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  • Your medication costs may go up; here's why

    Your medication costs may go up; here's why

    If your insurance plan covers prescription drugs, you may be in for sticker shock the next time you go to the pharmacy.  Express Scripts and CVS Caremark, two large pharmacy benefit managers that provide drug coverage for many health plans, dropped about 90 drugs from their preferred formularies...

  • Get ready for cashless society

    Get ready for cashless society

    I recently discussed cashless transactions with Joseph Bailey, an associate research professor at the Robert H. Smith School of Business at the University of Maryland. Q: According to a recent Pew Research Center survey, nearly 30 percent of Americans say they make no cash purchases during a typical...

  • How to have in-sync retirement with partner

    How to have in-sync retirement with partner

    In his first year of retirement, Michael Hagedorn is struggling to reconcile the goals of his wife, Caranell, who has her sights set on travel — encouraged by HGTV and the Travel Channel — with his desire for “a little breathing room” to get their finances settled. “Perhaps if I canceled our cable...

  • Will my insurance cover drone damage?

    Will my insurance cover drone damage?

    Q: I plan to buy a drone soon. Will my insurance cover any damages it might cause? A: Damages caused by drones may be covered by the liability portion of your homeowners or renters insurance policy, but the details vary by insurer. “Some homeowners policies cover model or hobby aircraft, others...

  • How to handle long-term care costs

    How to handle long-term care costs

    Long-term-care costs can shatter your retirement nest egg, but here are some ways to pay for these potentially big bills. Traditional long-term-care policies These are usually the most efficient way to cover costs if you end up needing care. You choose the daily or monthly benefit and the benefit...

  • Why you're getting extra Medicare bill

    Why you're getting extra Medicare bill

    Q: I usually have my Medicare premium paid automatically from my Social Security benefits, but I now receive a separate monthly Medicare premium bill in addition to the amount that is debited from my Social Security benefits each month. Why am I receiving this extra bill? A: It’s likely you are...

  • How to be a 'super ager'

    How to be a 'super ager'

    If you’re reading this while pedaling a stationary bike, sipping a spinach smoothie and chatting with your gym buddies, congratulations: You just might become a “super ager.” Super agers are seniors who have cognitive abilities comparable to people decades younger. And a growing body of research...

  • Women have retirement complications

    Women have retirement complications

    My daughter Claire recently sent me an e-mail recounting a conversation she overheard while having lunch at a restaurant. A girl asked her mother how people pay for retirement. “Her mom said, ‘Well, there’s this thing called a pension, but that probably won’t be around when you’re older. And there’s...

  • Opt out of credit card offers

    Opt out of credit card offers

    Q: I recently received a credit card offer in the mail that listed a web address where I can request to opt out of all prescreened credit card solicitations. Is this legitimate? A: Yes. The site, www.optoutprescreen.com, is run by the major credit bureaus. Opting out of prescreened card offers...

  • Could you cover a $400 unexpected expense?

    Could you cover a $400 unexpected expense?

    According to a 2018 report from the Federal Reserve, 40 percent of U.S. adults would not be able to cover an unexpected expense of $400 without scrounging up the cash by, say, borrowing from friends or family or selling something. This is where an emergency fund can help. A stash of cash can come...

  • Denied by Medicare Advantage? Here's what to do

    Denied by Medicare Advantage? Here's what to do

    If a Medicare Advantage plan denies you coverage for medically necessary care, don't take it lying down. File an appeal, and your odds are good that the plan will overturn its decision. That's the message for consumers in a recent government report examining service and payment denials in Medicare...

  • Monopoly for Millennials traffics in cliches

    Monopoly for Millennials traffics in cliches

    Hasbro recently updated its classic game with the introduction of Monopoly for Millennials, which features Rich Uncle Pennybags taking a selfie, holding a cafe latte and wearing earbuds and a participation medal. Instead of buying property and amassing cash, players discover destinations, ranging...

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