Retirement Planning
Alerta a turistas: los planes de salud para viajeros podrían no cubrir pandemias

Era evidente que la fiebre, las náuseas y la falta de apetito que Vlastimil Gajdoš sintió el día de su boda no eran por miedo a casarse.
Gajdoš, de 65 años, se enfermó en Honolulu, Hawaii, en marzo, después de llegar con su novia desde la República Checa. Gajdoš y Sylva Di Sandro, de 58 años, tenían la intención de casarse y pasar la luna de miel en la isla.
Llegaron a casarse, pero, a la misma vez, comenzaron una inesperada batalla contra el nuevo coronavirus. El novio estuvo internado por dos semanas, parte de los días en terapia intensiva, conectado a un ventilador. Como muchos turistas conscientes de que la atención médica en los Estados Unidos es más cara que en casa, Gajdoš compró un plan de salud para viajeros que cubría hasta $300,000 en gastos médicos.
Pero después que a Gajdoš le diagnosticaron COVID-19 y su esposa llamó para verificar la cobertura, los recién casados descubrieron una trampa: la aseguradora dijo que no pagaría por adelantado. Y que consideraría reembolsar el gasto sólo después que Gajdoš fuera dado de alta del hospital.
“Tenía mucho miedo de que los médicos no lo ayudaran si no estaban seguros de la cobertura”, dijo Di Sandro, quien tuvo un caso leve de COVID y no tuvo que ser hospitalizada.
La pandemia de coronavirus ha causado estragos en la industria del turismo, incluidas las compañías de seguros.
Incluso más allá de la crisis actual, los viajeros deben prestar especial atención a la letra chica de estas coberturas.
Muchos planes ofrecen cobertura de atención médica en caso que la persona necesite atención durante un viaje. Pero éstos varían enormemente según la compañía, ya que contienen límites en los pagos, copagos y las circunstancias que rodean a la necesidad médica, por ejemplo, si cubren o no atención en caso de evacuación.
La mayoría de los planes de salud para viajeros excluyen eventos conocidos o “previstos”, dijo Kasara Barto, vocera de Squaremouth, un servicio en línea que permite a los viajeros comparar opciones de seguros.
En algunas situaciones, un viajero puede anticipar el riesgo dependiendo de su destino. Por ejemplo, una póliza regular podría no cubrir un accidente de alpinismo mientras se está escalando el monte Everest.
También es común la exclusión pandémica, en la cual la aseguradora no pagará los gastos médicos de un viajero si están relacionados con un brote como el de coronavirus.
El lenguaje sobre las exclusiones puede ser vago, lo que podría dificultar que los viajeros descifren si su plan pagará la atención relacionada con COVID-19, dijeron expertos de la industria. En principio, algunos planes no mencionan específicamente una pandemia como una circunstancia que esté cubierta o excluida, o el tiempo de cobertura de una pandemia.
La Organización Mundial de la Salud (OMS) declaró la propagación del coronavirus como un brote mundial el 11 de marzo. Los viajeros que compraron pasajes después de esa fecha deben confirmar que tienen cobertura médica para COVID-19, dijo Christopher Mosley, abogado especializado en seguros en Sherman & Howard.
Sin embargo, esos tiempos podrían ser distintos en ciertos planes. Algunas aseguradoras consideran que COVID-19 era un riesgo en ciertas áreas ya en enero, agregó Mosley.
“No hay una cobertura única”, dijo Mark Friedlander, director de comunicaciones corporativas del Insurance Information Institute, una organización de investigación respaldada por la industria de seguros.
Tal vez el riesgo sea más alto para los extranjeros que visitan los Estados Unidos, que tiene los costos de atención médica más altos del mundo desarrollado. Muchos de los sistemas nacionales de salud en los países europeos tratarán a los extranjeros sin costo o por tarifas mucho más bajas.
En los Estados Unidos, las embajadas están interviniendo para ayudar a sus ciudadanos a descifrar estos planes médicos. En un aviso, la embajada de Eslovenia en Washington, DC, aconseja específicamente a sus ciudadanos que llegan al país que verifiquen si sus seguros cubren pandemias.
Funcionarios de la embajada de España también dijeron que el seguro es un tema que ha surgido en conversaciones.
