Flaw in ban on Surprise Medical Bills
If you have a medical emergency, you will no longer need to worry about a large bill from a doctor you did not choose—MAYBE. The 2022 “No Surprises Act” is supposed to protect us against most surprise out-of-network medical bills. For Good Samaritans who donate organs this has always been the rule. However, because of the complexity of dealing with 4 or more institutions regarding medical procedures and their medical billing procedures, you may get caught in a fight with bill collectors they sell the ‘receivables’ to. (Remember, bill collectors get paid to collect the debt they purchased, not to correct a mistake a previous institution made.) Also, know that our Reps gave some providers’ lobbyists a break in which charges are exempt from the law. The ambulance industry CAN charge you even if you didn’t pick the one the in-network institution uses. Another example: I just got a bill from a provider I did not pick. My doctor immediately called in his favorite X-ray person in the same building to do my X-ray since I was in need and the machine was down the hall. So in our medical system, each entity that provides something; anything; that can be coded (an aspirin, X-ray, swab kit, glove, cold/hot pack, etc etc) will add to our bill. If you look at your hospital bill, you will be shocked to find an aspirin can cost $30. If you insist on brand Tylenol instead, it costs more. A trip to the hospital can cost more than a bomb the Air Force pays to arm its fighters.
What we regret most
Regret: I wish I had done something or not done something in the past. In The Power of Regret, Daniel Pink asked 16,000 in 105 countries about their top regrets. People regret not building a strong foundation — that is, not saving money early, not being prudent," Pink says. "With financial regrets, they're less about not hitting a home run and more about not regularly getting on base." It is TIME in the market not brilliant advisor stock picking that builds wealth. No advisor can be right all the time so in the long run, you lose more than you gain. The average advisor-managed account earned just 3.79% vs 11% for a pure low-cost stock market index fund. It is the high fees and bad market timing that ruins your investment plans. Starting early, using your average tax refund or $250 a month in a low-cost stock index fund like Warren Buffett recommends provides your best chance of providing an above average retirement income.
Avoid advisor fees: https://www.amazon.com/New-American-Retirement-System-ReserveTM/dp/1461030072
Why unbiased financial leaders say use a fiduciary
A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients' interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other's best interests. This is the kind of person you want to handle your money and life choices. Otherwise you become an ongoing meal ticket for a salesperson and their firm’s owner. Fidelity owners, the Johnson family, have a net worth of 36 Billions. They did not get to that level working 9 to 5. They take fees every year from your savings and investment accounts (if your money is at Fidelity). On the other hand, Vanguard Group of funds is owned by its investors. You get financial products and services at cost: No middle person fees and charges. Low-cost stock index funds, like Warren Buffett recommends, provide you with your best chance of gaining an above average retirement income. Earn market rates of return not the Johnson’s rate. I don’t work for Vanguard. I moved my money from Fidelity because I earn more at Vanguard. They just cut their fees again—Target Retirement Funds—1/5th the cost of others. I keep more!
Buy at cost and save: https://www.amazon.com/Fiduciary-Rule-BEST-dont-anymore/dp/1530980275
Another way wealth people make us pay their taxes
Passing on $ billions tax-FREE to the kids who never have to
work and contribute to our society. Shale
King Harold Hamm Is Passing
Billions To His Heirs Tax-Free. If the kids don’t pay taxes on their $2.3
billions, we will be stuck paying for the courts, highways, airports, and armed
forces they depend on. His lawyers carefully structure transactions so they
benefit heirs but aren’t technically gifts at all. Thus no gift or estate taxes
are paid. Yet he controls the company that provides the wealth. Filings show
Use your legal tax-FREE
account: https://www.amazon.com/Your-Wealth-ReserveTM-Tax-FREE-Investment/dp/1484954882
If you earn less than $100,000 a year, start investing NOW
The only way to have enough income in retirement is to start early. Why? Because most working people need time for the Miracle of Compounding to accumulate a large nest egg. It takes large contributions or a long time to have enough retirement assets to live on later. For instance, investing $250 a month for 35-40 years will provide a retirement income of about $45,000 for 30 years. You would need to triple that—or invest $750 a month—if you only have 25 years left to invest. If you wait to start, you will need $2,500 a month for 15 years to reach your goal. This assumes you can earn 10% a year on average in a low-cost stock market index account. This is the type recommended by Warren Buffett. If you rely on a high-fee broker/advisor, it may not be possible to reach your goal at their average of 5.19% annual earnings. Low cost beats high cost over time.
Use the Miracle of Compounding: https://www.amazon.com/Miracle-Compounding-Turn-day-into/dp/1470176513
Take all your special 2021 credits to offset taxes
2021 was a difficult year for most working Americans. Take all your credits: Child and Dependent Care Credit was supercharged through the 2021 American Rescue Plan. Parents can receive a tax credit worth as much as $8,000 — nearly four times the previous limit of $2,100. The Child Tax Credit provided funds throughout the year but some families may have been shortchanged. The expanded Child Tax Credit, by comparison, provides $3,600 for each child under six and $3,000 for children between 6 to 17. The fact that the tax credit is also fully refundable is important because it could boost the tax refund that many parents receive this year, experts say. Tax credits are dollar-for-dollar reductions in a person's tax liability, versus deductions that lower a person's overall taxable income. Save the $300-$600 tax prep cost by doing your tax return using IRS-approved tax software via IRS free file. Or AARP free tax prep. Do not mail your return since IRS is still processing 2019 paper returns. I just got my refund!
https://www.amazon.com/Tax-Credit-Class-your-credits-ZERO/dp/1539462382
Social Security is the best annuity available
Insurance companies make a lot of money from annuities because you receive less than you invest with them. Yes, you are guaranteed payments for the rest of your life but unless you pay more now, your benefit will be cut by inflation over time. That means you receive less and less each month in buying power. At current levels of inflation your benefit will be worth about HALF the current payments in 20 years. Compare SS benefits: annual inflation protection—in 2022, benefits were increased by 5.9% at no extra cost to you. There is no policy charge, commission, admin fees, surrender charges, mortality expenses, investment expenses, or inflation rider fee. You can also create a low-cost income stream like an annuity to supplement your SS benefits.
