The financial news that actually matters
The White House is preparing to announce another round of agreements aimed at lowering U.S. prescription drug prices, this time with a group of midsized biotechnology companies. Under the deals, first reported by Bloomberg on August 26, the drugmakers would offer state Medicaid programs the same lower prices they charge for outpatient medicines in other…
Health insurers are pulling out of the Medicare Advantage market at a pace the program has never seen, and the fallout is landing on older Americans who assumed their coverage was settled. A new analysis from the Johns Hopkins Bloomberg School of Public Health estimates that as many as 2.9 million Medicare Advantage members —…
Most people assume a will is a private document, and in a sense it is right up until it is needed. The moment a will takes effect, it usually enters the probate court, and probate is a public process. That means the contents of an estate, the names of heirs and the value of what…
Generosity moves fastest right after a disaster, and so do the people who prey on it. When a hurricane, wildfire or shooting dominates the news, fake charities and copycat groups surface within days, often using names that sit one word away from a real and trusted organization. A few minutes of verification before giving is…
A will written years ago can quietly turn into a set of instructions no one actually wants followed. Life changes such as a divorce or the death of a spouse, child or named heir can leave an estate plan pointing at people who are no longer in the picture, and the document does not correct…
A hospital bill rarely arrives with a note explaining that the number printed on it is often negotiable, yet for many patients it is. Hospitals and physician groups frequently carry a quieter price for people who pay quickly in cash, and that discount is usually available only to those who think to ask before handing…
Converting a traditional retirement account to a Roth is one of the more popular moves for retirees who expect their tax rate to stay flat or climb, but the strategy carries a timing trap that catches early retirees off guard. Each conversion sets off its own five-year countdown, and pulling the converted money out before…
When a parent or spouse dies leaving a modest amount of money and no complicated holdings, families often brace for a long, costly trip through probate court. In many cases that trip is unnecessary. Nearly every state offers a stripped-down path for small estates, one that can move a bank balance or a car title…
Most people fill in a beneficiary line once, when they open a retirement account or buy a life insurance policy, and never look at it again. That single line quietly overrides a will and sends the money straight to the named person. What far fewer savers complete is the second line, the contingent beneficiary, and…
The phone rings, a stern recorded voice announces that a Social Security number has been suspended over suspicious activity, and the listener is told to call back at once or face arrest. It is designed to frighten, and for older Americans it works often enough to remain one of the most persistent frauds in the…