Updated Friday, July 25, 2014 as of 11:19 AM ET
More Competition, Higher Costs in Senior Health Care: Wednesday's Retirement Scan
Our daily roundup of retirement news your clients may be thinking about.
Why most seniors canít afford to pay more for Medicare
A proposal aimed at replacing Medicare with vouchers would transfer the risk to seniors and could lead to higher costs for some of them, according to CNN Money. While the intent would be to bring down costs over the long-term by introducing more competition, it could also make traditional Medicare more expensive by siphoning off healthier seniors to private plans. Indeed, the Congressional Budget Office estimated that this could increase Medicare premiums 50% by 2020 compared with current projections. And such an increase in Medicare costs would be unaffordable for many seniors, according to the new interactive tool developed by the Henry J. Kaiser Family Foundation. Based on a simulation model from the Urban Institute, the tool analyses the population data, including income and demographics, and their long-range effects on retirement and aging.--CNN Money   more »
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Amid an outreach overhaul, the agency's Division of Investment Management says it wants asset managers to give advisors and investors a 'clear and concise' picture of their investment strategies. more »
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Financial products and markets are so thoroughly intertwined that regulators need to take a more holistic approach than they have in the past. more »
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