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
At Least 1.7M Americans Use Health Sharing Arrangements, Despite Lack of Protections

A new report has provided the first national count of Americans who rely on health care sharing plans — arrangements through which people agree to pay one another’s medical bills — and the number is higher than previously realized.
The report from the Colorado Division of Insurance found that more than 1.7 million Americans rely on sharing plans and that many of the plans require members to ask for charity care before submitting their bills.
The total membership numbers are likely even higher. The state agency collected data from 16 sharing plans across the U.S. but identified five other plans that did not report their data.
“These plans cover more people than we had previously known,” said JoAnn Volk, co-director of the Center on Health Insurance Reforms at Georgetown University.
Under the arrangements, members, who usually share some religious beliefs, agree to send money each month to cover other members’ health care bills. At least 11 of the sharing plans that reported data operated in or advertised plans in all 50 states in 2021.
Sharing plans do not guarantee payment for health services and are not held to the same standards and consumer protections as health insurance plans. Sharing plans are not required to cover preexisting conditions or provide the minimum health benefits mandated by the Affordable Care Act. And unlike health insurance, sharing plans can place annual or lifetime caps on payments. A single catastrophic health event can easily exceed a sharing plan’s limits.
In Colorado, at least 67,000 people were members of sharing plans in 2021, representing about 1 in 4 Coloradans purchasing health care coverage on their own. That rate concerns Kate Harris, a chief deputy commissioner of the Colorado Division of Insurance, which she said regularly receives complaints from sharing plan enrollees.
“What we hear from consumers is that when they purchase one of these, they do think there is some guarantee of coverage, for the most part, despite the disclaimers on many of the organizations’ websites,” Harris said.
The Colorado report found that health sharing arrangements often require their members to seek charity care or assistance from providers, governments, or consumer support organizations before submitting sharing requests. Those costs are then shifted to other public or private health plans.
Katy Talento, executive director of the Alliance of Health Care Sharing Ministries, which represents five of the largest and longest-operating sharing plans in the country, said sharing ministries encourage members to act like the uninsured people they are. Such requirements to seek charity care reflect a desire to be good stewards of their members’ money, Talento said.
“Think about it like a soup kitchen,” she said.
Fourteen sharing plans reported that Colorado members submitted a cumulative $362 million in health bills in 2021, and nearly $132 million of those requests were approved. The remainder, sharing plan executives told the division, reflected duplicative bills, ineligible charges, negotiated discounts, and the members’ agreed-upon portion of medical bills.
“It’s not like every claim line on a health care sharing request is going to be eligible for sharing,” Talento said. “They have to submit the whole bill. They can’t just pull out a piece of it.”
But consumer complaints to the Division of Insurance and to consumer assistance programs, such as the Colorado Consumer Health Initiative, show that members do not always realize what sharing plans will cover.
“We have seen firsthand the risks that people face when they sign up for these arrangements without recognizing the magnitude of the risk that they’re assuming for their health care costs,” said Isabel Cruz, the initiative’s policy director.
Talento disputed the notion that members don’t know the parameters of their sharing plans.
“That’s just suggesting that our members are dumb,” she said. “Is it likely that somehow our people are going to be willy-nilly jumping blindly into something?”
Theresa Brilli, a small-business owner in Longmont, Colorado, said she and her partner signed up for a direct primary care plan in 2017 that covered primary care visits for $179 a month. Direct primary care plans are payment arrangements between patients and providers for receiving health services without billing insurance. The plan had an arrangement with Liberty HealthShare, a Canton, Ohio-based sharing plan with more than 131,000 members nationwide, to cover additional services like preventive screenings, emergency room care, and hospitalizations for $349 a month with a $1,000 deductible. The rates increased to $499 a month, with a $1,750 deductible, in 2020, Brilli said.
But Brilli said getting payments was a major hassle.
“It took about four to eight months to get reimbursed,” she said. “It was a fight, every bill.”
When she heard about enhanced subsidies for ACA marketplace plans in 2022, she decided the hassle was no longer worth it and switched to a Kaiser Permanente plan for $397 a month.
“I will never go back to Liberty Health or a health care sharing plan,” she said. “I didn’t agree with the whole ministry thing. They made you sign off saying you believed in God, which was like, ‘Whoa, I guess that’s what I have to do to get my health insurance.’”
Laura Murray, 49, of Aurora, Colorado, said she signed up for a Liberty HealthShare plan in 2017 as a more affordable alternative to her husband’s employer-based plan.
“We kind of felt we were cutting out the middleman in a way, and it was a helping-out-your-neighbor sort of deal,” she said.
But when she became pregnant unexpectedly, she had trouble getting her health bills paid. Initially, Liberty paid only a portion of the tab, and her bills got sent to a collection agency. It was only through multiple calls that she learned she needed to send the bills to a third party that would negotiate with the providers.
“It took years to get it cleared up,” she said.
Timothy Bryan, Liberty’s vice president of marketing and communication, disputed many of the details of Brilli’s account and attributed some of the delay in payment to her “failure to submit the required supporting documentation.” Murray’s payments, he said, were delayed more than 10 months because she had failed to provide the required pre-notification.
