Corporate Compensation Plans, Inc. (CCP) and Harley Gordon, an attorney and authority on long-term care financing, have introduced the CLTC-WealthSecure System, a long-term care insurance marketing systems for financial advisers and insurance professionals.
While logic would tell you that staying healthy holds down health care costs in retirement, new research suggests that healthy retirees actually face higher total health care costs over their remaining lifetime.
Fidelity Investments' annual Retiree Health Care Costs Estimate indicated a 65-year-old couple retiring this year will need $250,000 to pay for medical expenses throughout retirement, not including nursing home care.
Health-care costs for retiring Americans, including nursing home care,
average $260,000 and can exceed $500,000, according to research
conducted by the Center for Retirement Research (CRR) at Boston College
and underwritten by Prudential Financial.
Some 47% of polled Gen Y employees with an employer-sponsored
retirement savings program said retirement savings has to take a back
seat to funding everyday costs, such as mortgages and credit card debt.
Large U.S. employers are continuing to shift significant health
coverage costs to retirees or exiting sponsored retiree health benefit
programs altogether, according to Towers Perrin’s 2010 Retiree Health
Care Cost Survey.
A court ruled that Boeing Co. did not violate the Employee Retirement
Income Security Act (ERISA) or the Labor Management Relations Act
(LMRA) when it presented changes to retirees' health benefits in a 2006
collective bargaining agreement (CBA).
The 6th U.S. Circuit Court of Appeals has reopened a case in which
retirees of LG Philips Displays are seeking to be reinstated with
health benefits that ended after their previous employer filed