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AUTHORS: Jennifer Climo Jean Fullerton Jonathan Harrington Nick Prigitano Jenna-Rose Finnie Kyle Labelle

Why the big spike in Medicare premiums?

February 25, 2022 Insurance Jean Fullerton

Medicare is the primary health insurance for most people over age 65. Medicare Part A, which covers hospitals, is typically free. Medicare Part B charges a monthly fee that covers doctor visits and outpatient services. Most people pay for their Part B premium from their Social Security check. Each year, Congress and the Centers for Medicare & Medicaid Services (CMS) decide how much to charge for Part B. This year, the increase ($21.60/month) is the largest dollar increase in Medicare history and the largest percentage increase (15%) since 2016.

Should You Increase Your Home Insurance? — Why the Recent Housing Market Warrants a Review

January 28, 2022 Insurance Nick Prigitano

The largest asset most Americans own is their home. That’s why it’s crucial to have adequate insurance to cover the physical dwelling. Home insurance, though, can be somewhat complex because not only does homeowners insurance cover the home itself, but it also usually covers other aspects such as the property inside the home and personal liability, and may even tag on some umbrella coverage as well. To complicate things further, homeowners and homebuyers alike have seen home prices skyrocket in recent years. Residing in New England, we can personally attest to the rapid increase of home prices in the New Hampshire and Massachusetts area. But just because home prices are increasing, does that mean you need to up your insurance coverage as well

Time to Reflect on the Upcoming Year - Our Top 5 Financial New Year’s Resolutions

December 31, 2021 Retirement Insurance Estate Planning Cash Management Nick Prigitano

Setting New Year’s resolutions is a common practice for millions of Americans. Although we all know the stats about how frequently we fail to live up to them, it doesn’t mean we shouldn’t try. If we don’t set goals, then there is a 100% chance we won’t meet them. With that in mind, we have some typical, and not so typical, financial New Year’s resolutions to consider adding to your list for 2022.

When Should I File For Medicare?

December 22, 2021 Retirement Insurance

Some of the scariest things about enrolling in Medicare is that it's incredibly complex; you may only have one chance to make decisions for life; and it can be extremely costly if you make a mistake. It's no surprise many retirees are left wondering when to file for Medicare. To make things more complex, if you're still working or are in an unmarried relationship there are more special rules that may apply to you.

What to Know About the Healthcare Exchange Open Enrollment and Tax Credit for 2021

November 5, 2021 Insurance Nick Prigitano

Health insurance open enrollment comes around the same time every year. Last week, we wrote a post about open enrollment for those people who are already on or who are going to soon be on Medicare. This week we’re going to review open enrollment for the health insurance exchanges. Having adequate health insurance is a foundational part of any complete financial plan. Many people are offered health insurance coverage through their employer or, if they are old enough, from Medicare. It gets a little more complicated for self-employed people or for those who are currently out of a job.

Medicare and Me? Making the Most of Open Enrollment

October 29, 2021 Insurance Jonathan Harrington

The annual open enrollment period for Medicare started on October 15 and goes until December 7. It is the one time every year that Medicare beneficiaries have an opportunity to modify their Medicare coverage. During the open enrollment period, you can switch or add a Medicare Advantage plan, switch or add a Part D prescription drug plan and, in some states, like Massachusetts, switch or add a Medigap plan. Any changes that you make take effect on January 1 of next year. We’ll try and cover the basics to give you a general understanding of Medicare and your options during the open enrollment period.

End of the Line for Surprise Medical Bills and Balance Billing

July 23, 2021 Insurance

On July 1st, 2021 the U.S. Department of Health & Human Services announced the first set of rules implementing the No Surprises Act which was signed into law in December of 2020. These rules are designed to stop so called surprise medical bills and balance billing which affect millions of Americans every year.

Financial Planning for your 50s - What to Consider

February 19, 2021 Fiduciary Retirement Working Professionals Families Insurance Estate Planning

The financial planning considerations when entering your 50s can be quite extensive. Between retirement rapidly approaching, life changes, and estate planning issues, there's a lot on the to-do list! For many, this is their last full decade before retirement. It is one of the last chances to save, plan, and make sure you are on track to meeting your long-term financial planning goals. While there are many topics to review, some of the big ones are: - Overall retirement planning considerations - Big life changes - Reviewing your insurance - Updating and reviewing your estate plan

Medicare Costs for the LGBTQ+ Community

February 17, 2021 Retirement Insurance LGBTQ+

Health care expenses can be a significant cost in retirement. This is no different for the LGBTQ+ community. What is different for members of the LGBTQ+ community is that they may be more likely to be unmarried, and therefore subject to higher Medicare premiums.

Can You Contribute to an HSA? - The Triple Threat of Retirement Saving Accounts

February 11, 2021 Taxes Working Professionals Families Insurance

In show-business, few can claim that they are the much sought after triple threat. While many can sing and dance, or act and sing, few stars can sing, act, and dance exceptionally well. When it comes to tax-preferential savings there is one account that can sing, dance, and act above the rest. This ever elusive triple threat of the retirement savings world is none other than the Health Savings Account (HSA).

LGBTQ+ Individuals More Likely to be Impacted Financially by Coronavirus

May 22, 2020 Working Professionals Insurance LGBTQ+

By this point it's clear that the coronavirus has impacted millions of people around the globe. Nearly everyone has been affected by the virus in some way. While many of us are struggling with the realities of the last few months, some groups have fared worse than others. Specifically, members of the LGBTQ community are more apt to be negatively financially impacted by the coronavirus than other groups.

The Unsung Hero of Insurance - The Umbrella Policy

February 18, 2019 Retirement Working Professionals Families Insurance

As financial advisors we understand that the topic of insurance is not the most exciting or glamorous. When we discuss insurance with our clients, we do everything in our power to keep their eyes from glazing over in boredom. Today we will discuss one the most plain vanilla policies, but arguably one of the most important, the umbrella policy. Stay with us because getting umbrella coverage could be one the best financial decisions you ever make.