LongTerm Archives - DR News - News, Retirement, Finance

Finances of Social Security and Medicare See Improvements Amidst Long-Term Concerns

Washington, D.C. – Social Security and Medicare have shown signs of improvement in their finances, but a looming long-term outlook still poses significant challenges for both programs. The recent reports from the trustees of Social Security and Medicare highlight the impact of a stronger economy and lower-than-expected spending on delaying the projected insolvency dates. According to the reports, Medicare’s hospital insurance trust fund has gained an additional five years before facing insolvency in 2036. On …

Covid Impact: Lack of Data Leaves Authorities In the Dark about Long-term Effects

Geneva, Switzerland – Long Covid continues to have a significant impact on both work productivity and public health, as officials and economists express concerns over the challenges in accurately measuring the effects of the condition. Defined as symptoms that persist or develop three months after an initial infection and last for at least two months, long Covid has been detrimental to the productivity of healthcare systems, with far-reaching consequences on the broader workforce. However, the …

Long-term Care Confusion: Washington State Agencies at Odds Over Exemptions

Olympia, Washington – Confusion has arisen among state agencies regarding workers who were granted exemptions from WA Cares, Washington’s mandatory long-term care benefit program. The program, funded by a 58-cent deduction from every $100 earned from workers’ paychecks, allowed individuals to opt out if they could demonstrate they had private long-term care insurance in place before November 1, 2021. However, this opt-out provision is no longer available for new applicants. During a recent WA Cares …

Retirement: Crows Legend Rory Sloane Bows Out for Long-Term Health

Adelaide, Australia – Highly respected Adelaide Crows midfielder Rory Sloane has announced his retirement from professional football after a distinguished career as a one-club player. Sloane, who played 255 games over 16 seasons, made the difficult decision in the best interests of his long-term health, following a second bout of surgery on a detached retina earlier this year. The former captain, club champion, and All Australian shared his decision with teammates on Monday morning, after …

“2025 Long-Term Inflation Forecast Predicts Lowest Social Security COLA Since 2020” – The 401(k) Specialist

Boston, MA – A recent long-term inflation forecast predicted that the Social Security cost-of-living adjustment (COLA) for 2025 will be the lowest since 2020. This forecast has raised concerns about the financial security of retirees and individuals relying on Social Security benefits. The impact of low COLA on retirement planning and budgeting is significant, as it affects the purchasing power of retirees and their ability to keep up with the rising cost of living. The …

Utah Relies on Long-Term Demographic and Economic Projection Models for Informed Decision Making

SALT LAKE CITY, Utah – Models play a vital role in informing decision-making processes, especially in a high-growth state like Utah. These models are not meant to replace critical thinking, but to enhance it by organizing thought processes, understanding relationships, and shedding light on cause and effect. Long-term demographic and economic projection models have become essential tools in providing policymakers with vital information to make informed decisions that impact various aspects of the state, such …

Insurance Experts Discuss Long-Term Care for Seniors on Limited Incomes

Boston, MA – Healthcare costs have been steadily increasing over the years, impacting a wide range of Americans, especially those with limited incomes like seniors and retirees. The high costs associated with long-term care, a necessity for many older individuals as they age, can pose significant financial challenges. According to statistics from insurance company Genworth, seven out of 10 older Americans will require long-term care at some point. Nursing home expenses range from $8,669 to …

Medicare misunderstanding: Toni shocked to find out coverage doesn’t include long-term care

CULLMAN, Ala. – Many individuals mistakenly believe that Medicare covers long-term care services, like nursing home stays or home health aides. However, this misconception often leaves people unprepared for the costs associated with such care, leading to financial strain and unexpected expenses for seniors and their families. While Medicare does cover certain medical services and short-term skilled nursing facility care, it does not typically pay for long-term care that involves assistance with activities of daily …

Medicare Misconceptions: Toni Believes Coverage Includes Long-Term Care – Cullman Times Online Story

Cullman, Alabama – Many individuals mistakenly believe that Medicare covers long-term care expenses; however, this is not typically the case. The confusion surrounding Medicare coverage for long-term care often leaves individuals ill-prepared for the financial burden that comes with aging or disabling conditions requiring extended care services. Long-term care can encompass a range of services, including personal care assistance, help with daily activities, and nursing care. These services are usually not covered by Medicare, leading …

Consequences of Waiting to Purchase Long-Term Care Insurance

NEW YORK – Planning for long-term care and how to afford it is a major concern for many Americans as they age. According to experts, delaying the purchase of long-term care insurance can have serious consequences, and it is advisable to consider coverage sooner rather than later. With the majority of older Americans expected to need some form of long-term care, it is crucial to plan for these expenses to avoid a detrimental impact on …