Retired couples, according to EBRI research, can require up to $370,000 to cover premiums for Medicare Parts B and D, premiums for Medigap Plan F, and out-of-pocket spending for outpatient prescription drugs.
However, employers will likely have some difficulty in knowing how to handle the January 1, 2018, effective date that has been assigned for many provisions in the House and Senate tax reform proposals, especially for the purposes of income tax withholding.
More than half of Millennials struggle to pay their doctors’ bills or have an acquaintance who does.
Options are available, though, to mitigate the jump and provide more affordable care.
Survey results indicate that 67% of Americans reported at least one chronic health condition.
The list of regulatory and legislative challenges affecting employers and their retirement plan consultants can seem endless, and when linked to the increasing litigation from the plaintiffs’ bar, it can seem impossible to reach a point of certainty.
The complaint states that Johns Hopkins has not prudently managed its 403(b) plan, but a district court judge disagrees, at least on several aspects of the complaint.
The combined services of the firms are being rolled out in response to employers asking for a comprehensive investment strategy that ties health and retirement benefits together.
“Adding deductibles, copays, hearing, vision, and dental cost sharing, the number grows to $607,662 in future dollars,” the research states.
Fidelity reports that a record number of plan sponsors are actively looking to switch their plan advisers.
The district court had previously ruled against the plaintiffs’ motion for a preliminary injunction, finding AARP did not prove irreparable harm to its members was likely; yet in the end AARP has prevailed in its challenge.
The 2017 estimate of $270,000 in anticipated health care expenses for a retiring couple is 6% greater than last year’s figure and represents a 70% increase since Fidelity’s initial retiree health care cost estimate in 2002.
Users of the Alegeus mobile app now have access to a voice-activated component designed to answer their questions about health care.
MagnaCare has been ordered to return at least 14.5 million to ERISA-covered health benefit plans.