La República Checa intervino en el caso de Gajdoš y en el de otro ciudadano checo que también tuvo problemas con su plan de salud, dijo Zdeněk Beránek, director de la misión de la embajada checa en Washington, DC.
“Este no es el país más barato del mundo en lo que respecta a la atención de salud”, dijo Beránek, “así que es mejor tener cuidado”.
Dado el caos de la pandemia, algunas aseguradoras están optando por dejar de vender pólizas de salud para viajeros por completo, incluida LV, una compañía con sede en el Reino Unido.
Pero otros, como Allianz, están ampliando los beneficios para incluir la atención de COVID-19. La compañía informó que aceptará algunas cancelaciones de viaje y reclamos médicos relacionados con el virus que generalmente no están cubiertos en sus planes, según un comunicado de prensa.
“Este es un territorio desconocido para todas las compañías de seguros en este mercado”, dijo Don Van Scyoc, vicepresidente de ventas individuales de la aseguradora de viajes GeoBlue. La compañía vende planes para estadounidenses que viajan al extranjero y para extranjeros que están lejos de sus países de origen por largos períodos. Sus planes cubren la atención de COVID-19, dijo.
Gajdoš y Di Sandro pidieron ayuda a la embajada y al empleador de Gajdoš después que su aseguradora de viajes le negara la cobertura. El empleador se comprometió a ayudarlo si su plan no cubría su estadía en el hospital, dijo, pero la intervención del gobierno funcionó.
La aseguradora finalmente acordó cubrir los gastos de Gajdoš.
El matrimonio no reveló la factura final, pero un tratamiento típico de 10 días en una unidad de terapia intensiva puede costar varios cientos de miles de dólares.
Gajdoš recibió el alta del Queen’s Medical Center el 8 de abril, agradecido por la atención. Dijo que las acciones de su aseguradora lo tomaron por sorpresa. Intencionalmente había comprado un plan más caro con la expectativa de que recibiría ayuda, no que se negarían a cubrir su atención.
“No tienes la energía para pelear”, dijo Gajdoš. “Estás enfocado en luchar por tu vida”.
—————–
By: Carmen Heredia Rodriguez, Kaiser Health News
Title: Alerta a turistas: los planes de salud para viajeros podrían no cubrir pandemias
Sourced From: khn.org/news/alerta-a-turistas-los-planes-de-salud-para-viajeros-podrian-no-cubrir-pandemias/
Published Date: Mon, 18 May 2020 16:47:42 +0000
Retirement Planning
Ends-of-the-World Every Year Since 1970

There always has been and always will be a reason not to invest or not to stay invested. This is all the mainstream media reports to us. Below you will find a list of some of the worst global events each year since 1970. I have some commentary to follow.
1970: War: US troops invade Cambodia.
1971: Civil Unrest: Anti-war militants march on Washington.
1972: Political: Start of Watergate Scandal.
1973: Economic: OPEC raises oil prices in response to US involvement abroad.
1974: Political: Nixon resigns as President of the United States.
1975: Political: Multiple assassination attempts on President Ford.
1976: World: Ebola virus.
1977: Political: Government shutdowns.
1978: Market: U.S. Dollar plunges to record low against many European currencies.
1979: World: Iranian militants seize the U.S. embassy in Teheran and hold hostages.
1980: Economic: Inflation spiked to a high of 14.76%.
1981: Political: President Reagan assassination attempt.
1982: Economic: Recession continues in the U.S. with nationwide unemployment of 10.8%.
1983: Economic: Unemployment in the U.S. reaches 12 million.
1984: Economic: 70 U.S. banks fail during the year.
1985: World: Multiple airplane hijackings around the world.
1986: World: Chernobyl Nuclear Power Station explodes.
1987: Market: DOW drops by 22.6% on October 22.
1988: Environment: Awareness of global warming and the greenhouse effect grows.
1989: Environment: Exxon Valdez dumps 11 million gallons of crude oil into Prince William Sound.
1990: World: Persian Gulf War starts.
1991: World: Mass shooting in Killeen, TX.
1992: Human Rights: Los Angeles riots following the death of Rodney King.
1993: Terrorism: World Trade Center bombing.
1994: World: Mass genocide in Rwanda.
1995: Terrorism: Oklahoma City bombing.
1996: Terrorism: Olympic Park bombing.
1997: World: Bird flu.
