Federal Government Finalizes Modest Cut to 2025 Medicare Advantage Rates | Healthcare Dive
The Centers for Medicare and Medicaid Services (CMS) finalized the rates it will pay to insurers who run Medicare Advantage plans in 2025, and it’s a slight decrease from the current base rate. The federal government insists insurers will still come out ahead under the new rates, but insurance companies say lower rates could force them to cut benefits and raise premiums.
Vermont Plans to Partner with Colorado on State Auto-IRA Retirement Plan | PLANSPONSOR
Vermont is the latest state to team up with Colorado to administer its new state-run automatic individual retirement account (IRA) program for people who don’t have access to a retirement plan at work. Colorado’s plan, known as SecureSavings, has also helped auto-IRA programs in Maine and Delaware get off the ground.
Americans Think They Need Almost $1.5 Million to Retire. Experts Say to Focus on Another Number Instead | CNBC
For workers who rely on defined contribution accounts like 401(k)s for retirement, knowing how much to save can be a challenge. According to a recent survey, people think they’ll need about $1.46 million to retire comfortably. But experts say workers should be more focused on saving for their individual needs and goals rather than any particular dollar amount.
Writing a Will is Becoming Less Popular. Why Americans are Opting Out | USA Today
At the height of the COVID-19 pandemic, people saw the need to have a will on file, and estate planners saw a spike in people needing their services. Since then, the percentage of Americans adult who say they have a will had been steadily increasing. The most recent survey, conducted at the end of 2023, showed a reversal in that trend and marked the first decrease since 2020.
News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.
Defined contributionA type of individual retirement plan in which an employee saves a portion of each paycheck (along with a potential employer match) and invests that money. The employee’s retirement benefit is based on their account balance at retirement. A 401(k) is a type of defined contribution plan.
Give me a break! Medicare Advantage rate decrease will cause premiums to increase. What’s next? PERA limits our COLA to 2% and now the threat of an increase in the cost of insurance. When I became a PERA employee and promised a living wage retirement, I now feel duped. Members, please read the article above as it will definitely affect your bottom line. This has nothing to do with politics so don’t start with your nonsensical Biden/Trump remarks. It has everything to do with the greed of big insurers. Period!
Larry, the Feds (CMS – the Centers for Medicare and Medicaid Services) are planning to reduce the rates that they pay to Medicare Advantage insurers, and that may mean those insurers will have to make up their resulting loss of income by raising premiums and/or reducing benefits.