Retirement Planning
Si perdiste tu seguro de salud por la crisis de COVID-19, tienes opciones

El coronavirus y las consecuencias económicas de la pandemia, impulsaron el trabajo del asesor de seguros de salud Mark Van Arnam. Pero él quiere estar aún más ocupado.
Para gran parte de las 21 millones de personas que se han quedado sin empleo, la pérdida ha sido doble: el trabajo y el seguro de salud, dijo Van Arnam, director del North Carolina Navigator Consortium, un grupo de organizaciones que ofrece ayuda gratuita a los residentes del estado para que consigan cobertura médica.
Las llamadas al consorcio han aumentado considerablemente, pero Van Arnam cree que muchas más personas no tienen seguro y podrían recibir ayuda. Sospecha que estas personas recién desempleadas no saben que tienen opciones.
Años de recortes presupuestarios por parte del gobierno federal han obstaculizado el alcance de grupos sin fines de lucro como el consorcio. Por eso, muchos consumidores ni llegan a enterarse que hay normas disponibles para ayudarlos a recuperar o mantener la cobertura de salud.
“Un gran número de personas no está recibiendo el mensaje”, dijo Van Arnam.
Algunos nuevos desempleados aprovechan los períodos especiales de inscripción para inscribirse en los planes que se ofrecen en los mercados de seguros creados bajo la Ley de Cuidado de Salud a Bajo Precio (ACA). Otros descubren que califican para Medicaid. Algunos pueden tener la opción de permanecer en el plan de su antiguo empleador.
Pero la fecha límite se acerca para algunas de estas opciones.
Período especial de inscripción
ACA es un respaldo esencial para muchos de los nuevos desempleados.
Según la ley de salud, las personas que experimentan ciertos “eventos de vida”, como mudarse, casarse, tener un bebé o, en este caso, perder su trabajo y la cobertura laboral, califican para un período especial de inscripción.
Esto significa que pueden adquirir cobertura sin tener que esperar a la ventana anual de inscripción.
Los solicitantes deben presentar ciertos documentos para demostrar que califican para una inscripción especial, como prueba de cobertura previa basada en el trabajo.
En 2016, la administración Obama comenzó a verificar aleatoriamente estos documentos, pero la administración Trump intensificó ese escrutinio, en respuesta a las preocupaciones de las aseguradoras de que algunas personas estaban “jugando” con el sistema inscribiéndose solo cando enfermaban.
Por COVID-19, algunos navegadores informan que estos requisitos se han relajado. Específicamente, la administración Trump parece haber reducido los controles de documentación previa a la aprobación, por la dificultad para conseguir esos documentos con empresas trabajando en forma remota.
“Incluso en los buenos tiempos, los empleados casi siempre necesitan ayuda de su departamento de recursos humanos para identificar los documentos que necesitan”, dijo Deepak Madala, gerente de programa de Enroll Virginia, una organización sin fines de lucro que ayuda a las personas a inscribirse.
Según informes, la administración se ha mantenido vigilante en sus requisitos de documentos con respecto al estatus migratorio de los solicitantes. Los inmigrantes indocumentados no son elegibles para inscribirse en los planes de ACA, Medicare, Medicaid o el Programa de Seguro de Salud Infantil (CHIP).
El tiempo es crítico
También es importante recordar que el tiempo pasa rápido. En general, las personas tienen 60 días después de perder su seguro de salud a través del trabajo para usarlo como una razón para calificar para un período especial de inscripción bajo ACA.
“Los recién despedidos tendrían que actuar rápidamente para registrarse en el mercado”, dijo Tara Straw, analista senior del Center on Budget and Policy Priorities.
También es importante mirar el calendario si vives en un estado que tiene su propio mercado y lo reabrió por la pandemia.
Algunas ventanas de oportunidad ya se han cerrado, pero en Maryland y Vermont, la fecha límite es el 15 de junio. La inscripción especial en California permanecerá abierta hasta al menos el 30 de junio y en el Distrito de Columbia hasta el 15 de septiembre.
No hay un recuento nacional de cuántas personas se han inscrito en la cobertura de ACA desde enero, ya que el mercado federal no publica estadísticas. Sin embargo, algunos estados lo hacen. En California, el mercado más grande, se han inscrito más de 125,000, más del doble de la tasa de inscripción especial típica. Los números son más pequeños en otros estados.
Las personas que al momento de perder el trabajo eran pacientes de COVID o estaban cuidando a alguien enfermo podrían tener más tiempo para inscribirse. Una consideración especial similar a la que otorga el gobierno en casos de desastres naturales, como los huracanes.
El sitio de internet de ACA es cuidadodesalud.gov/es/coronavirus o los mercados estatales en caso que el estado gerencie su propio mercado.
Otras opciones
La mejor apuesta para algunos solicitantes es Medicaid, enfatizó Straw.
El programa de salud federal gerenciado por los estados no requiere un período de inscripción especial: si califican, los solicitantes pueden inscribirse en cualquier momento del año.
En general, Medicaid y CHIP cubren a familias con niños, mujeres embarazadas, adultos mayores y personas con discapacidades. La elegibilidad en base al ingreso varía según el estado.
La mala noticia es que 14 estados no han ampliado Medicaid bajo ACA. En esos estados, algunas personas, especialmente adultos por debajo de la línea de pobreza sin hijos dependientes, podrían no ser elegibles para la cobertura de Medicaid.
Esto crea un obstáculo: no ganan lo suficiente para superar la línea de pobreza, pero tampoco califican para un plan subsidiado de ACA. Estas personas están atrapadas en lo que se llama la “brecha de cobertura”.
“La gran mayoría de las personas que vemos obtienen cobertura y alcanzan el 100% del nivel federal de pobreza con beneficios de desempleo e ingresos hasta la fecha”, dijo Van Arnam en Carolina del Norte, uno de los estados que no ha expandido Medicaid. “Por lo general, pueden obtener un plan de ACA con una prima de cero o muy baja, lo que les quita un gran peso de encima”.
Mantenerse en el plan de un ex empleador, a través de una ley conocida como COBRA, también es una opción para algunos. La fecha límite para inscribirse se ha extendido hasta 60 días después de que finalice la emergencia nacional de COVID.
En una situación normal, el consumidor bajo COBRA debe hacerse cargo de todos los gastos, y estos pueden ser sustanciales. Sin embargo, durante la pandemia, algunos empleadores comparten ese costo, y el Congreso podría considerar un subsidio total o parcial en la próxima legislación.
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By: Julie Appleby, Kaiser Health News
Title: Si perdiste tu seguro de salud por la crisis de COVID-19, tienes opciones
Sourced From: khn.org/news/si-perdiste-tu-seguro-de-salud-por-la-crisis-de-covid-19-tienes-opciones/
Published Date: Fri, 12 Jun 2020 11:42:48 +0000
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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
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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
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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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