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July 22, 2024
By
The Admiral Staff
Rising medical deductibles are outpacing income increases, leaving many struggling to afford care. The article suggests strategies to manage this, including utilizing Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs), shopping around for lower prices, carefully reviewing bills for errors (which are common), proactively seeking assistance and negotiating payment plans with providers, and exploring lower-cost wellness alternatives to avoid delaying necessary care.
May 14, 2024
By
The Admiral Staff
The article explores potential downsides to the FIRE (Financial Independence, Retire Early) movement. While retiring in your 30s or 40s sounds appealing, it presents challenges including higher healthcare costs before Medicare eligibility, potential social isolation, increased risk of outliving savings due to longer life expectancies, missing peak earning years, potentially reduced Social Security benefits, and penalties for early withdrawals from retirement accounts. The article advises consulting with financial professionals before making the leap to ensure financial preparedness.
February 7, 2023
By
The Admiral Staff
Many employees are seeing smaller paychecks in 2024 due to significant spikes in health insurance premiums. This is attributed to factors like brokers incentivized to sell pricier plans, insurance companies covering rising healthcare costs, and a backlog of delayed procedures from the COVID-19 pandemic. While employer-sponsored health insurance is legally required to be affordable (less than 8.39% of an employee’s gross income), this doesn’t always help families. The article suggests options like
January 31, 2023
By
The Admiral Staff
A woman is concerned about marrying her boyfriend of two and a half years due to his financial irresponsibility (delinquent student loan debt and a lack of administrative follow-through) and past health issues. While she loves him and envisions a future together, she fears becoming financially burdened by his actions and worries about potential medical expenses. The financial advisor suggests exploring options like long-term care insurance or Medicaid compliant annuities to protect her savings, but emphasizes the larger issue: her boyfriend’s lack of responsibility
