By Sy Mukherjee; Fortune ~ Jul 14, 2016
Companies continued to raise prices significantly in Q1.
Big pharma’s widespread habit of regularly raising the price of their medicines has galvanized public outrage and given 2016 political candidates a convenient piñata.
But new data suggest that, so far, the outrage is still more bark than bite.
By Ben Steverman
Social Security was meant to protect elderly Americans from the financial vicissitudes of growing old. Eighty years later, the safety net championed by President Franklin D. Roosevelt is protecting some younger people, too.
About 6.4 million kids, or almost 1 in 10 Americans under the age of 18, rely on checks from Social Security. The fastest growth is among indirect beneficiaries, especially kids who live with grandparents collecting the federal benefit.
By Steven Reinberg; WebMD ~ Jul 12, 2016
TUESDAY, July 12, 2016 (HealthDay News) — More older Americans with chronic health problems are opting to live at home, relying on help from family, paid caregivers or friends, a new study finds.
In 2012, half of seniors with a disability had some type of home health care, an increase from 42 percent in 1998, University of Michigan researchers found.
By Diane Archer; The Huffington Post ~ Jul 12, 2016
The Medicare Trustees’ June 2016 report signals a projected 2017 Medicare Part B premium increase of 20 percent for some people. However, Congress could still intervene this fall to prevent it. Out-of-pocket costs for people with Medicare are already extremely high.
By Lance Roberts; Newsmax ~ Jul 12, 2016
A couple of weeks ago I discussed the importance of understanding the difference between compounded annualized returns and real annualized returns. To wit:
The ‘power of compounding’ only works when you do not lose money. For example, after three straight years of 10 percent returns, a drawdown of just 10 percent cuts the average annual compound growth rate by 50 percent.
From John A. Turner; Forbes ~ Jul 11, 2016
When average Americans confront the complicated problem of how much to save for retirement, they often use so-called “rules of thumb,” or greatly-simplified approaches, to figure out how much to save and how to invest. It turns out that many of the computer programs created to help with retirement income planning do exactly the same thing: use rules of thumb.
By Jonathan J. Cooper; The Associated Press ~ Jul 10, 2016
SACRAMENTO, Calif. (AP) — Frustrated by the rising cost of prescription drugs, California health advocates hope sunlight and a dose of shame will discourage drugmakers from raising their prices too quickly or introducing new medications at prices that break the bank.
They’re promoting legislation that would require drugmakers to provide advance notice before making big price increases. Pharmaceutical companies have come out in force against the measure, warning it would lead to dangerous drug shortages.
By Constance Gustke; The New York Times ~ Jul 08, 2016
WHEN a “brain fitness” course was introduced at her retirement community, Connie Cole was eager to sign up. After joining, she learned how to use an Apple iPad and work more complex tasks verbally and on paper.
“My father had dementia, so I’ll do anything I can,” said Ms. Cole, 86, a former elementary schoolteacher who also plays Sudoku puzzles every morning. “If I can give my kids anything, it’s to stay away from having it.”
By Catherine Winters; Parade ~ Jul 08, 2016
Getting the most from your doctor’s visit is as much your job as it is your doc’s. With a full caseload of patients to see every day, your primary care provider has, on average, 22 minutes to spend with you. “You know your body best,” says Amber Tully, M.D., an assistant professor in the Department of Family Medicine at Cleveland Clinic. “So you have to be your own advocate.”
By Sarah Ferris; The Hill ~ Jun 22, 2016
Medicare’s main trust fund will run dry by 2028, two years earlier than previous estimates, according to a review released Wednesday by the Obama administration.
The Social Security trust fund will run dry by 2034, the same as expected last year.
Both programs, which made up about 40 percent of federal spending in 2015, face major solvency concerns in the next two decades, officials warned Wednesday.
“Medicare faces a substantial, long-term shortfall that needs to be addressed,” Treasury Secretary Jack Lew told reporters.
