Increased Interest in Medicare Advantage Plans

Increased Interest in Medicare Advantage Plans

Medicare Advantage (Part C) plans are an alternative to Original Medicare, offered by private companies that contract with Medicare to provide Part A hospital insurance and Part B medical insurance benefits, and often include prescription drug coverage and extra benefits. Competitive bidding and changes in Medicare payments to these plans have led to improved benefits and a large increase in the percentage of beneficiaries who choose the private option.

SECURE Act Changed IRA and Retirement Plan Inheritance Rules

SECURE Act Changed IRA and Retirement Plan Inheritance Rules

At the end of 2019, President Trump signed a federal spending package that included the Setting Every Community Up for Retirement Enhancement (SECURE) Act. A provision in this legislation effectively eliminated the “stretch IRA,” an estate-planning strategy that allowed an IRA to continue benefiting from tax-deferred growth, potentially for decades. Most nonspouse beneficiaries, including children and grandchildren, can no longer “stretch” distributions over their lifetimes.