weekly blog--one for the ages
A few Medicare stats courtesy of the Employee Benefit Research Institute. To cover premiums and out-of-pocket prescription drug costs from age 65 on, you may need $130,000 if you're a man, and $146,000 if you're a woman, one study says. Medicare generally covers about two-thirds of the cost of health-care services for the program's 62.3 million or so beneficiaries. Of people without extra coverage beyond basic Medicare, 28% have either struggled to pay their medical bills or to get needed care due to the cost, according to the Kaiser Family Foundation.
401(k) managers can now invest in private-equity funds that previously were not accessible. These funds traditionally have been reserved for the wealthiest traders and institutional investors. They typically come with higher risk since private companies are not required to disclose nearly the same about of data with the SEC as public companies do.
About 48% of retirees will not need long-term care or will need very little care. For those with traditional long-term insurance, the beneficiaries would receive nothing. For those with hybrid plans, which combine life insurance with long-term care insurance, the beneficiaries would get the money back plus a little bit of interest.