1998: World: Multiple U.S. embassy bombings.
1999: World: Columbine shooting.
2000: Economic: Start of the Dotcom Market Crash.
2001: Terrorism: Terrorist Attacks in NYC, DC & PA.
2002: Economic: Nasdaq bottomed after a 76.81% drop.
2003: World: The U.S. invades Iraq.
2004: World: The U.S. launches an attack on Falluja.
2005: World: Hurricane Katrina
2006: World: Bird flu.
2007: Economic: Start of the Great Recession.
2008: Economic: Great Recession continues.
2009: Economic: S&P bottomed after a 56.8% drop.
2010: Market: Flash crash.
2011: Market: Occupy Wall Street and S&P downgrades U.S. Debt.
2012: Political: Fiscal cliff.
2013: Political: Taper tantrum.
2014: World: Ebola virus.
2015: World: Multiple mass shootings.
2016: Political: Divided U.S. Presidential election.
2017: World: North Korea testing nuclear weapons.
2018: Economic: U.S. & China trade war.
2019: Economic: Student loan debt reaches an all-time high of $1.4 trillion.
2020: World: COVID-19.
While many of these events were undoubtedly terrible (and there are certainly others not named here that were worse), most of these were broadcast as end-of-the-world events for the stock market. Despite that attention, it is worth noting that these were, for the most part, one-time events. In other words, most faded into the newspapers of history. We moved on.
Obviously, some caused monumental shifts in the way the world works. Just think about how much air travel continues to be impacted by the events of 9/11. But, outside of the resulting inconveniences (if we want to call safety protocols inconveniences) associated with air travel, flying is safer than ever before.
Take a look at just about any of the events and you will find there are many that people will hardly remember. My point here isn’t that these events are to be ignored or that they were easy to stomach at the time, but that they have become a distant memory.
I want to also make the point that we should expect these types of negative events. As investors, we know these types of crises, economic catastrophes, and global phenomena are going to happen.
But in almost all cases, here is what we can say in the next breath – this too shall pass.
Will there be legal, humanitarian, economic, or some other aid required as a result of these events? Almost certainly the answer is yes, but that doesn’t mean it they won’t eventually fade into history.
Lastly, what’s worth noting is how the market has performed over these last 50 years despite the continual advertisements of the world crashing down around us. On January 2, 1970, the Dow Jones stood at 809 and the S&P at 90 -> those are not typos. These same indexes have grown (not including dividends) to 26,387 and 3,232 respectively. Amazing, no?
Perhaps what gets overlooked more than anything else is what separates the above one-time negative events from the positive stories that go largely ignored over our lifetimes. And that is a story worth telling. See the companion post below:
Unheralded Positive Events Every Year Since 1970
Stay the Course,
Ashby
Retirement Field Guide Mission:
“To help 10 million people make better retirement decisions.”
If you would like to join us in achieving our mission, I hope you will consider sharing our site if you have found it helpful in your own retirement planning.
This post is not advice. Please see additional disclaimers.
The post Ends-of-the-World Every Year Since 1970 appeared first on Retirement Field Guide.
—————–
By: Ashby Daniels, CFP®
Title: Ends-of-the-World Every Year Since 1970
Sourced From: retirementfieldguide.com/ends-of-the-world-every-year-since-1970/?utm_source=rss&utm_medium=rss&utm_campaign=ends-of-the-world-every-year-since-1970
Published Date: Tue, 04 Aug 2020 13:26:19 +0000
Did you miss our previous article…
https://getinvestmentadvise.com/retirement-planning/wildfire-prone-property-insurance-bill-in-california-due-for-hearing/
Retirement Planning
Wildfire prone property insurance bill in California due for hearing

The post Wildfire prone property insurance bill in California due for hearing appeared first on Live Insurance News.
The bill is expected to be heard in upcoming weeks as opposing sites prepare for major battle.
A new California bill, the outcomes of which will have a lot to say about coverage for wildfire prone property in the state, will soon be headed for hearing. The hearing is expected to be a heated one as strong opposing opinions have the opportunity to be voiced.
Opponents of this bill are calling it a direct attack on consumer protections in insurance.
That said, proponents of the bill claim it is the best method for making coverage available to wildfire prone property in California. The bill in question is Assembly Bill 2167. It was written by Assemblyperson Tom Daly (D-Anaheim). If it passes,it will create the Insurance Market Action Plan (IMAP) program. The IMAP program is meant to protect residential properties.