Use the best: https://www.amazon.com/Best-Annuity-Strategy-Income-Growth/dp/1497532019
?**********ACCOUNTABILITY**************?
Like 1776, this
period is a test
of democracy—We
rejected an "American
fascist" once
The
Path to Dictatorship: 2010-2030
How Govt wastes our money:
Ukraine
the new
100 more incidents
involving counterfeit
parts in nuclear power plants in 2021
Manchin’s
political veto gives friends $ millions in lobbying fees: making
them wealthy
GOP
asks truckers to come block highways in US: Putin hacker firm invites
chaos
Another costly
vacation: House returns to work Feb. 28 after Presidents Day recess.
IRS
Adds Four “No Rule” Areas for Trusts Estates: wealthy avoid taxes; we pay
their tax
SCAMS/SPINS:
WI Trumpers ban ballot
drop boxes: WI
supremes help GOP win elections
TX rejects thousands
of ballots for primary: GOP
secures win before election
Billionaire
pays to oust GOP reps who voted to impeach dictator Wannabe: follow cash
Two MS whites chase
Black FedEx driver in truck: 5 shots: another
hate crime?
CA deputy shot Black
homeless man in
struggle for jaywalking arrest: no charges
FL former cop kills
man in phone-in-theater dispute: ‘stand
your ground’ defense
NYC employees comply
with vaxx mandate or
face losing their jobs: 940,000
dead
Employees don’t
fight mandate for driving, guns, seatbelts,
recycle, dog poop, taxes, etc
500
unruly passenger incidents first six weeks of 2022: GOP cancels
Is
Putin trying to divide us again: fake Trump letter, fake crops, fake food
supply chain
Zero Hedge, 1.2
million Twitter followers, published
Moscow propaganda as truth
Volvo now owned by Geely, Chinese
billionaire business magnate Li Shufu.
Fake ‘vintage’ goods
sold are really new: ads
for fake vintage stuff: get nothing
Russell Joseph Mutter caught
$3.3 million financial fraud, fake statements 16 yrs prison
Mark Boucher, CA, caught
stealing $2.2 mil by forging signatures, wire transfers, etc
Kenneth A. Welsh NJ caught
stealing $1.9 mil fake wire transfers; arrest
CO elections clerk is sued after passing
on voting data to groups behind disinformation
Royals pay up for Andy’s
sex with minor accusation: it’s good to have Queen behind you
Hertz
caught getting car renters arrested after mistakenly filing stolen vehicle
report
Football $ 1 billion online gambling boom changes
fans into transaction action addicts
NFL
censured Super’s half-time show so some wouldn’t be offended: listen
carefully.\
Email from Chase:
review your contact info: but I don’t have a Chase account: scammer
Scammers
reach $800 average take: can you spot them coming after you? Gov can’t
Chrysler now ‘Stellantis’
recalls
19,808 plug-in Pacifica Hybrid: charging fires
Tesla sued for killing driver when it ran into fire truck by itself: blinking
lights attract
Sandy
Hook families win $73 million vs Remington but Remington
is bankrupt!
NFT marketplace shuts, citing 'rampant'
fakes, plagiarism; so much for online only views
Trump
and his two eldest children must comply with AG order to testify: take
5th 500 X
Trump’s accountant: his businesses cooked the books, “inflated
property values”
Trump
threatens Clinton advisor with death for spying
Jobs
The adverts
without the football on Sunday: vote on your favorite: $7
million/30 sec.
Some jobs
can be done from anywhere if you have the right training or attitude
Citigroup head got 32%
increase to cover inflation years in advance: live on $22 mil?
Least
cost accredited college degrees: MBA, M
Ed, MSIT
Who owns your account now?
Insurers push Congress to allow annuities as investment’s default: high fees cut earnings
“Americans can exercise
Constitutional rights without hiring high-priced lawyer or lobbyist”
Investors
not families buying up homes in critical areas in each city
New tax we paid to gambling
industry: 2021 the highest-grossing
year ever: $53 billion
4 free Covid tests sent to
your home: https://www.covidtests.gov/
Some
student loan cancellations: fraud rampant in some: DeVry ITT Technical Minnesota Business/Globe .
Miracles:
February 12: 49*
at 8 AM northern NJ. Forty nine going to SIXTY! Warming?
Western
US draught worst in 1200 years: hottest superbowl ever
This is how royals
cut cake: stab down like
killing a vampire
Space weather took
out 40 SpaceX satellites: don’t
look into the sun directly
Skaters
using drugs OK as long as they use
own script and grandpa’s and under age
MIT makes $4 water
desalination machine: fresh water for the world
Eastern cities hit
regularly with costly
floods as sea rises faster next 30 years
Flowering
plants multiplying in Antarctica as the climate crisis has warmed the
summers
Woman
Appears to Be Entirely Cured of HIV
We can apply for
Medicare online: https://blog.ssa.gov/apply-for-medicare-online
We can apply for Social
Security online: https://www.ssa.gov/benefits/retirement/
We can apply for
health care online: https://www.healthcare.gov/
IAN
41 Watchung Plaza,
B242
973.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available
at http://dankeppel.blogspot.com/
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