Cost Archives - DR News - News, Retirement, Finance

Seniors Return to Workforce to Cope with Rising Cost of Living, Struggle to Land Jobs

New Port Richey, Florida – Retirees in Florida are facing financial challenges as they struggle to make ends meet on fixed incomes. Ricky Bowman, a 66-year-old retiree, finds himself considering returning to work to cope with the soaring cost of living. With the cost of essential items nearly doubling, Bowman questions how seniors can survive on Social Security benefits alone, which amount to around $1,400 a month. For many older Americans, savings and Social Security …

Social Security Benefits Face Uncertain Future with Lower Cost of Living Adjustment Forecast

Miami, Florida – Social Security beneficiaries in Miami, Florida, are bracing for a potential decrease in their Cost of Living Adjustment (COLA) next year. The adjustment, typically based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) during the third quarter, plays a crucial role in protecting the purchasing power of retirees against inflation. While the official COLA for 2025 has yet to be calculated by the Social Security …

Insulin Cost Takes Center Stage in Biden’s Campaign

COLUMBUS, Ohio – As the presidential campaign heats up, the cost of insulin has emerged as a significant issue for candidate Joe Biden. The soaring prices of this life-saving medication have sparked widespread concern among Americans, leading to a call for action from the Democratic nominee. Biden’s focus on addressing the high cost of insulin comes at a time when many individuals with diabetes struggle to afford this vital medication. The rising prices have forced …

Individual 401K Fee Comparison: Ascensus Administration Cost vs Competitor’s Quote

Los Angeles, California – In a world where quality service comes with a price tag, the importance of transparency in fee structures cannot be overstated. For individuals seeking to invest in their future through a 401K plan, understanding the costs involved is crucial in making informed decisions. One example of this is the Individual 401K administered by Ascensus via Pershing, which incurs an annual fee of $150. This figure contrasts starkly with the $20 originally …

Colorado Bill Mandating Insurer Coverage for Weight Loss Drugs Clears Key Hurdle Despite Cost Concerns

Denver, Colorado – A bill that recently progressed in the Colorado State Capitol could potentially require state-regulated insurers and Medicaid to provide coverage for weight loss drugs for individuals who are either obese or prediabetic. Despite facing opposition from the Division of Insurance and the Department of Health Care Policy and Financing, the bill managed to pass the Senate Appropriations Committee. The bill’s estimated cost implications have raised concerns, with the state’s Medicaid system potentially …

Cyberattack Fallout: UnitedHealth Confirms Compromised Patient Data and $1.6 Billion Cost

Minneapolis, Minnesota – Just over a month after a cyberattack on Change Healthcare wreaked havoc on businesses, prescription access, and billing for providers nationwide, United Health Group has confirmed the compromise of patient data during the incident. Reports indicate that a second ransomware group, RansomHouse, claimed to have accessed and obtained over 4 terabytes of data related to Change Health. Although these claims have not been officially substantiated by the insurance giant, news sources have …

Benefits Available for Veterans and Families to Cover Rising Cost of Living

Denver, Colorado – As the cost of living continues to rise, it is crucial for marginalized and at-risk communities to be aware of the benefits available to them. One group that can greatly benefit from existing programs is veterans and their families. For those who have served in the United States Armed Services, the U.S. Department of Veterans Affairs offers funding for various programs aimed at improving the quality of life and care for aging …

FAFSA Chaos Causing College Cost Confusion for High School Seniors

WASHINGTON – The college admissions process has always been a stressful time for high school seniors, but this year, a new FAFSA form has added an extra layer of chaos to the mix. The introduction of the revamped Free Application for Federal Student Aid has led to significant delays, preventing applicants from receiving accurate information about their financial aid awards. As a result, many students are left in the dark about how much attending college …

Tax Raid: Average Worker Faces £50000 Extra Stealth Cost During Career

London, UK – A widow in the UK is facing a 20% tax charge on her state pension, which has been attributed to former Health Secretary Jeremy Hunt. This tax charge has been described as “pointless” and has sparked outrage among pensioners across the country. The issue arises at a time when state pensioners are already grappling with financial challenges amidst the ongoing pandemic. The widow’s plight highlights the complexities and challenges faced by retirees …

Private Equity Firms Profit from Health Care Cost Debate, Playing Both Sides – The New York Times

In New York City, a heated battle is underway over the rising costs of healthcare. Private equity firms are playing a significant role in the debate, as they invest in a wide range of healthcare businesses, from providers to insurance companies. These private equity firms often find themselves on both sides of the issue. On one hand, they aim to maximize profits for their investors by cutting costs and increasing efficiency in healthcare operations. On …