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Healthcare Archives - Wealthspire Advisors

medicare

Everything You Always Wanted to Know About Medicare

By Guides & Whitepapers
Medicare: The Basics Medicare is the Federal health insurance program for people ages 65 and older. The program helps pay for various medical expenses including hospital stays, physicians, prescription drugs, and more. The number of people enrolled in Medicare has tripled since 1970, climbing from roughly 20 million in 1970 to 60 million today, and is projected to reach almost 90 million in another 30 years. A common misconception about Medicare is that it is self-financed through premiums paid by current beneficiaries and payroll taxes by future beneficiaries. Unfortunately, payroll taxes and premiums only cover about half of the programs…
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healthcare

Approaching Healthcare as an Informed Consumer

By Blog
Effectively Seek Medical Care in a Way that Makes Sense for Your Insurance The level of responsibility being imposed on patients is increasing. We must all begin to view obtaining medical services and healthcare through the lens of the informed consumer rather than the dutiful patient. We should seek out doctors who wish to embark on a collaborative approach to care to help us navigate this new medical landscape. The rise in popularity of high deductible health plans has begun to shed light on the way healthcare is typically provided in the United States and the cost associated with that…
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long-term care

How to Plan for Long-Term Care Costs

By Blog
Many of us think it won’t happen to us, but the statistics say otherwise. 52% of Americans turning 65 will need some type of long-term care services during their lifetimes. The costs quickly climb financially, as do the physical and emotional stresses. The questions that often follow are: how to pay for it all, and what, if anything, can be done to prepare ahead of time. The answers are not easy, but remember, failure to plan is a plan itself. Who pays for long-term care costs? The first answer that comes to mind for many is Medicare or associated Medicap…
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long term care

Defining your Objectives for Long-Term Care

By Guides & Whitepapers
Americans are living longer and healthier lives than at any other time in history. Average life expectancy in the US is 78.7 years and continues to rise. For those without chronic illness, it is realistic to plan to live well into the 90’s. Longer lifespans come with a higher likelihood that aging adults will eventually need some sort of help with the daily functions of living. In fact, 7 out of 10 will need help in some form – either from a family member or a paid caregiver – and 9 out of 10 who receive that care will not fully recover their…
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health savings accounts

Strategies for Use of Health Savings Accounts

By Blog
Health Savings Accounts (HSAs) are an increasingly popular way to pay for healthcare expenses, especially as employers continue to look to shift ever rising insurance costs onto their employees.  Why are they popular? Because they are a fairly easy way to save for medical expenses while reducing your taxable income at the same time. General Rules for Health Savings Accounts So how can you qualify for an HSA? If you are enrolled in a high-deductible health insurance plan (HDHP) as defined by the government, you can qualify for an HSA. For 2018, the Internal Revenue Service (IRS) defines a HDHP…
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