S. Senate's home page.
July 6, 2006
Scams – An Update
Scam emails look very real, and crooks are getting better at it every day. It is very difficult to identify fake emails, even if the email includes a link that begins with "https://." The "s" after "http" is supposed to mean that it connects to a site that's safe and secure – one that protects your private information. But, we've recently seen scam links that begin with "https://" and then redirect you to a crook's website without your knowing it.
June 12, 2006
Planning Ahead for Retirement – Health Care
Medicare does not cover many types of health care that your current health insurance plan may now include. For example, Medicare and Medicare Supplement Insurance plans do NOT pay for dental care (cleanings, fillings, extractions, crowns and dentures), vision care (routine vision tests, eyeglasses and contact lenses), hearing aids and tests, routine foot care, orthopedic shoes, annual physicals after your first one, and up to $3,600 of your prescription drug expenses even if you have Medicare's new prescription drug benefit (Plan D).
Some Medicare+Choice HMO-type plans will cover some of these. However, Medicare+Choice plans can change what they do and don't cover at the beginning of each year. So, even though some of these items may be covered during your first year in a plan, they may not be covered in future years.
Very few private insurance plans are available ...
Continue reading about Planning for Retirement - Health Care
May 15, 2006
Good News! (for people born after February 1, 1941)
May 15th is NOT your deadline for enrolling in Medicare's new prescription drug plan in order to avoid paying penalties for the rest of your life – IF you were born after February 1, 1941.
Instead, you can apply for the new Part D prescription drug benefit at any time beginning 3 months before the month of your 65th birthday, or you can delay your decision for up to 3 months after the month of your 65th birthday.
Thus, if you were born on any day in February 1941, your deadline for enrolling is May 31, 2006. If you were born later in 1941, that deadline moves to a later date. For example, if your 65th birthday is August 20th, you can apply for Part D at any time from May 1st to November 30th without any penalty.
April 14, 2006
Medicare drug plan deadline extended (for some people)
For most seniors already covered by Medicare, May 15th is still the deadline to enroll in the new prescription drug plan and avoid paying penalties for the rest of their lives.
However, for low-income people who qualify for extra federal help for their medication expenses, the government has extended the penalty-free enrollment period to July 31st. Generally, to qualify for extra help,
your annual income must be below $14,700 ($19,800 if you are married and living with your spouse), AND
your resources must be below $11,500 for an individual ($23,000 if you are married and living with your spouse).
Our advice – Don't take a chance. Enroll before May 15th. Your application for extra federal help could be rejected.
Continue reading about getting help with Medicare prescription drug plan costs
March 14, 2006
Major credit agencies adopt uniform score system
Today, the nation's 3 consumer credit reporting companies – Equifax, Experian, and TransUnion – jointly announced the introduction of VantageScore, a new credit score designed to simplify and enhance the credit process. Now, a single methodology will be used by all three national credit reporting companies.
VantageScore will be made available first to lenders and other businesses beginning today. Depending on its acceptance in the world of commerce, VantageScore may eventually be made available to consumers. Until then, consumers will have to rely on the older FICO scoring method. Free FICOŽ Credit Score Estimator.
Continue reading about VantageScore
If you are asking yourself, "At my age, why should I worry about my credit score?" – take a look at our earlier article "Credit Reports and Credit Scores."
March 1, 2006
Medicaid – New law stops "spend-downs" to qualify for benefits
As of February 8, 2006, "Medicaid planning" is no longer possible for middle-class and wealthier people.
Before then, people protected their heirs by transferring ownership of their assets while they were still relatively healthy. Then, if they lived another 3 to 5 years (the maximum waiting period) before their health declined and they had to move into a nursing home, it was easy to qualify for Medicaid. And, because they no longer owned any substantial assets, Medicaid paid their nursing home bills.
Under the new law ...
February 14, 2006
Retirement – Glossary of Terms
Each of the many aspects of retirement, whether it's financial, insurance, legal, estate planning, elder care, etc., uses its own specialized language that includes terms and phrases that are not familiar to many people – perhaps even confusing. To help you understand it, we have added a comprehensive Glossary of Terms with easy-to-understand explanations in words you can understand.
January 23, 2006
Is your money missing?
Find unclaimed money and other property
Unclaimed money and other property now totals hundreds of Billions of dollars. This includes: money in dormant savings and checking accounts, unclaimed interest, money and other contents of safe deposit boxes, unclaimed tax refunds, unclaimed life insurance benefits, utility deposits, uncashed checks, stocks, bonds, dividends, unclaimed insurance refunds or claim payments, oil royalties, wages, pensions, IRAs, 401k and 403b retirement plans, etc., etc., etc. Here's where to start looking for unclaimed money.
January 4, 2006
How to reach a human being
when you call customer-service hotlines
Most companies use annoying computers to answer their customer-service phones. While that can sometimes be useful (checking a flight status, etc.), consumers should be able to decide when they want to speak with a human, simply by pressing 0. Unfortunately, that usually doesn't happen.
December 14, 2005
10 Insurance Policies You Don't Need
The 10 types of unnecessary insurance described in this article have one thing in common – They are hugely profitable to insurance companies because less is paid out than with other forms of insurance. Bottom line? Don't let your fears sell you insurance you don't need.
November 28, 2005
Replace lost, stolen or damaged documents
Whether you've simply misplaced or damaged an important document, had it stolen, or survived a hurricane, flood, tornado, or fire, here's how to replace your important papers.
Continue reading "Replace lost, stolen or damaged documents"
November 9, 2005
Medicare's new Prescription Drug Benefit
On January 1, 2006, Medicare's new prescription drugs benefit (Part D) will begin. Most seniors will be eligible to participate and most drugs will be covered. The first open enrollment period runs from November 15, 2005 to May 15, 2006. Everyone with Medicare is eligible, regardless of income and resources, health status, or current prescription expenses.
October 14, 2005
Patient Privacy – A frustrating 2-edged sword
Patient privacy has become very important in our society, but its rules can be very frustrating. For example, if your loved one has a medical emergency, you may not be able to get any information about him or her, even if your loved one is your spouse. When you ask, "Why not?," you'll hear that you can't be told because of HIPAA. That's the federal law that governs patient privacy. In our opinion, HIPAA's patient protection rules are a good example of the best of intentions gone bad.
Is there a solution? YES! In fact, there are two.
September 23, 2005
Elder Care 101 – First Steps
Caregiving for an aging parent, spouse, domestic partner or close friend presents tough challenges – especially when a crisis hits and responsibility descends upon you suddenly. Maybe your mother has fallen – perhaps due to instability caused by prescription drug side effects – and is hospitalized with a broken hip. Or your spouse has wandered off and gotten lost several times. Or a long-time friend and mentor has lost a lot of weight and rarely seems to leave home.
Caregiving descends upon us in all sorts of ways – through sudden crises, or a series of small but unsettling mishaps and warning signs. You may be the only person to step in, or you may simply be the linchpin of a large network of family members and friends willing to help. Whatever the situation, you're not sure of the next step. Or even the first step.
September 1, 2005
You are now eligible for free credit reports
Starting September 1st, you can get a free copy of your credit report from each of the three nationwide consumer reporting companies – Equifax, Experian, and TransUnion – once every 12 months.
But, you may be asking yourself, "At my age, why should I worry about credit reports and my credit score?"
To see more of what's available right now, go to our Table of Contents.
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