June 2018 - Is Short-Termism Harming the Economy?
On June 7, the Wall Street Journal published an important column by Jamie Dimon, Chairman and CEO of JPMorgan Chase & Company and Chairman of the Business Roundtable, and Warren E. Buffett, Chairman of Berkshire Hathaway and legendary investor. It began like this …
“Every generation of Americans has a responsibility to leave behind a stronger, more prosperous society than the one it found. The nation’s greatest achievements have always derived from long-term investments. In both national policy and business, effective long-term strategy drives economic growth and job creation.”
To read the entire column, click here.
April 2018 - Are you Ready for Retiree Health Care Costs?
Recently, Fidelity Benefits Consulting released its 16th Annual Retiree Health Care Cost Estimate. It revealed a 65-year old married couple living into their middle 80’s may spend $280,000 on basic health care costs including Medicare Parts B and D premiums, copays and deductibles. This amount excluded the cost of over-the-counter medications, dental and vision services, or long-term care. Click here to read more.
Further, a 2016 study by the Department of Health & Human Services found that “an American turning 65 today will incur $138,000 in future LTSS [long-term service and support] costs”. So, for a married couple, long-term care costs might double their basic health care costs ($138,000 x 2 = $276,000). Approximately 50% of these costs will be borne by public programs, like Medicaid, and private insurance. And, the remainder will be borne out-of-pocket.
Long-term care services and supports (LTSS) help people with chronic illness, disability and cognitive impairment perform basic activities of daily living, like bathing, dressing, continence, eating, toileting, transferring, and walking.
 Long-Term Services and