Takeaways
A recent federal court ruling reversed a rule that would have removed medical debt from credit reports, meaning this debt can continue to negatively impact credit scores.
Older adults are disproportionately affected by medical debt due to fixed incomes and health…
Takeaways
Grandparents should clarify whether financial assistance for their grandkids is a gift or a loan.
Consider 529 plans for education funding to ensure fairness and tax benefits.
Grandparents should also ensure their own financial security, especially regarding potential long-term care costs.
Grandparents often…
Takeaways
The federal estate tax exemption for 2026 will increase to $15 million per individual, with married couples exempt up to $30 million.
The annual gift tax exclusion will remain at $19,000 per individual for 2026, with a lifetime gift and estate…
Takeaways
Starting in 2026, employees aged 50 and older who earn over $145,000 must make 401(k) catch-up contributions on an after-tax (Roth) basis, losing the immediate pretax deduction.
Affected high earners should check if their employer offers a Roth 401(k) option and…
Takeaways
There’s a notable “inheritance expectation gap” between older adults’ plans to leave inheritances and younger adults’ expectations of receiving them, as revealed by a recent LegalZoom survey.
Older generations generally plan to leave more in terms of value and variety of…
Takeaways
The federal estate tax exemption for 2026 will increase to $15 million per individual, with married couples exempt up to $30 million.
The annual gift tax exclusion will remain at $19,000 per individual for 2026, with a lifetime gift and estate…
Takeaways
Medicare is implementing changes in 2026 to lower prescription drug costs, enhance consumer protections, and test new care management approaches.
New negotiated prices for some prescription drugs and an annual out-of-pocket cap of $2,100 for Part D covered medications will lead…
Takeaways
Understanding your long-term care insurance policy and its specific requirements (benefit triggers, covered services, elimination periods) is crucial to preventing claim denials.
Common reasons for claims denials include insufficient medical documentation, preexisting condition exclusions, failure to meet elimination period requirements, and…
The effects of the federal government shutting down may not always seem direct or immediate, but the risks and disruptions are real.
Takeaways
Many older adults rely on federal programs for income, health care, and support services, making them particularly vulnerable to disruptions caused by a government shutdown.
While core benefits such as Social Security and Medicare payments are largely protected, administrative functions, customer…
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