So far, AB 2167 has progressed quickly, when taking into consideration that a chunk of the legislature has been considerably restricted by pandemic crisis precautions. It was first presented in early June and backers have been saying that it was brought forward in good timing and that it has all the momentum it needs to be passed.
That said, AB 2167 has not been without opposition. In fact, it has faced considerable opposition, having been called an attack on Proposition 103, insurance consumer protection law. California Insurance Commissioner Ricardo Lara lobbed that argument at it, calling it an “insurance industry wish list, with nothing to help consumers,” and Consumer Watchdog, whose founder, Harvey Rosenfeld, was the original author of Proposition 103.
The insurance industry strongly supports the bill, saying it will help wildfire prone property coverage.
Insurance organizations such as the American Property Casualty Insurance Association and the Personal Insurance Federation both support AB 2167. The bill also has the support of the California Association of Counties (CSAC), as well as Fire Safe Councils of California, and the CalFIRE union.
The Consumer Federation of America, another watchdog organization, has predicted that if AB 2167 passes, it will cause 40 percent increases in insurance rates. On the other hand, insurance groups claim that the bill offers owners of wildfire prone property a greater opportunity for choice and competition among insurance companies based on coverage and premiums while avoiding the limitations and high costs associated with FAIR Plan coverage.
The post Wildfire prone property insurance bill in California due for hearing appeared first on Live Insurance News.
—————–
By: Marc
Title: Wildfire prone property insurance bill in California due for hearing
Sourced From: www.liveinsurancenews.com/wildfire-prone-property-insurance-bill-in-california-due-for-hearing/8549884/
Published Date: Fri, 14 Aug 2020 09:00:14 +0000
Did you miss our previous article…
https://getinvestmentadvise.com/retirement-planning/is-this-the-last-hurrah-for-bonds/
Retirement Planning
Is this the last hurrah for bonds?

Recently, I have written quite a bit about the long-term return expectations for investing in bonds. See here, here, here and here.
Spoiler alert: I don’t think it’s good.
But long-term bonds this year have been quite an amazing story as the COVID pandemic has caused the Fed to take historically monumental actions. As a result, we’ve watched long-term Treasuries tear the roof off the market. For instance, a 20+ Year Treasury Bond ETF (name withheld for compliance purposes) is up more than 31% YTD as of July 31st.
That is insane!
But there is a good reason for this increase shown below.
The red circle shows a decrease in the 30-year Treasury rate of almost 40% over a span of six months. That’s practically unprecedented with only two periods (2008 and 1981-1982) having similar declines over such short periods.
But this begs the question: Is this the last hurrah for bonds as a driver of any meaningful return? Below is the 30-Year Treasury rate over the last 40+ years.

For what it’s worth, people have been forecasting the end of the bond bull market since 2012 (maybe even earlier) and yet it has continued despite those predictions. But at some point, the bond party will come to an end.
The Fed has been clear that they are going to keep rates stable until at least 2022 which means this may not change for a little while longer. Or in the near term, I could even see the high returns continuing if we experience pandemic economic shutdown round two.
But, I can’t see a world where this is the case for much longer than that – most importantly over the span of a 30-year retirement.
The official end of the bond bull market depends on a recovery from the pandemic economy as well as a few other factors causing rates to rise. But when they do, it seems likely to me that this may be the last great hurrah for bonds for quite some time.
The question is when to get off that train and that undoubtedly requires a personal answer.
Stay the Course,
Ashby
Retirement Field Guide Mission:
“To help 10 million people make better retirement decisions.”
If you would like to join us in achieving our mission, I hope you will consider sharing our site if you have found it helpful in your own retirement planning.
This post is not advice. Please see additional disclaimers.
The post Is this the last hurrah for bonds? appeared first on Retirement Field Guide.
—————–
By: Ashby Daniels, CFP®
Title: Is this the last hurrah for bonds?
Sourced From: retirementfieldguide.com/is-this-the-last-hurrah-for-bonds/?utm_source=rss&utm_medium=rss&utm_campaign=is-this-the-last-hurrah-for-bonds
Published Date: Wed, 12 Aug 2020 13:47:16 +0000
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