By Elizabeth O’Brien; MarketWatch ~ Nov 01, 2014

Coaches can be helpful—but the fees can be steep

Not long ago, retirement followed a predictable path: collect a pension and enjoy leisure time. These days, the predictable path has gone the way of pensions, and a host of professionals want to help boomers navigate the new landscape. They go by names like “retirement coach,” “life planner,” even good old-fashioned “financial adviser.” But do they make sense for you?

We all know the statistics: An estimated 10,000 boomers retire every day. They’re living longer than ever. For a couple aged 65 today, there’s a 25% chance one of them will live to be 97, according to the Society of Actuaries. And among private-sector workers with employment retirement plans, only 7% had a pension in 2011, compared with 62% in 1979, according to the Employee Benefit Research Institute.

By Robert Laura; Forbes ~ Oct 31, 2014

Take a deep breath. This topic will evoke a lot of feelings and emotions. It’s one of those black-eye subjects that you assume doesn’t happen, and therefore doesn’t need to be addressed. But it’s real and it’s taking place with shocking frequency. The issue is that more and more wives are being outright betrayed by their husband’s retirement decisions. In some situations it’s the result of blatantly poor planning and applying bad information, other times it’s just plain sneaky. In either case, it’s the same person loses out – the wife.

By Elise Viebeck; The Hill ~ Oct 31, 2014

The Centers for Medicare and Medicaid Services (CMS) released nearly 3,000 pages of regulations late Friday finalizing 2015 payment rates for various providers and services in the Medicare program, including physicians.

The agency also revised the workings of several smaller quality initiatives related to end-stage renal disease, ambulatory surgical centers and hospital outpatient care, and adjusted aspects of the fee schedule for durable medical equipment within Medicare.

“These rules are a part of the broader strategy driving greater value in health care,” said CMS Administrator Marilyn Tavenner in a statement.

By Magaly Olivero & Evi Heilbrunn; US News & World Report ~ Oct 31, 2014

Depending on where you live, Medicare Cost plans may offer the “best of both worlds” for older adults who want the flexibility of keeping their traditional Medicare benefits while simultaneously having access to out-of-network health care providers.

“The key difference between Medicare Cost plans and other types of Medicare plans is that enrollees are not restricted to the plan’s network of providers. They can go outside the network to receive Medicare-covered services,” says David Lipschutz, senior policy attorney at the Center for Medicare Advocacy, a nonprofit in the District of Columbia.

By Jacob Siegal; BGR ~ Oct 31, 2014

AT&T announced on Friday that its top tier Mobile Share Value plan customers will receive more data for no extra cost beginning November 2nd. Once the new plans go into effect, customers paying $40 for 2GB will be upgraded to 3GB and those paying $70 for 4GB will be upgraded to 6GB. All Mobile Share Value plans will also include unlimited talk, text and international messaging for no additional charge.

FROM EARLIER: AT&T doubles data plan sizes in huge limited-time promo

By Jack Tatar; MarketWatch ~ Oct 30, 2014

“What’s in your wallet, old man?”

Although retirees are bombarded with ads about walk-in tubs, reverse mortgages and river cruises, most of the millions of dollars spent on credit card ads seem focused on younger individuals. Hey, one day Tina Fey will be old, too!

It’s probably only a matter of time before someone comes out with a specific credit card for retirees, seniors and older Americans. After all, they’re not that different from the younger, credit-burdened population.

By Elise Viebeck; The Hill ~ Oct 30, 2014

The Centers for Medicare and Medicaid Services (CMS) finalized a $60 million cut to home health agencies for 2015 in a rule released Thursday.

The cut equals 0.3 percent of Medicare payments to the industry, which provides home-based medical services to roughly 3.5 million seniors.

Groups representing home healthcare providers have lobbied to stop the cuts, arguing they will endanger care for vulnerable patients with few clinical options.

The CMS said the rule will help advance the goal of delivering better care at lower costs.

By Elizabeth O’Brien; MarketWatch ~ Oct 30, 2014

Shifts in health-care plans can lead to soaring prices

On the fun scale, reviewing your Medicare coverage probably ranks somewhere between a root canal and traffic court. But it’s that time of year again: Medicare open enrollment has begun, and those who don’t review their plan details could find themselves paying a lot more than they bargained for next year.

Medicare open enrollment runs from Oct. 15 through Dec. 7, and during this time beneficiaries can pick a new Medicare Part D drug plan, a new Medicare Advantage plan, or switch from original Medicare (coverage managed by the federal government) into a Medicare Advantage plan (coverage managed by private health plans that contract with Medicare) or vice versa.

From Consumer Reports; Yahoo ~ Oct 30, 2014

Chances are you’re paying more than you need to for prescription drugs. But thanks to discounts offered at Costco, CVS, Target, Walgreens, Walmart, and others, hundreds of common generic drugs can be purchased for pennies per pill.

Retailers offer the discounts to draw in customers. The lower-priced pills aren’t part of any health insurance, and using them won’t count toward your deductible. But they can be a huge help, especially if you don’t have insurance or good drug coverage. And sometimes prices could even be cheaper than if you used insurance. Here’s how to get the most from the programs.

From Jamie Hopkins; Reuters ~ Oct 29, 2014

The importance of Social Security retirement benefits cannot be understated as nearly one-third of all U.S. retirees rely solely upon Social Security for their retirement income. Despite its importance and successful history of providing retirement income to the elderly, Social Security is at a crossroads and cannot continue down the same path for much longer. If it continues to operate under the status quo system, Social Security will only be able to pay 77% of its promised benefits in 2033. While that is a major blow to the system, it would be able to continue paying around 77% of benefits until 2088 when payments would drop to 72% of today’s promised benefits.