Healthcare Reform: Ending ObamaCare 3’s Top 3 Myths

In fact, some carriers now say they anticipate that up to 50% of small groups with 10 or fewer employees will leave their health insurance plan between 2014 and 2016. This will have a huge effect on everyone. They have group medical insurance, especially if they are in one of those small businesses that no longer have health insurance coverage.

Not only will the uninsured be affected by health reform, but everyone will be affected.

Health Care Reform Will Not Affect Medicare

Another myth is that health reform is not going to affect Medicare in any way. This is a little fun, because from the first moment, the most notable cuts were targeted specifically at the Medicare program. When you look at Medicare’s federal total, you can see that in 1970 Medicare represented 4% of the US federal budget. UU And by 2011, it had grown to 16 percent of the federal budget.

If we look at it over the past 10 years, from 2002 to 2012, Medicare is the fastest-growing part of the federal government’s major rights programs and has grown by almost 70% during that period.

Due to the size of Medicare and the speed with which it is growing, it is one of the top programs ObamaCare is trying to run so that it does not go bankrupt in the US. UU Medicare will be affected and, in fact, initial cuts in Medicare have already been set at about $ 716 billion.

Medicare Advantage plans –  Cuts and Effects

Out of the cut of $716 billion, the best Medicare Advantage plans program takes the most share, and you’ll see most of the impact. What this does is raise the premiums people pay for Medicare Advantage plans and reduce the benefits of those plans.

Increased Medicare Advantage Costs

Many people currently choose Medicare Advantage plans because they have zero awards. When given an option under Medicare plans, they see it as an easy option because it is a free program for them: “Of course, I get Medicare benefits, I pay nothing for it; why not.” You will now see Medicare premiums begin to rise and range from zero to $ 70, $ 80, $ 90, $ 100. We have seen this with some of the Blue Cross Medicare Advantage plans this year. It will get worse as we move forward.

For rates on Medicare advantage plans visit

Reduced Medicare Advantage Benefits

To minimize premium increases, what many Medicare Advantage plans will do is increase co-payments, increase deductibles, and change co-insurance rates.



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Keep your finances secure by consolidating them in a single financial account

Keep your finances secure by consolidating them in a single financial account

When we are still working, we tend to have multiple financial accounts which are disintegrated and spread over various locations. For example, when working we may have a number of offshore financial accounts. However, as we advance towards retirement, there is need for us to make sure that we consolidate our finances in one or two accounts. Visit here for more knowledge.   As much as having a number of financial savings accounts seems fashionable and classy, we need to make sure that we collect our finances in a few financial bank accounts. Taking such a step has its own benefits.

Benefits of keeping funds in a few financial accounts

The first benefit of keeping your finances in one or two financial accounts is so to make sure that you are in a good position to keep track of your incomes and withdrawals. You will agree with me that managing a number of accounts at old age might prove hectic sometimes. In fact, you may even forget to check and manage other smaller accounts at the expense of the larger accounts. When that happens, you will no longer be financial efficient and some of your financial accounts might be rendered inactive due to long term inactivity.

Secondly, holding too may financial accounts mean paying more in terms of service charge. Service charges are normally charged by banks in return for managing your accounts in terms of standing orders and in terms of making sure that payments for bills are made timely from your financial account. It is very important for you as senior who is about to retire or who has retired to make sure that you move your money in one or two financial accounts. This will reduce the service charges charged by banks when they manage you accounts.

Thirdly, holding finances in various accounts means you will need to run around authorizing payments from various financial accounts. For seniors, running around to access banks accounts in order to authorize payments and receipts of payments could be very tasking and this is something you may not want to go along with during your retirement period. For example, you have a number of financial accounts held in different banks. Every week, you are expected to pay your employees working at your private firm. Doing such visits on weekly visits could prove tiresome and in order to avoid this, just converge your funds in a single financial account and give a standing order for the bank to do such payments for you.

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Never seek financial advices from more than one financial advisor

Never seek financial advices from more than one financial advisor

For some of the seniors, retirement can come as a surprise and it is for that reason that they rust to find advices from financial supervisors. Considering that there is that tension associated with retiring, most of us seniors will run around trying to find the right piece of advice from financial advices. Financial advices are good; click here for more information .  yes, they are very good but it is very important to consider the need to seek services from only one advisor. Someone will ask why? But in this article, we will have a look at some of the reasons why seniors who are about to retire or have retired should seek services from only one trusted financial advisor.

Multiple financial advisers may confuse you further as far as your financial management is concerned

When you are about to retire, you will be entangled in confusion associated with what to do with your finances when your golden handshake money comes in. Such a confusion is normal but it is important to make sure that you can avoid adding more confusion on top of this confusion. In order to do this, just make sure that you are seeking services from one specific financial adviser. With one financial advisor, you will only follow that advice given by one advisor.

Many financial advisors could end up conflicting each other’s interest

In the event that you seek advices from two or more financial advisors, there are high chances of them conflicting in terms of interests. For example, one of them could advise on the need to invest your finances in forex trading while the other one would like you to invest in bonds and securities. When this happens, there will be conflict of interest and this could lead to further decision making. This might confuse you when you are trying to decide what to invest your finances in.

Multiple financial advisor means more expenses

As soon as you retire, every financial advisor would like to be your professional advisor. In the event that you seek services from more advisors, you will realize that you pay more for almost the similar financial advices. Why seek services from various financial advisers yet you can simply seek services of one advisor and pay for that single service. In order to avoid wasting too much money on various financial advisors, just make sure that you make up your mind on who you want to be your financial advisor.

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