The Latest News for Insurance and Annuities

The rising cost of health insurance makes choosing the right plan a big financial decision. Taking time to review the plan options, whether on a marketplace or employer-sponsored, can save money for the enrollee. With the new administration coming in January, policy changes are expected and could affect pension plans and other retirement benefits. Understanding what benefits are available and what changes are expected to come next year will help make sure your retirement decisions are sustainable long-term.

Feds, retirees get soaked in ‘perfect storm’ of rising insurance costs (The Washington Post, December 5)

During the past six years, federal workers (among others) have not seen pay increases in line with the rising cost of health insurance premiums. With the open enrollment period ending December 12, researching the available plans for 2017 can result in better values for enrollees. For example, choosing the self-plus-one option instead of a family plan can often save money. There are also medicine-price calculators available to help manage the cost of prescription drugs. However, even with careful buying consideration, insurance prices are rising faster than incomes.