Within days of Trump’s inauguration, Republicans swiftly laid the groundwork to “repeal and replace” the Affordable Care Act, nicknamed “Obamacare,” which provided health insurance to more than 20 million Americans. The public has responded with panic about pre-existing conditions and potential sticker shock.
The idea for ABLE accounts came about a decade ago from parents of kids with disabilities who were frustrated that they could not easily save money for their children. "For the first time a lot of individuals will be able to work, save money and get some growth out of it," says Adam Beck.
Let’s look at 12 practical tips from the leading financial planning thought leaders and professors that can help you take your 2017 financial planning to the next level, and put you on the right path to a more financially secure future.
In the recent federal elections, health care reform was essentially a nonissue. To be fair, most actual policies were not topics of debate. However, behind the scenes, the Affordable Care Act (ACA) is at a crisis point. No, it is not failing or destined to fail, as many opponents claim. Nor is it a smashing success, as its proponents believe.
President-elect Donald Trump has vowed to repeal Obamacare. But what impact would that have on our region? NBC10's Rosemary Connor and American College of Financial Services professor Adam Beck discuss.
To a roaring crowd at the Fox News Republican presidential debate last January, Texas Senator Ted Cruz vowed to "repeal every word" of Obamacare. Though Cruz ultimately lost the presidential nomination to Donald Trump, the man then considered the underdog, the significance of Cruz’s sentiment was not lost on the American people.
"Caring for a child with special needs is a full time job that requires all of your emotional and physical energy, which is why it makes sense that planning beyond the present is often delayed or ignored," said Professor Adam Beck.
“Most Americans do not buy health insurance through the marketplace. For those that do, they are protected from the ‘sticker price’ increases because of the subsidies. Most marketplace consumers will still pay less than $100 per month,” Adam Beck said.
A survey of families with children with special needs found that a large majority (82%) of caregivers are concerned that they do not have enough financial resources to last their disabled relative’s entire lifetime. Just as alarming, because of the time and cost required for caring for those with special needs, 30% of caregivers are not saving at all for their own retirement.