Archive - June 25, 2012

1
A “Finglish” Lesson: “Fiscal Cliff” and “Taxageddon”
2
Protect 401(k) From Stock Crash With Investment Grade Bonds
3
Long Term Care Insurance Market In Flux
4
Health Savings Account Limits for 2013 Published

A “Finglish” Lesson: “Fiscal Cliff” and “Taxageddon”

The “fiscal cliff” and “taxageddon” refer to a convergence of fiscal events (or government spending and tax policies that influence the economy) slated to occur almost simultaneously at the end of 2012. If these terms aren’t on your radar yet, they are sure to be soon, as the media loves nothing better than drama and bad news and there’s plenty of that in this story.

The actors are the President, Congress, and U.S. taxpayers. The stage is the fragile U.S. economy. Like all good dramas, this one has lots of tension. The drama began decades ago when the U.S. started …

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Protect 401(k) From Stock Crash With Investment Grade Bonds

Examine your 401k holdings to see if they are investment grade bonds. The way to do this is to first find the five digit ticker symbol for the mutual fund choices for bond mutual funds offered in the 401k. Then Google the individual bond mutual funds and find out the name of the mutual fund family and go to the fund family’s website, then go to the web page for that particular bond mutual fund. The mutual fund company’s website should say what percentage of the fund’s holdings are in a certain credit grade and possibly give a weighted average …

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Long Term Care Insurance Market In Flux

Recently John Hancock raised premiums on many of its existing long term care insurance (LTCI) policies in force with increases ranging from approximately 20% to 90%. These were primarily focused on policies written over five years ago. This comes on the heels of Prudential and Berkshire both exiting the LTCI market over the past year. Insurance companies making less on their reserves in this low interest rate environment, fewer policy owners letting their policies lapse than expected and inadequate premium pricing in the past have all contributed to the flux in this marketplace.

All of this has made it even …

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Health Savings Account Limits for 2013 Published

The IRS recently distributed information about the adjustments to Health Savings Accounts (HSAs) for 2013.  These limits adjust annually based upon inflation calculations (if inflation is present).

For 2013, the annual contribution limit for self-only coverage is $3,250, which is an increase of $150 over the figure for 2012.  For an individual with family coverage, the limit in 2013 is increased by $200 to $6,450.

The deductibles for HSA accounts are also increased in 2013:  $1,250 for self-only coverage, and $2,500 for family coverage.  This is an increase of $50 and $100 for each deductible, respectively.

Lastly, the out-of-pocket expense …

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