Mike Quinlan, 42, of Denver, turned to a health sharing ministry in 2014 after the birth of his first child cost him more than $17,000 out-of-pocket, on top of nearly $24,000 in premiums that year, under an employer-sponsored health plan. He said the births of his three youngest children were covered in full by Samaritan Ministries International, a Peoria, Illinois-based sharing plan with 359,000 members, to which he contributes $600 a month. When he incurs large health expenses, he receives a slew of $600 checks from other members, he said.
Every year, Quinlan attests that he is a Christian and identifies the church he attends.
“This is a group of like-minded people who have said voluntarily we’re going to trust each other to cover each other’s health costs,” he said.
The rules differ from plan to plan. Some sharing plans require members to pledge to abide by Christian principles, and some exclude payment for out-of-wedlock births or health issues that arise from drug use. Many sharing plans exclude coverage of contraception, mental health services, and abortion, often with no exceptions for rape or safety of the mother.
Regulators in Colorado and other states have also expressed concerns that health sharing arrangements are paying brokers much higher commissions for signing up members than health plans do. That could create financial incentives to push sharing plans over health insurance without adequately educating consumers about the differences.
In 2019, Covered California, the Golden State’s ACA marketplace, instituted a requirement that its certified agents who sell both sharing plans and health insurance provide consumers with a list of disclosures about sharing plans and show them the subsidies they could receive for buying traditional health insurance coverage.
“It’s really important that consumers understand what these arrangements are, and what they are not,” said Jessica Altman, executive director of Covered California.
Harris said the Colorado Division of Insurance is investigating multiple health sharing arrangements based on consumer complaints but declined to name them.
Colorado officials are also concerned that health sharing arrangements might appeal primarily to people who don’t expect to use many health services. That could increase the proportion of sicker and more expensive patients among enrollees in traditional health insurance plans, driving up premiums.
Harris said many consumers can get a health plan for less than the cost of a sharing plan, particularly with increased federal and state subsidies put in place in recent years. State officials are also working to inform consumers of the financial risks associated with health sharing arrangements, some of which have gone bankrupt in recent years.
“It might look cheaper on its face, month to month,” Harris said. “But if they do really actually need their costs covered, there’s a real risk that they may not be.”
KFF Health News is a national newsroom that produces in-depth journalism about health issues and is one of the core operating programs at KFF—an independent source of health policy research, polling, and journalism. Learn more about KFF.
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—————–
By: Markian Hawryluk
Title: At Least 1.7M Americans Use Health Sharing Arrangements, Despite Lack of Protections
Sourced From: kffhealthnews.org/news/article/health-sharing-arrangements-ministries-protections-risks/
Published Date: Wed, 14 Jun 2023 09:00:00 +0000
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Retirement Planning
Give Yourself the Perfect Retirement Gift

Give Yourself the Perfect Retirement Gift
From day one, everyone looks forward to retirement, that day where they can finally let go of the stresses of the daily grind and spend their leisurely days traveling, reading and basically having fun. As compared to previous generations, we have longer life spans so we all expect our golden years to be fulfilling and rewarding.
Instead of waiting for people to help you plan your retirement, you should do it yourself. Although retirement planning is probably one of the most draining activities where one spends loads of time perusing over financial and brokerage statements, benefits brochures and insurance policies. One does this in terms of the benefits of long term planning: if one retires earlier, he/she will think and anticipate less on government-funded plans which only gives a pittance of a pension and focus more on the beauty of life.
Why Retirement Planning is Necessary
Obviously, retirement planning isn’t all about numerous hours of stress by chugging down numbers and analyzing mutual funds: it’s about fixing and deciding how you will live the final years of your life. If one can balance financially and plan fully on a retirement plan, rest assured that your future is secure.
But remember that retirement planning isn’t a singular activity. It is something that stretches forth to decades, spanning your 30s, 40s and 50s. In every decade, one must rethink their strategies since you are inching closer and closer to retirement, thus one must forgo risky investments and go to bonds and reliable mutual funds as the years pass by.
Build the Right Retirement Plan
A retirement plan must be suited to your risk tolerance and apparent need for cash when retirement comes. If you prefer a general 401(k) that has a good balance of everything, you may go for equal amounts of low-risk bonds and riskier stocks or you may also opt for an assortment of mutual funds that both have high-risk and low-risk funds.
Generally, risk tolerance is congruent to one’s age. If you are on your 20s or early 30s, you may opt for a more stock-saturated mutual fund in the hope of getting a good return because of the added risk stocks give. If ever the worst comes and you face some declines in the stock market, you still have a good 20 to 30 years to compensate for the losses.
On the other hand, if one is teetering on the 40s or 50s, it is necessary that one must go low-risk in his/her investments. One’s mutual funds must now be concentrated more on low-risk government bonds, which virtually assure no losses and minimum gain, if there will be no huge political crisis, of course.
If one follows this general age/risk rule, then one has better chance that one has an ample amount of cash to spend on the pleasures of life when retirement age finally comes.
Conclusion
One has always dreamt of traveling the world, playing golf all day and enjoying the best life can give. But one cannot do all that while working away in the office. Therefore one must give importance to the rising necessity of building a retirement plan.
It is probably as stressful as work itself, but if you can carry all that heap of information and mix it into the delicacy that is a finely tailored retirement plan, then rest assured that your dream of tasting and relishing the best of life is definitely reachable by 65.
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
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The post Ends-of-the-World Every Year Since 1970 appeared first on Retirement Field Guide.
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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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