By Elaine Floyd, CFP ® COBRA is the temporary insurance that allows people to remain insured for 18 months (or sometimes longer) after leaving employment. It is designed to give people time to get another job or find a different health plan. Aside from the expense—terminated employees must now pay the entire premium themselves—it works well …
By Elaine Floyd, CFP ® Changes in marital status always call for a review of the financial plan. As you’re considering how taxes, estate planning, and retirement goals may be impacted by marriage, divorce, or death of a spouse, don’t forget about Social Security and Medicare. Here’s a rundown of common marital events among baby boomers …
By Elaine Floyd, CFP ® A relatively new animal has popped up in the world of Medicare insurance and it has the potential to both negatively affect retirees’ health care and cost taxpayers more money. It’s the employer group Medicare Advantage plan. Like a regular Medicare Advantage plan, an insurance company promises to provide all care …
By Elaine Floyd, CFP ® It is common knowledge by now that if a person applies for their Social Security benefit after full retirement age (FRA), the benefit will include delayed retirement credits (DRCs) of 8% per year up to age 70. This is enough to entice savvy people—especially higher earners—to claim at 70 even if …
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